The Best Time to Start Planning for Your Taxes is Now

There are less than three months left in the year. Think that means six months before you have to think about your taxes in March or April? Think again or be ready to pay the price. 1. Avoid Surprise Bills and Estimated Tax Penalties Tax reform was called the Tax Cuts and Jobs Act, but thanks to the end of …

3 Effective Tips for Managing Small Business Health Care Costs

The ACA is still the law, and if you have 50 or more full-time employees (FTEs), you’re still required to provide health insurance. But with rising health care costs, managing these fringe benefits can easily get expensive. So, it’s crucial to manage these costs to stay compliant with the law. The great news is that managing your small business health …

Are You Going to Get a Surprise Tax Bill in April? How to Stop It

If you’ve vaguely heard that there’s a new tax law but are waiting until April to let your CPA run the numbers, you could be in for a shock. Even though most people will still be covered by their employer withholding or estimated tax payments, changes to a few key deductions could mean a tax increase you weren’t expecting. Reduced …

Tax Considerations of Selling Your Business

Whether you’re selling your business to start a new venture or you’re looking to convert your equity in the business into cash, selling your business is often a viable idea. But there are a few key aspects that come along with the sale of a business, which can have tax implications. Here are some essential tax considerations to take into …

Starting a Business vs Buying a Business

If you’re thinking about owning your own business, you may have never thought about anything other than starting from scratch. Or you may feel like buying an existing business is cheating or out of reach. But the reality is that either option could be right depending on your needs. Cash Outlay For a small cash outlay, starting from scratch almost …

What You Need to Know About Crowdfunding and Taxes

Crowdfunding continues to be a popular way of raising money, but you need to stop and think before you jump on the bandwagon. As with other transactions, the IRS wants its piece of the pie, and you need to make sure you understand the tax rules to avoid an April surprise. Three Types of Crowdfunding There are three general categories …

Do You Want to Be an Independent Contractor or Employee?

If you have a choice to take a job as an employee or independent contractor, which one is better? It depends on a few factors. First, Do You Have a Real Choice? The IRS has a strict set of guidelines for determining whether someone is an independent contractor. Neither employers nor employees can choose one or the other just because …