October 15, 2018
Four Pillars of a Solid Sales Process

Is your sales process getting off-balance? Sometimes it can be hard to tell. Fluctuations in the economy, changes in customer interest and dips in demand may cause slowdowns that are beyond your control. But if the numbers keep dropping and you’re not sure why, you may need to double-check the structural soundness of h...

An LLC can be taxed as a partnership, an S Corporation, or a C Corporation depending on the elections that are made.
October 10, 2018
Gifting Stocks and Mutual Funds

Considering a Gift to a Relative or Charity?  If you want to make gifts to favorite relatives or charities, a great strategy to consider is gifting stocks or mutual funds. Let’s review some solid principles to use while gifting equities. Don’t give away loss positions in stock or mutual funds, a much better strat...

October 8, 2018
Cash is King Still Reigns

You’ve no doubt heard the old business cliché “cash is king.” And it’s true: A company in a strong cash position stands a much better chance of obtaining the financing it needs, attracting outside investors or simply executing its own strategic plans.  One way to ensure that there’s always a king in the castle, so to s...

October 8, 2018
Revisit Your Business Plan to Prepare for the Year Ahead

Like many business owners, you probably created a business plan when you launched your company. But, as is also often the case, you may not have looked at it much since then. Now that fall has arrived and year end is coming soon, why not dig it out? Reviewing and revising a business plan can be a great way to plan for ...

October 3, 2018
Creating a Strong BYOD Policy

It’s easy to understand why more and more businesses are taking a “bring your own device” (BYOD) approach to the smartphones, tablets and laptops many employees rely on to do their jobs. BYOD can boost employee efficiency and satisfaction, often while reducing a company’s IT costs. But the approach isn’t without risk f...

September 27, 2018
New Credit For Paid Family and Medical Leave

A new general business credit was introduced with the Tax Cuts and Jobs Act for employers who provide paid family and medical leave to their employees for 2018 and 2019. To take advantage of this credit, employers must have a separate provision in the employer's policies; most PTO policies will not qualify as currently...

September 24, 2018
Key Tax Law Changes for Businesses

As we get closer to year-end, we thought it would be helpful to review some of the key tax law changes that come into play for businesses in 2018. Section 179 Deduction - Increased the maximum annual Section 179 deduction to $1 million and increase the deduction phase-out threshold to $2.5 million...

September 24, 2018
Juggle Income and Deductible Expenditures through Year-end

The new tax rules allow more businesses to use the cash-method accounting for tax purposes. Assuming your business is eligible, cash-method accounting creates the ability to micromanage 2018 and 2019 taxable income to minimize taxes over the two-year period. Here are some specific cash-method moves if you expect your b...

September 24, 2018
Revenue Recognition Changes for Construction Contractors

Is your construction company ready for the new Revenue Recognition changes coming? Hopefully you have heard something in the last few years regarding the changes coming for revenue recognition.  If not, we’ve got you covered. Construction Contractors may be the industry that is impacted the most by this change in acco...

September 14, 2018
Expanding Your Business to a Second Location?

Most business owners want to grow their companies. And one surefire sign of growth is when ownership believes the company can expand its operations to a second location. If your business has reached this point, or is nearing it, both congratulations and caution are in order. You’ve clearly done a great job with growth...

Minnesota has an R&D tax credit which is calculated independently of the federal R&D credit.