By now most of you know that pending tax reform legislation is underway. On November 16 the House of Representatives’ passed its version – HR 1: The Tax Cuts and Jobs Act. Also on November 16, the Senate Finance Committee approved its amendments. Next week we should see the full Senate’s vote. As we promised…
Tax planning is the process of looking at various tax strategy options to determine when, whether, and how to conduct business and personal transactions to reduce or eliminate tax liability. But why is tax planning so important? You might be thinking that with potential major changes to the tax code, it’s hard to know what…
Are you better looking than your friends? Are you smarter than the average person? Are you an above average driver? It is human nature to overestimate our knowledge, overrate our attractiveness, and overprize our skills. One study found that 94% of college professors considered themselves above average in the classroom, while another study found that…
You take great care to cultivate clients for your law practice and have worked diligently to help the practice grow successfully. Now that you take great care to do all these things, you also want to focus attention on the business of the practice to make sure it is staying viable and is run correctly….
Just because you are a small or mid-size business does not mean that you should not get the expert help needed that helps to keep your business well-organized and gives you a chance to excel. Too many small business owners today get caught up in trying to do everything for themselves and find that there…
While it is certainly important to your business that you supply what your customers and clients need and want, to operate a successful business, you need to go beyond simple productivity. Turning out great products and services will help you make sales, but without proper business management to provide the structure your business needs, you…
Today, owning and operating a small business presents many challenges. There are many things you need to consider so you can meet the needs of your clients and customers. Beyond providing great products and services, you need to have excellent customer service skills and a quality supporting staff to help you. Additionally, you need to…
Who Should File a Tax Return? Everyone’s situation is different when dealing with taxes. It may come as a surprise, but not everyone has to file taxes. Commonly, if your total income for the year doesn’t surpass the standard deduction plus one exemption and you aren’t a dependent to another taxpayer, then you don’t need…
Tax Tips for the Self-Employed If you’re self-employed, you generally have a trade or carry a business. Two types of self-employment are: sole proprietors and independent contractors. If you work as an independent contractor and have not setup a business entity, like an LLC or corporation, your business is essentially the same as a sole…
Small Business Financing: Securing a Loan When owning a small business, there will most likely come a time when you’ll reach out to a bank or financial institution in order to borrow funds. Secured business loans are a common type of small business funding. A secured business loan is any type of business financing that’s…
