Some small businesses develop gradually, transforming from a part-time hobby to a full-time operation. Others go from zero to a hundred in just a few weeks, as entrepreneurs turn ideas into profitable enterprises, seemingly overnight. In either case, it’s easy to overlook certain details, such as how the business is structured. After all, there are […]
5 Common (and Costly) Payroll Errors and How to Avoid Making Them
Payroll is one of the most important aspects of any business, but it’s one that, when running smoothly, business owners don’t tend to think about; however, when there’s a payroll glitch, it jumps to the forefront of an owner’s mind. Here are several payroll mistakes that can cost you a bundle and how to avoid […]
Why Your Revenue-First Strategy is Doomed
The sad truth is that 50 percent of new businesses fail in their first year, and many of the rest only hang on for another year or two. After pouring your heart and soul into achieving your goals, it is a tragedy when finances force you to close your doors. Most entrepreneurs launch their start-ups […]
Quick Tips for Tax Savings: Physician Edition
Doctors offer critical services to the community through prevention and treatment of health issues. However, getting the necessary education and experience can be challenging – both physically and financially. In an effort to make life a bit easier for physicians, lawmakers have put together a variety of programs to reduce tax liability for doctors. Maximizing […]
Uncovering the Secrets of Cost Segregation
Even the most savvy investors and tax experts often avoid the topic of cost segregation. It’s complicated, and a careful reading of tax code doesn’t do much to clear things up. Most IRS-approved applications of cost segregation were developed through individual rulings, rather than written into tax regulations, making it a challenge to get a […]
Simple Solutions for Resolving Outstanding Tax Debt
Despite your best efforts, there is always a possibility that your tax bill will be larger than planned. For those on a tight budget, this can be a problem. Fortunately, if you can’t afford to pay your bill in full by the date it is due, the IRS offers several alternative options. The most important […]