Consider Section 179 Deductions for Real Estate Expenses

The Section 179 deduction for qualified real property expenses was made permanent under the Protecting Americans from Tax Hikes (PATH) Act of 2015. However, claiming this deduction isn’t a no-brainer. Here are the pros and cons. Section 179 Deductions: The Basics The Sec. 179 deduction allows you to write off qualified expenses in the year […]

Posted In: Tax Advisor, Tax Deductions, Tax Filing

Train Employees to Avoid Cybercrime

In an era of hyper-connectedness and a burgeoning global cybercrime industry, you can’t afford to hope you’ll just be lucky and avoid a successful attack. It’s essential to establish policies and procedures to minimize risk and train employees on how to protect your company. The basic kinds of criminal acts you need to guard against […]

Posted In: Business

Seniors: Consider These Tax Breaks When Filing for 2016

Are you an “experienced” taxpayer? Here are a couple of age-based tax breaks that seniors shouldn’t overlook when filing their 2016 returns. 1. Claim Your Rightful Medical Expense Deductions If you’re 65 years of age or older, you may have fallen into the habit of automatically claiming the standard deduction instead of itemizing your deductions. […]

Posted In: Tax Advisor, Tax Deductions, Tax Filing

Handling Interest Expense on Loans to Inject Capital

There are instances when you can write off interest on personal loans used for business purposes, such as injecting capital into an S corporation, multi-member LLC, partnership or C corporation. But keep in mind that interest expenses must be classified into one of four categories (see box at the bottom of this article for details). Different […]

Posted In: Tax Advisor, Tax Deductions, Tax Filing

PCI Compliance: Protect Customer Information

The explosion in the use of debit and credit cards is not without a downside. As more and more credit cards are provided to merchants, the potential that the information will be stolen also increases. Consumers expect their card information will be handled by merchants in a secure manner. When card data is stolen, consumers […]

Posted In: Business

Build Teams for Growth and Success

Teamwork. It’s a common enough term these days, and well-known companies such as General Electric, 3M, Texas Instruments and Federal Express have been using it to their advantage for decades. Now an increasing number of businesses have taken up team building for growth, efficiency and competition. Cohesion in Japan It begins early in childhood. Japanese […]

Posted In: Business

Remember RMDs this Tax Season

  Did you know that, once you turn age 70½, you must start taking mandatory annual withdrawals from your traditional IRAs, including any simplified employee pension (SEP) accounts and SIMPLE IRAs that you set up as a small business owner? Beyond Your IRAs Different rules and conditions may apply to RMDs from inherited accounts and […]

Posted In: Tax Advisor, Tax Deductions, Tax Filing

IRS Updates FAQs on Certain ACA Provisions

The Trump Administration and the Republican majority in Congress plan to repeal and replace the Affordable Care Act (ACA) in the coming months. In the meantime, however, employers must continue to comply with the existing rules for 2016, including the information reporting requirements and shared responsibility provisions. The IRS previously issued three sets of FAQs […]

Posted In: IRS

Unsolicited Fax Advertisements

Spam, or unsolicited e-mail, has become a well-publicized problem for nearly every business or individual using the Internet. Less publicized are the unsolicited advertisements that clog fax machines across the country. Businesses should be aware that there are options available to stop the flow of these unwanted “junk fax” ads. Junk Fax Prevention Act The TCPA […]

Posted In: Business

Quick Tips for Searching in Quickbooks

The power of the search engine in QuickBooks has gotten much better over the years. However, there are still some tips that can help you save time. Here’s a rundown of how to look for what you need in QuickBooks. First and foremost, make sure you have the “Search” function enabled. If you don’t see the […]

Posted In: Quickbooks

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