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Hire your children this summer: Everyone wins

5/20/2019

Are you a business owner with teenage or college-age children who constantly need money? Make them earn the money by hiring them. You can save taxes and reap other benefits.

Tags: tax

Close-up on financial statements

5/17/2019

There are three types of financial statements. One is the income statement. Can you name the other two? Click on the link for the answer and to learn what each statement says about your company’s financial performance.

Tags: audit

Selling your home? Consider these tax implications

5/15/2019

Are you selling your principal residence? You may be able to exclude up to $250,000 ($500,000 for married joint filers) of gain. Here are the tax rules for home sales.

Tags: tax

Don’t let a disaster defeat your nonprofit

5/15/2019

No nonprofit can anticipate or eliminate all possible risks. But you can limit the damage of natural and manmade disasters and get back to work faster if you develop a continuity plan.

Tags: nonprofit

Consider a Roth 401(k) plan — and make sure employees use it

5/13/2019

A Roth 401(k) can be a valuable retirement savings option to add to your company’s benefits package. But make sure employees use it.

Tags: tax

Comparing internal and external audits

5/10/2019

Internal and external auditors provide complementary coverage of financial matters that can help you make informed business decisions. What’s the difference between them?

Tags: audit

Developing a fundraising plan that works

5/8/2019

If your nonprofit’s fundraising efforts are falling a little flat, it’s time to take a new approach. Here’s a step-by-step guide to forming a fundraising committee and making a strategic plan.

Tags: nonprofit

Check on your refund — and find out why the IRS might not send it

5/7/2019

In most cases, refunds are routinely sent to taxpayers within a few weeks. However, there may be delays, or, in worst-case scenarios, refunds may be applied to debts owed to the federal or state governments.

Tags: tax

What type of expenses can’t be written off by your business?

5/6/2019

If you spend money in the course of doing business, you want to be able to write it off on your tax return. But in order to be deductible, expenses must meet certain requirements. Here are the rules.

Tags: tax

Lean manufacturers: Reap the benefits of lean accounting

5/3/2019

How well are your lean improvement efforts working out? You probably won’t find the answer in your traditional financial statements. Here’s an accounting method that’s designed to complement lean manufacturing.

Tags: audit