blog
March 13, 2019
Is Return Fraud Cutting into Your Store’s Profits?

For brick-and-mortar retailers, return fraud can be a serious financial threat. There are several types of schemes. But when they’re successful, they all end the same way: Stores issue refunds that they shouldn’t have. Here’s what to look for and how to limit losses....

March 13, 2019
The 2018 Gift Tax Return Deadline is Almost Here

Did you make large gifts to your children, grandchildren or other heirs last year? If so, it’s important to determine whether you’re required to file a 2018 gift tax return — or whether filing one would be beneficial even if it isn’t required. ...

March 13, 2019
Cash Planning – How Much Cash Should You Have on Hand?

Cash needs will vary with stages of life, the stability of income, future uses for the cash, and how cash fits into your overall portfolio allocation.  If you are holding what seems like a lot of cash, or are retiring soon, you may want to carefully consider how much cash you realistically can afford to hold. ...

March 12, 2019
Financial Market Recap – Week Ending March 8, 2019

Stock markets declined last week, posting their worst week of performance this year. The S&P 500, the MSCI international, and the MSCI EM markets all lost about 2% for the week. Three main catalysts drove the trade....

March 11, 2019
Vehicle Expense Deduction Guidelines for Individual Taxpayers

It’s not just businesses that can deduct vehicle-related expenses. Individuals also can deduct them in certain circumstances. Unfortunately, the Tax Cuts and Jobs Act (TCJA) might reduce your deduction compared to what you claimed on your 2017 return. For 2017, miles driven for business, moving, medical and charitable ...

March 8, 2019
Using Knowledge Management to Develop Your Succession Plan

As the old saying goes, “Knowledge is power.” This certainly rings true in business, as those who best understand their industries and markets tend to have a knack for staying on top. If that person is a company’s owner, however, great knowledge can turn into a vulnerability when he or she decides to retire or ...

March 6, 2019
Prevent Fraud With the Help of Your Audit Committee

Your board’s audit committee is a first line of defense against fraud. But to be effective, committee members need to do more than simply review financial statements and audit results.  Members should also adopt the following best practices:...

March 6, 2019
Not Every Small Business Gets to Enjoy the Benefits of the New Tax Law

Many of the favorable attributes of the new tax law apply to businesses with less than $25M of gross receipts. In addition, these entities avoid the 30% of taxable income interest limitations under §163(j). Unfortunately, there is a significant exception to the $25M test.  Businesses that are deemed tax shelters are ...

February 27, 2019
New Real Estate Investor?  Your Guide to Successful Bookkeeping

The main objective of bookkeeping is to have an accurate record of all the money going in and out of your business.  Having a rental property requires good bookkeeping skills or having an experienced bookkeeper on staff.  When you know how your business is doing at any point in time, you can better manage your business...

February 27, 2019
Construction Companies – Dreaded Profit Fade

Profit fade comes into play when a company’s profit is lower than expected or budgeted.  It can happen in any industry, but it unfortunately happens quite often in construction.  Profit fades are common to construction companies due to the complex nature and some unknown variables in the industry.  Often the cause of ...

February 27, 2019
Careful Tax Planning Required for Incentive Stock Options

Incentive stock options (ISOs) are a popular form of compensation for executives and other employees of corporations. They allow you to buy company stock in the future at a fixed price equal to or greater than the stock’s fair market value on the ISO grant date. If the stock appreciates, you can buy shares at a price ...

February 27, 2019
Are Your Employees Ignoring Their 401(k)s?

For many businesses, offering employees a 401(k) plan is no longer an option — it’s a competitive necessity. But employees often grow so accustomed to having a 401(k) that they don’t pay much attention to it.  It’s in your best interest as a business owner to buck this trend. Keeping your employees engaged with their ...