Business Services

IRS: Partners Cannot be Employees

The IRS issued temporary regulations intended to halt the practice some partnerships have adopted of treating partners as employees of a disregarded entity owned by the partnership so they can be included in employee benefit plans and receive other benefits. However, the IRS is also asking for comments on when it might be appropriate to… Read more »

Save Taxes with Employer-Provided Transportation Fringe Benefits

The Internal Revenue Code allows some worthwhile tax breaks for transportation-related employee fringe benefits. They’re intended to persuade you to give up your gas-guzzling vehicle when commuting to work and instead “go green.” If your employer offers these tax-favored benefits, you should consider signing up. Here are the specifics. Favorable Tax Treatment The employer-provided benefits… Read more »

10 Elections That Can Save Money on Your 2015 Federal Taxes

This year’s presidential election has drawn significant attention, but the elections you make on your 2015 personal tax return can be just as important to your financial welfare. Here’s a list of 10 potential elections for individuals (including self-employed taxpayers) to consider making before tax day on April 18, 2016 (or April 19 for taxpayers… Read more »

Must Joint Activities Be Treated as Partnerships?

For federal income tax purposes, an unincorporated joint venture or other contractual or co-ownership arrangement under which several participants conduct a business or investment activity and split the profits is generally treated as a partnership. by

Take Back Your Life!

A lot business owners struggle with creating boundaries between their personal lives and their professional endeavors. That’s because by starting a business, they have become both financially and emotionally invested in the outcomes and successes of their company. And in order to manage their business and gauge their investments, business owners must initially take on… Read more »

5 Signs That It’s Time to Hire a Consultant

Many companies struggle with the decision of whether or not they should hire a consultant. It’s hard to know when to ask for help. And it’s even harder trying to determine whether or not hiring a consultant is a financially sound decision. The bottom line is that consultants have the capability of adding an unprecedented… Read more »

Why Smaller Accounting Firms Give Your More Bang for Your Buck

It’s easy to feel lost in large accounting firms. You find yourself leaving messages for Tim, that are returned by Anne three weeks later. Your emails seem to go unanswered. And scheduling an appointment for a quick consultation keeps getting pushed back another month. It’s frustrating, yes, but more than that, it’s a problem your… Read more »

3 Goals Every Small Business Owner Should Set

Business goals are bigger than simple New Year Resolutions you set in January. In fact, we believe that it is crucial for small business owners to set and reevaluate their business goals with each new quarter that arises. How else will know whether or not your business is meeting its true potential? As we enter… Read more »