January 21, 2019
Best or Worst Tax Season?

I think there is a strong chance that 10-20-30 years from now when we look back at the 2018 tax filing season we will specifically remember it. Some may remember it as the worst tax season ever and I think some will remember it as the best tax season ever. I think it might be like how everyone remembers the Halloween ...

January 18, 2019
Smart Building Considerations

Nowadays, data drives everything — including the very buildings in which companies operate. If your business is considering upgrading its current facility, or moving to or constructing a new one, it’s important to be aware of “smart” buildings.  A smart building is one equipped with a variety of sensors that gather and...

January 3, 2019
Economic Damages: Recovering What Was Lost

A business can suffer economic damages arising from a variety of illegal conduct. Common examples include breach of contract, patent infringement and commercial negligence. If your company finds itself headed to court looking to recover lost profits, diminished business value or both, it’s important to know how the ...

January 2, 2019
Taxation of Employee Stock Options

Before we get too deep into this, it's necessary to understand that there are two kinds of stock options, nonqualified options (NSO) and incentive stock options (ISO). With either kind of option, the employee gets the right to buy stock at a price fixed today for a defined number of years into the future, usually 10. ...

December 31, 2018
Funding a Business With Your IRA – Be Cautious

Consider this situation: A business owner thought an IRA was his money and he could use it to fund his start-up business. Instead, he had his entire IRA disqualified and he was forced by the appellate court to pay substantial penalties and a massive tax bill....

December 29, 2018
Deducting Volunteering Expenses

Deducting Volunteering Expenses:  My parents are avid motorcycle riders. It is literally all they do. As soon as the snow melts, those bikes are out, and they will ride as late into the fall as the weather allows, regardless of the temperature, until ice and snow prohibit otherwise. On the weekends they will take on th...

December 28, 2018
Using Market Research to Develop Pricing Strategies

The promise of the new year lies ahead. One way to help ensure it’s a profitable one is to re-evaluate your company’s pricing strategies. You need to devise an approach that considers more than just what it cost you to produce a product or deliver a service; it also must factor in what customers want and value — and ho...

December 26, 2018
Do Your Long-Term Customers Know What Services You Offer?

Most business owners would likely agree that selling to existing customers is much easier than finding new ones. Yet many companies continue to squander potential sales to long-term, satisfied customers simply because they don’t create awareness of all their products and services....

December 18, 2018
Getting Ahead of the Curve on Emerging Technologies

Turn on your computer or mobile device, scroll through Facebook or Twitter, or skim a business-oriented website, and you’ll likely come across the term “emerging technologies.” It has become so ubiquitous that you might be tempted to ignore it and move on to something else. That would be a mistake.  In today’s competit...

December 10, 2018
Succession Plans for Family Businesses

Those who run family-owned businesses often underestimate the need for a succession plan. After all, they say, we’re a family business — there will always be a family member here to keep the company going and no one will stand in the way. Not necessarily. In one all-too common scenario, two of the owner's children...

Consider electing to contribute to a health FSA for 2019. You can put in up to $2,700 to your employer's health FSA to help cover out-of-pocket medical costs. Amounts contributed to an FSA escape federal income tax as well as payroll taxes.
You must clean out your health flexible spending arrangement by December 31st if your employer hasn't implemented either the 2 1/2 month grace period or the $500 carryover rule. Otherwise, you will forfeit any money left in your account.