Kevin meets with at least fifty new business owners each year. He tries really hard not to get up on a soapbox about his personal opinions; however, there is one story he tells nearly every single client who is about to open their own business. Several years ago, we had a client who was struggling […]
With the holidays having passed, we would like to bring up the topic of hobbies and businesses. Do you have a passion for something which you are particularly talented at? Perhaps you made candles or other homemade gifts for your loved ones during the holidays. Have you ever sold or given away any of the […]
“To incorporate or not to incorporate: that is the question.” Running a business can be overwhelming, especially when it comes to matters such as incorporation. Because Shakespeare is no longer available, and not a tax professional, we would be happy to discuss these issues with you. With the new tax bill in effect now, we’d […]
In 2017, Congress passed the most significant tax reform since 1986. A specific change to the law is in the Marginal Tax Brackets, or what most people call “Tax Brackets.” Tax brackets are ranges of incomes taxed at a given rate. The new tax bracket rates came into effect on January 1, 2018 and guess […]
Income Tax Projections His pulse raced, his hands and brow dampened, and he squirmed in his chair as he sat across from his accountant. How could I owe $30,000 to the IRS? There had to have been some mistake. He couldn’t possibly owe the IRS $30,000. Unfortunately, this happens more often than you might think […]
Victims of Hurricane Sandy may be entitled to some tax relief, according to a recent announcement by the IRS. Certain tax filing and payment deadlines from late October on will be extended until February 1, 2013. This includes the final 2012 estimated tax payment (normally due January 15, 2013) and payroll and excise taxes (normally […]
December deadline for tax-exempt reinstatement: Here’s an important reminder for small nonprofit organizations: If your organization had its tax-exempt status revoked for failing to file an annual return from 2007 through 2009, the IRS is giving you a chance to get reinstated. The IRS has issued guidance for small organizations with gross annual receipts of […]
Experienced investors don’t need to be convinced about the inherent volatility of the stock market. Prices seem to soar and plummet regularly. One possible investment strategy for smoothing out the inevitable ups and downs is called “dollar cost averaging.” But this long-standing investment method has as many detractors as proponents. The basic concept is relatively […]
Tax-exempt organizations are required to file annual reports with the IRS. Those with gross receipts below $50,000 can file an E-postcard rather than a longer version of Form 990. The deadline for nonprofit filings is the 15th day of the 5th month after their year-end. For calendar-year organizations, the filing deadline for 2011 reports was […]
Business owners focus a lot of attention on building better products. When their products are hot, the company does well, despite other shortcomings. Certainly, new and better products are essential, but focusing on building a better business – one that readily adapts to change and quickly responds to crisis may be even more important. How […]
