The Tax Cuts and Jobs Act (TCJA) has changed the landscape on selecting the best business structure for taxes. That’s because the law introduced a flat 21% federal income tax rate for C corporations. Under prior law, profitable C corporations paid up to 35%. The TCJA also cut individual income tax rates, which apply to … Continue reading “What Is The Best Business Structure For Taxes?”
Month: June 2019
Types Of Key Performance Indicators: Put A Number On Your Midyear Performance
We’ve reached the middle of the calendar year. So how are things going for your business? Conversationally you might say, “Pretty good.” But, analytically, can you put a number on how well you’re doing — or several numbers for that matter? You can if you choose and calculate the right types of key performance indicators … Continue reading “Types Of Key Performance Indicators: Put A Number On Your Midyear Performance”
2019 Q3 Tax Calendar: Key Deadlines for Businesses and Other Employers
Here are some of the key deadlines Q3 2019 affecting businesses and other employers. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact our accounting firm to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. Key Deadlines Q3 2019 … Continue reading “2019 Q3 Tax Calendar: Key Deadlines for Businesses and Other Employers”
Hiring This Summer? You May Qualify For A Valuable Tax Credit
Is your business hiring this summer? If the employees come from certain “targeted groups,” you may be eligible for the Work Opportunity Tax Credit WOTC program. This includes youth whom you bring in this summer for two or three months. The Work Opportunity Tax Credit eligibility allows employers maximum credit ranging from $2,400 to $9,600 … Continue reading “Hiring This Summer? You May Qualify For A Valuable Tax Credit”
Separation of Business and Real Estate Holdings
Like most businesses, yours probably has a variety of physical assets, such as production equipment, office furnishings, and a plethora of technological devices. But the largest physical asset in your portfolio may be your real estate holdings. That is the building and the land it sits on. Under such circumstances, many business owners choose to … Continue reading “Separation of Business and Real Estate Holdings”
Employers: Be Aware (or Beware) of the Penalty for Not Paying Payroll Taxes on Time
If federal income tax and employment taxes (including Social Security) are withheld from employees’ paychecks and not handed over to the IRS, a harsh penalty can be imposed. To make matters worse, the penalty for not paying payroll taxes on time can be assessed personally against a “responsible individual.” There are escalating payroll tax penalties … Continue reading “Employers: Be Aware (or Beware) of the Penalty for Not Paying Payroll Taxes on Time”
Sales Prospecting Techniques: Targeting & Converting Your Company’s Prospects
Companies tend to spend considerable time and resources training and up-skilling their sales staff on how to handle existing customers. And this is, no doubt, a critical task. But don’t overlook the vast pool of individuals or entities that want to buy from you but just don’t know it yet. We’re talking about sales prospecting. … Continue reading “Sales Prospecting Techniques: Targeting & Converting Your Company’s Prospects”