The chance of an IRS audit are low, but business owners should be prepared
Many business owners ask: How can I avoid an IRS audit? The good news is that the odds against being audited are in your favor. In fiscal year 2018, the IRS audited […]
How to treat your business website costs for tax purposes
These days, most businesses need a website to remain competitive. It’s an easy decision to set one up and maintain it. But determining the proper tax treatment for the costs […]
What to consider when you lease commercial property
Decisions about location and leasing commercial space can be significant factors in determining a business’s long-term profitability. That’s because the cost of leasing space is often one of the biggest […]
Employee or contractor: know the difference!
Are some of your worker’s independent contractors instead of employees? Correctly classifying your workers will preserve the tax breaks that come with hiring independent contractors — and help you avoid […]
Money-saving ideas for your business
While business expenses can be very uncertain, many costs can be controlled. Consider implementing these money-saving strategies between now and the end of the year: Review employee benefits. You may bolster […]
3 warning signs your cash flow is at risk
Here are three warning signs you may be headed for a cash crunch, and tips to avoid them: Receivables aren’t being collected fast enough. When customers don’t pay on time, your […]
Businesses can utilize the same information IRS auditors use to examine tax returns
The IRS uses Audit Techniques Guides (ATGs) to help IRS examiners get ready for audits. Your business can use the same guides to gain insight into what the IRS is […]
Ideas to Help Control Health Insurance Costs
As health care costs continue to rise, businesses are facing some tough decisions to stay profitable while maintaining this important employee benefit. With insurance renewal season right around the corner, […]
How to effectively use your bad debt allowance
When your business extends credit to customers who don’t settle accounts, their debt becomes bad debt. For businesses using the accrual basis method of accounting, establishing the correct bad debt […]
IRS ALERT: Two New Tax Scams
The IRS remains on the lookout for tax scams that can blindside unsuspecting taxpayers. Now two variations of past scams are currently making the rounds. Here’s what you need to […]