For business owners with vehicles in their business the new tax bill has a few wrinkles that will affect how you treat those vehicles. There are two big items to discuss. ...
You don’t have to be Tom Petters or Al Capone to have two sets of books. In fact, I believe that most if not all businesses can benefit from having two sets of books (financial statements), legally. ...
Cash is King! This is what I hear from many clients. It is very true since it is the deciding factor for many business decisions....
Rental property is a complicated subset of passive activities and making a real estate professional election can make a huge difference for people with rental losses. Real Estate Professional basically means your full time job is real estate and it allows you to switch pas...
Many companies have life insurance on key employees and officers. Kind of grim subject, but obviously if the key officers or shareholders get hit by a bus and dies, the company is going to have some rough times. The life insurance proceeds can certainly help....
Year end can’t get here soon enough for some business owners — especially those whose companies have exceeded their annual budgets....
Your business financials — where they stand currently and where they might be going next year — are incredibly important....
Hundreds of years ago, prosperous towns managed the various risks of foreign invaders, thieves and wild animals by fortifying their entire communities with walls and towers. Today’s business owners can take a similar approach with enterprise risk management (ERM)....
With so much data flying around these days, it’s easy for a company of any size to get overwhelmed. If something important falls through the cracks, say a contract renewal or outstanding bill, your financial standing and reputation could suffer....
Minnesota legislators recently passed a long overdue tax relief bill. The bill provides nearly $650 million in relief to Minnesota businesses and individuals. A summary of the highlights of the bill are listed below:...
Every business owner wants to know what their break even is for their company, but many don’t know where to begin trying to calculate it. Doing a break even analysis will provide information regarding the sales volume needed to be at a break even status (no profit or los...
Listed property is a term for vehicles that are specifically listed out on Form 4562 when you file your tax return. ...
