For some business owners, succession planning is a complex and delicate matter involving family members and a long, gradual transition out of the company. ...
Employees tend not to fully appreciate or use their retirement benefits unless their employer communicates with them about the plan clearly and regularly. ...
You may keep a wary eye on your competitors, but sometimes it helps to look just a little bit deeper. Even if you’re a big fish in your pond, someone a little bigger may be swimming up just beneath you. Being successful means not just being aware of these competitors, but...
As there are more and more data breaches affecting consumers, identity theft issues area at an all-time high. It is the number one complaint reported to the Federal Trade Commission. Judging from recent news reports, this doesn’t seem to be getting any better....
Often when we talk to clients, attorneys, or other professionals about business value, they want to think in terms of EBITDA multiples. It is, after all, the standard valuation metric in the M&A world, and for good reason....
When determining how long to keep most of your income tax records, we look to the time frame that the IRS or state revenue agency can audit a tax return. ...
The Work Opportunity Tax Credit, or WOTC for short, is a somewhat complicated tax credit. Basically, a tax credit exists when a business pays wages to employees that are part of a qualified group. The obvious question is what makes an employee part of the qualified group...
A cost segregation study looks at a building or piece of property and segregates the total cost into portions with shorter depreciable lives. This optimizes depreciation resulting in substantial cash flow benefits. In general, a building is classified as 39 year proper...
Both the federal and state research and development credits (R&D credit) are in place to reward those companies that develop new products or new processes....
No. Nothing really happened. The company makes a contribution of $XX, which is paid the ESOP. The ESOP turns around a pays the Company $XX for principal and interest. The checking account did not change. The expense the company needs to record is the actual value o...
There is a high likelihood that if you are an ESOP, then you will be visited by the DOL (Department of Labor). This is different than an IRS audit. The chances from my experience is 20%. IRS audits are much lower, more like 2%....
A major provision in the Tax Cuts and Jobs Act is a 20% deduction available for pass-through entities with qualified business income. Pass-through entities include sole proprietors, partnerships, and S corporations....
