Archive for November 2017
New Year, New Role: Law Firm Partners Face Special Tax Considerations
Every Jan. 1, many lawyers across the country add “I just made partner!” to their “Happy New Year!” wishes, since new partnerships often kick in at the start of year. So the new year can mark the start of major financial changes for newly-minted equity partners, including important tax considerations that don’t concern law firm…
Read MoreThe State(s) of Your Business: Understanding Income Tax Nexus for Law Firms
We all know that state governments look for additional revenue to close their budget gaps. One method they use is to tax companies that do business in their state, even if the companies are based somewhere else. So, how does that affect a law firm — or any other professional services firm? And what do…
Read MoreWhat to Consider When Starting a Restaurant Delivery Service In-House
If diners aren’t asking a favorite spot about starting a restaurant delivery service, odds are they will soon. Thanks to mobile apps and dwindling delivery charges, dinner in is no longer limited to pizza or sesame chicken, and consumers are pushing for more options. When The Cheesecake Factory began offering delivery, guest satisfaction increased because…
Read MorePre-Employment Assessments: Hiring Is More than Just an Interview
Organizations need to move fast to recruit and hire top candidates, and pre-employment assessments are an excellent tool for doing so. Businesses already invest significant time and money in identifying, vetting and onboarding new employees. A 2016 study by the Society for Human Resource Management (SHRM) reported the average cost per hire is $4,129 and…
Read MoreSection 1202—A Powerful Tool: C-Corporation Shareholders Limit Tax Liability
Getting familiar with section 1202 also known as the qualified small business stock is a powerful tool for those looking for tax relief. If you are an established high tech company doing business with the government or private industry, your business may have progressed from being a small one or two person cash basis S…
Read MoreGet in on the Ground Floor With Mixed-Use Affordable Housing Projects
It used to be common to set affordable housing projects away from shops and services, creating unbreakable cycles of separation that led to urban blight and despair. But today’s developers are adding retail tenants and more to mixed-use affordable housing projects to build stronger, more valuable communities. Over the past decade, examples have popped up…
Read MoreSelling a Business? Why a Quality of Earnings Report Must Be a Top Priority
If you’re selling a business, preparing a quality of earnings report should be at the top of your to-do list. The analysis of your expenses and revenue gives potential buyers visibility into your organization and accounting practices. A seller’s lack of preparation is one of the most common factors to sideline a deal. Don’t let…
Read MoreHiring a CFO for Your Nonprofit: Is Now the Time?
Hiring a CFO lets nonprofits handle demanding fiscal responsibilities and plan for growth. But determining the right time to do so is often challenging.
Read MoreHotel and Restaurant Owners: Renovations Equal Tax Depreciation Deductions
As 2017’s tax year begins to wind down, hotel and restaurant owners will be able to take advantage of a variety of tax depreciation incentives. These tax deductions can be substantial if a hotel and restaurant owner purchases a high quantity of fixed assets, or if a major buildout or refurbishment project for their property is…
Read MoreWith Workers on the Clock, Companies Must Defend Against Class-Action FLSA Claim
Keeping good records of hourly employees’ work hours is essential to building the analytical models needed to defend against a class-action FLSA claim.
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