A Delicate Matter – Lending Money to Family and Friends

October 20, 2017

Making a loan to a friend or family member may result in not only the loss of money, but can also damage relationships with your loved ones. There are times, however, when a loved one needs financial assistance and you may want to help them out. You should proceed with caution to limit the risk,…

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Apply the Research Tax Credit Against Payroll Tax

September 19, 2017

Many smaller businesses that engage in research and development haven’t been able to use the research tax credit because they pay little or nothing in income tax. That’s changed. In March 2017, the IRS issued guidance (Notice 2017-23) that provides information on the ways eligible small businesses can take advantage of this valuable credit. This…

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Scam Phone Calls – The Threat Expands

July 12, 2017

In previous postings on our website, we discussed various attempts by con artists to scam taxpayers. Recently, the Internal Revenue Service issued another warning of such tax-related scares directed at taxpayers across the country.

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What Are the Tax Implications of Hiring Household Help?

May 17, 2017

There’s no doubt that hiring someone to regularly clean your home, care for your children or an aging parent, or maintain your yard has the potential to help your life run more smoothly. There are many unexpected or hidden issues when you hire household help. You need to stay on top of the relevant legal, tax and reporting responsibilities. Here are some highlights of the tax-related obligations associated with household help.

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How to Manage a Windfall

February 1, 2017

Receiving an unexpected large sum of money, whether by winning the lottery, from an inheritance or a gift, is great, but it can also pose challenges. Knowing how to manage a windfall prudently is critical. This article provides some recommendations to help ensure financial security and achieve goals in the long term.

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Eight Questions to Ask Before Opening a Second Location

January 25, 2017

Before a business opens a second location, it’s wise for management to address some key questions to get a better sense of whether that new location will actually be successful. Issues to address include how well your current location is performing and how expansion might affect business at both locations. The article notes the importance of duplicating the people and processes that are keeping the current location running smoothly — and profitably.

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