Understanding your company’s true value is the foundation of every major business decision you’ll make. But when exactly should you invest in a professional business valuation? The timing can make all the difference in maximizing your business’s potential. It’s Never Too Early According to business valuation expert Hank Boone, there’s “never a wrong time” to …
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For many small business owners, the need for assurance services is clear, but choosing the right option often feels like navigating a maze. Assurance services are independent professional services that enhance the reliability and credibility of information for decision-makers. These services, often provided by CPAs, assess the accuracy and effectiveness of financial information, internal controls, …
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Building on the foundational strategies from part one of our tax planning strategies series, let’s explore five additional tax planning strategies that can impact your bottom line. These strategies encompass a range of approaches, from real estate optimization to startup incentives and entity selection. Cost Segregation Study: Accelerating Real Estate Deductions If you own commercial …
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Thoughtful tax planning can be the difference between keeping thousands in your pocket or sending them to the IRS. While many business owners focus on growing revenue, the most successful ones understand that strategic tax planning is equally important for building wealth. Here are four powerful strategies that can significantly reduce your tax burden. Cash …
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While much attention has focused on the One Big Beautiful Bill Act (OBBBA) business tax provisions, the legislation also delivers significant individual tax changes that directly impact business owners and their families. From enhanced estate planning opportunities to new temporary deductions, these personal tax modifications create both immediate benefits and long-term planning considerations that should …
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President Trump’s signature on July 4th delivered comprehensive tax reforms that will reshape the business tax landscape. The One Big Beautiful Bill Act (OBBBA) preserves numerous expiring business tax benefits while introducing new cuts aimed at promoting economic growth. For small to mid-market businesses, these changes present significant planning opportunities worth exploring. Business Tax Benefits …
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Tuesday, April 15 is the deadline for filing your 2024 tax return. But another tax deadline is coming up the same day, and it’s essential for certain taxpayers. It’s the deadline for making the first quarterly estimated tax payment for 2025 if you’re required to make one. Basic details You may have to make estimated …
Read more “An essential tax deadline is coming up — and it’s unrelated to your 2024 return filing”
Understanding your business’s financial health is essential for long-term success. QuickBooks® offers a powerful reporting tool suite that can provide critical insights to support decision-making and help you comply with accounting and tax rules. Accrual-basis QuickBooks users should get in the habit of reviewing the following five reports monthly to keep their finances in check …
For employers looking to safeguard their organizations from fraud, payroll is among the most obvious targets they must protect. That’s where the money is, after all. Payroll can stand out as a bright red bullseye for criminals if not carefully guarded. How bright? In its Occupational Fraud 2024: A Report to the Nations, the Association …
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Employers that offer a 401(k) plan should generally encourage participants to invest as much as they can and not touch the money until retirement. However, there may be instances when employees feel they need to access their plan funds before reaching retirement age. In some of those cases, participants may qualify for a 401(k) hardship …
Read more “The Current Standard for Approving 401(k) Hardship Distributions”
