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Tired of Managing Employee Performance Problems?
We understand. Dealing with employee non-performance issues is no fun – not for them, and not for you. Not to mention, it takes a lot of time - time that could be spent coaching high performers, developing new products, delivering on a promise to client, or...
Must-Know Tips About the Home Office Deduction
IRS Publication: Issue Number: IRS Tax Tip 2016-53 If you use your home for business, you may be able to deduct expenses for the business use of your home. If you qualify, you can claim the deduction whether you rent or own your home. You may use either the...
Can’t Pay Your Taxes on Time?
IRS Tax Tip 2016-48 The IRS urges you to file on time even if you can’t pay what you owe. This saves you from potentially paying a penalty for a late filed return. Here is what to do if you can’t pay all your taxes by the due date. 1. File on time and pay as much...
Tips for Deducting Losses From a Disaster, Fire or Theft
If you suffer damage to your home or personal property, you may be able to deduct these “casualty” losses on your federal income tax return. A casualty is a sudden, unexpected or unusual event, such as a natural disaster (hurricane, tornado, flood, earthquake,...
Why Investing in Small-business Stock May Make More Tax Sense Than Ever
By purchasing stock in certain small businesses, you can not only diversify your portfolio but also enjoy preferential tax treatment. And under a provision of the tax extenders act signed into law this past December (the PATH Act), such stock is now even more...
How to Max Out Education Related Tax Breaks
If there was a college student in your family last year, you may be eligible for some valuable tax breaks on your 2015 return. To max out your education-related breaks, you need to see which ones you’re eligible for and then claim the one(s) that will provide the...
Two Benefits-related Tax Credits Just for Small Businesses
Tax credits reduce tax liability dollar-for-dollar, making them particularly valuable. Two valuable credits are especially for small businesses that offer certain employee benefits. Can you claim one — or both — of them on your 2015 return? Retirement Plan Credit...
Three Income-tax-smart Gifting Strategies
If your 2015 tax liability is higher than you’d hoped and you’re ready to transfer some assets to your loved ones, now may be the time to get started. Giving away assets will, of course, help reduce the size of your taxable estate. But with income-tax-smart gifting...
A Brave New World in Lease Accounting
Many companies choose to lease certain assets, rather than buy them outright. Leasing arrangements are especially common among construction contractors, manufacturers, retailers, health care providers, airlines and trucking companies that rely on expensive...