Accelerating deductible expenses, such as property tax on your home, into the current year typically is a good idea. Why? It will defer tax, which usually is beneficial. Prepaying property tax may be especially beneficial this year, because proposed tax legislation might reduce or eliminate...
If one of your employees committed embezzlement, how long would it take your company to discover the loss? According to the Association of Certified Fraud Examiners, the average business does not detect occupational fraud schemes for 18 months. Fortunately, there are ways to find fraud earlier....
Most organizations reach a point where they could substantially benefit from formalizing their performance management system. Doing so typically is not easy, of course. Many employers prop up an old system involving an employee manual, perhaps various memos, and an annual job review only to...
Work-in-progress (WIP) is a major inventory account for manufacturers, media and film companies, construction contractors, and other entities that enter into long-term contracts. WIP reports help management gauge the profit on each long-term project. To maximize profitability, it is essential to regularly monitor these reports. What...
Regardless of future legislation, some reliable strategies will help investors trim their tax bill in 2017. Year-end loss harvesting can be worthwhile. Example one: Nick Rogers tallies his investment trades so far in 2017 and discovers he has realized $30,000 worth of net capital gains: his...
No business owner wants to send out spam. Even the term ‘email blast,’ the practice of launching a flurry of targeted messages at customers and prospects, has mixed connotations these days. Yet email remains a viable and even necessary communications channel. Here are four tips on...
People are naturally inclined to make charitable gifts around the holidays. With the end of the year fast approaching, your non-profit should prepare now to take advantage of donors’ generosity. Here are four tips for making the most of the season: Strike early. Plan events or...
With Veterans Day on November 11, it is an especially good time to think about the sacrifices veterans have made for us and how we can support them. One way businesses can support veterans is to hire them. The Work Opportunity tax credit (WOTC) can...
Companies looking for the perfect holiday gift for valued employees or customers may be tempted to buy prepaid gift cards as a convenient, one-size-fits-all solution. If yours is one of those businesses, you might want to think twice. Gift cards are vulnerable to theft; numbers...
