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Family Business

Don’t Let a Disaster Derail Your Business

With the recent frequency of hurricanes, earthquakes, tornadoes, floods and wildfires, it’s worth reviewing ideas to ensure your business can survive if it faces its own disaster. Here are some steps you can take to create a disaster plan for your business: Identify your exposure. The first step is to conduct an evaluation of your…

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5 Annual Tax Essentials

The more things change the more they stay the same. This is especially true when it comes to reviewing your tax situation. Mark your calendar to review these essential items each year to ensure you are not missing something that could cause tax trouble when you file your tax return: Required minimum distributions If you…

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Six Ideas to Help Your Small Business Survive AND Thrive

If you are like millions of taxpayers trying to make a living running a small business, you know it is tough out there. Here are six ideas to help your business survive and thrive. Understand your cash flow. One of the biggest causes of business failure is lack of positive cash flow. At the end…

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Hedging Against a Trade War

As a small business owner, the words “trade war” and “tariff” can be unsettling. When cost uncertainty is on the horizon, you will want to be prepared as much as possible. Here are some ideas to help you navigate your business through a possible trade war. Tariffs defined A tariff is a tax on imports…

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Give your Credit Score a Boost

Your credit score is one of the most important aspects of your financial health. It is used by potential lenders, landlords and even employers to analyze your financial situation in one way or another. Here are some tips that might help you improve your score: Review your credit report and, if necessary, fix errors. You…

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Combat Employee Turnover

With unemployment at historically low rates, retaining employees is harder than ever. Here are some tips to help your business maintain a thriving workforce: Invest in current employees. One of the key opportunities for business success is continual investment in your current workforce. If you have employees with potential to grow, offer training and continuing…

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The Eye-Opening Video Games Phenomena

Over the course of the last 20 years, video games have morphed from an entertainment choice to a lifestyle. According to a 2018 Nielsen study, a whopping 66 percent of Americans 13 and older identify themselves as gamers. Here’s what you need to know: Major developments A massive 24/7 online community. Instead of needing friends…

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Is a Tax Surprise Waiting for You?

Often lost in the excitement of large-scale tax change is how they can negatively impact some individual situations. Check out the questions below to see if you might be in for a tax surprise this year. Will you pay more than $10,000 in state and local taxes? Previously, you could take a full deduction for…

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Manage Capital Gains Tax Tips

If not tracked and managed properly, capital gains tax can come as a large surprise at tax-filing time. In fact, many taxpayers don’t realize they have a capital gain until they get their 1099 form in January and see a capital gain distribution. Here’s what you need to know. Understand capital gains and their taxability…

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Setting Up Your Business Accounting System

You’ve done the hard work. You have a new business idea or you’ve found an existing business to purchase. Want to help ensure your business success? Pay attention to correctly setting up your business’ accounting system. Here’s how: Consider business entity. Choosing the right legal and tax entity for your business is important. Consult experts…

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