Beyond the Numbers

Manage Capital Gains Tax Tips

If not tracked and managed properly, capital gains tax can come as a large surprise at tax-filing time. In fact, many taxpayers don’t realize they have a capital gain until they get their 1099 form in January and see a capital gain distribution. Here’s what you need to know. Understand capital gains and their taxability…

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Elements of a Good Business Partnership

Like a bundle of sticks, good business partners support each other and are less likely to crack under strain together than on their own. In fact, companies with multiple owners have a stronger chance of surviving their first five years than sole proprietorships, according to U.S. Small Business Administration data. Yet sole proprietorships are more…

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Useful Online Productivity and Security Tools

Here are several popular free or inexpensive online tools that can help manage and protect your online activities. They range from password management tools to security protection services. Password Managers A decade-old study by Microsoft estimates that the average person memorizes about six passwords and reuses them over and over. Today most people use dozens…

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Tax Planning Time

Now is the ideal time to schedule a tax planning session. Your 2017 tax return outcome is still fresh, and it’s early enough in the year to take advantage of the numerous tax law changes taking place in 2018. Here’s a brief overview of some of the new tax issues that you need to plan…

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Overlooked Business Metrics

Revenue, gross margin, net profit — these are the basic metrics every small business owner watches closely. But there are also some often-overlooked metrics that can deepen your insight into your business and inform your decision-making. Here are a few: Check Customer acquisition cost. Divide the total amount of money you’ve spent on marketing over…

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New! Small Business Medical Leave Credit

There’s a new business tax credit that partially reimburses employers for providing paid family and medical leave for select employees. But small businesses should be informed before they try to use this new Family and Medical Leave Act (FMLA) tax break. Basics of the new credit Employers who provide at least two weeks of paid…

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Major Tax Deadlines – For APRIL 2018

April 17 – Individual income tax returns for 2017 are due. 2017 calendar-year C corporation income tax returns are due. 2017 annual gift tax returns are due. Deadline for making 2017 IRA contributions. First installment of 2018 individual estimated tax is due. Note: Businesses are required to make federal tax deposits on dates determined by…

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Stay prepared to sell your business

If you enjoy running your own business, selling it may be the furthest thing from your mind. But the reality is that eventually an opportunity to sell will come, whether due to your own life changes or a perfect buyer walking in the door. Planning, often years in advance of the sale date, is necessary…

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Alert: Expired home and education tax breaks revived

Congress passed a federal budget bill in early February that revived dozens of expired tax breaks for the 2017 tax year. They include a deduction for education expenses as well as several tax breaks for homeowners. If you have not yet filed your 2017 tax return, please be aware these late changes are retroactive to…

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Tax checklist for business startups

Starting your own business can be equal parts thrilling and intimidating. Complying with regulations and tax requirements definitely falls into the later category. But, with some professional help, it doesn’t have to be that way. You can get started with this checklist of things you’ll need to consider. Are you a hobby or a business?…

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