How To Get a Deduction for Sports Team Sponsorship
Brand awareness and name recognition is every business owner’s dream. The more people who see your advertising, the more likely you are to attract your ideal client. However, how does team sponsorship affect your ability to take a tax deduction? Ideally, aim for some return. Before sponsoring a sports team, find out what you get for the […]
Getting the most from overtime hours with tax free supper money
There are ways to appreciate your employees and to be a great boss. Sometimes work load demands that the whole team works together to reach an approaching deadline. Moreover, it’s in the manager’s best interest to have everyone put in those extra overtime hours to get the work completed on time. However, employees must take […]
5 Tips for Better Cash Flow in Your Business
A positive cash flow is the life blood of any thriving business. Cash flow is the difference between incoming and outgoing money. To have a positive cash flow, you must have more incoming money than outgoing expenses. However, many small business owners don’t look at these numbers. They never have assurance that they are being […]
Outsourcing 6 Things To Get More Time Every Day
Every business owner is wearing multiple hats every day. You are responsible for all aspects of keeping your business running efficiently. The problem is you need more hands to get it all done in a reasonable amount of time. Hiring permanent staff might be an option, but there are Human Resource requirements to consider, labor […]
Preparing Meeting Minutes for Your S-Corporation
Protecting your business is easy to do by knowing the rules for corporations and abiding by them. Dot your i’s and cross your t’s. If you structure your business as an S Corporation, there are plenty of tax deduction perks. Moreover, your business is seen as its own entity. But to have these benefits, even […]
How flowers can make YOU an awesome boss.
These days, there’s more to happy employees than offering a good wage. Happy employees love where they work because they feel appreciation for being part of the success of the company. But, how can you benefit from showing appreciation to your employees without it costing them in taxable “income”. When is it ‘de minimus’? When […]
Get Your Tax Advice From a Trusted Source
Many business owners want to pay as little in taxes as possible. I don’t blame them. After all, your earnings are a result of your own hard work. However, taking advice from internet sources and hoping to “get away with it” is a dangerous path for any business owner. The livelihood of your business depends […]
How to start your small business retirement planning.
Business owners are notorious for focusing on the day-to-day operations of their business. However, retirement planning is vital for business owners. Not only is it wise when planning for your golden years but it also offers you immediate tax deductions for your business entity. In fact, unlike employees, the business entity has until their tax […]
Retirement Planning for Business Owners
Looking to de-stress your retirement planning? Who isn’t? Start planning today in order to retire comfortably. Tax free compounding is the magic ingredient for early retirement planning. Another advantage is tax deductions, which are basically long term loans from the government without interest. Moreover, you don’t pay back the loan until decades from now. Thus, imagine […]
3 Things To Avoid When Incorporating Tax Free
Section 351 makes it possible for businesses to incorporate tax free, assuming they meet certain requirements. This is great news for business owners! Let’s say you want to form a new business as a corporation. Or, you might want to convert a proprietorship or partnership to a corporation. These can be done tax-free. However, you’ll […]