Category: Business Tips

Business Tax Tip: Check your eligibility for this business tax credit

The health insurance premium credit for small businesses has been available since 2010. According to a recent report, many businesses that qualify for this business tax credit have failed to take it. Even if your business hasn’t taken this credit

Two financing options for your business: equity and debt

Financing Options for Your Business Start-up businesses and long-established firms share common ground in at least one respect: the need for financing. Managers of fledgling companies often debate the best way to obtain funds for buying inventory, heavy equipment, and

Business or Hobby? Nine factors help the IRS decide

The dividing line between a business and a hobby may be thin, but it can look like a canyon when you are on one side and your tax deductions are on the other. The gap is a function of differing

1099s – A little form with a painful bite

1099s Filing Penalties When Congress tried unsuccessfully to expand the Form 1099 filing requirements a couple of years ago, at least one thing was accomplished. It raised awareness of an important IRS business reporting rule. And at $100 per infraction,

Key Financial Indicators: Manage Your Business With a Few Key Numbers

Regardless of the type of business you’re running – whether it’s selling electronics, making furniture, or servicing automobiles – monitoring a few key financial indicators is often all that’s needed to keep your company growing and prosperous. On the other

Avoid 6 common mistakes in selling a business

Most entrepreneurs eventually think about selling their businesses, whether as a prelude to retirement or to pursue other activities. In doing so, they often underestimate the effort required for a satisfactory outcome and overestimate the value and salability of their enterprises. If you are contemplating selling, here are some common mistakes to avoid.

Make your plan accountable for best tax treatment

Are you looking for a way to give your employees a tax-free benefit that is also tax-deductible for your business? Why not consider an accountable plan?

An accountable plan is an arrangement that lets you reimburse your employees for expenses incurred on behalf of your company, such as driving to the post office or supply store. With a properly administered plan, you can deduct the reimbursements on your business tax return; yet the payments are not considered income to your employees.

Look into energy credits

The IRS reminds taxpayers that certain energy credits are still available. If you haven’t already taken advantage of them, this may be the year to make energy−efficient improvements to your home. You may be entitled to a credit of

Can happy employees equal healthy profits?

It is said that living by the Golden Rule – treating others as you would like to be treated – pays dividends. Can this be true in a small business work environment too? Business owners are increasingly finding that treating employees well can boost profits.

Creating a contented workforce is simply a matter of maintaining your most precious business asset. This can benefit your company in three ways.

Recordkeeping: How to get all that paper under control

It's spring cleaning time, and that includes your tax paperwork. While it can get a bit confusing, there are some general guidelines that you can follow.