It has been widely reported that the Tax Cuts and Jobs Act lowers federal income tax rates for many people. The highest tax rate, for example, has fallen from 39.6% to 37%. Many people who are in lower brackets also stand to benefit. Example one: Alice...
The attitudes and behaviors of your supervisors play a critical role in your company’s success. When your managers are putting forth their best effort, the more likely it is that you will, in turn, get the best performances out of the rest of your employees....
Looking for the perfect bookkeeper is something like looking for an ideal mate. You will want to give it some serious thought about your organization’s needs before you start searching for, and commit to, the person who will handle your day-to-day accounting functions. Define the role Before...
Tax-advantaged retirement plans like individual retirement accounts (IRA) allow your money to grow tax-deferred, or, in the case of Roth accounts, tax-free. The deadline for 2017 contributions is April 17, 2018. Deductible contributions will lower your 2017 tax bill, but even non-deductible contributions can be...
The Tax Cuts and Jobs Act (TCJA) of 2017 has been called the most extensive tax legislation in more than 30 years. It certainly is far reaching; covering individual and business income taxes and estate taxes. The new law has many tax saving opportunities as...
For many entrepreneurs, obtaining a ‘doing business as’ (DBA) certificate enables them to open a small business. However, DBAs also can be used to open shell companies. These businesses, which have no assets of their own, may be legitimate. For example, when they are used...
Individuals: File a 2017 income tax return. If you want an automatic six-month extension of time to file the return, file IRS Form 4868, 'Application for Automatic Extension of Time To File U.S. Individual Income Tax Return.' Then, file IRS Form 1040, 1040A, or 1040EZ...
Management wants to paint the rosiest possible picture of a company’s financial performance, but aggressive earnings management, or ‘spin,’ can mislead investors and lenders. Here are some ways U.S. Generally Accepted Accounting Principles (GAAP) can be manipulated to obscure the truth. Creative accounting vs. cooking the...
If your organization offers a 401(k) plan, you are probably aware that you can set some rules regarding when participants may enroll. Many plan sponsors strive for a happy medium between immediate enrollment and highly restricted or delayed enrollment. As you seek to attain the right...
Politicians, journalists, and celebrities are not the only ones vulnerable to charges of sexual harassment. As a business owner, you could be in the spotlight if allegations of improper behavior arise, especially if they are brought by one or more employees. Even if your own...