I work with the outdoor retail industry including specialty bike shops & outdoor retailers. As tariffs approach 25% from china-made goods, many retailers have started to panic. Some believe this will end their business, or cause huge losses. Although I empathize with them, I also see that in all things, there is a silver lining. […]
There is a silver lining in all things – even Retail Read More »
Do your plans for the future include selling your small business? For the best chance of a successful outcome, you’d be smart to start preparing for the sale well in advance. For What It’s Worth After you’ve built your business from the ground up, being objective about its value can be difficult. If you know
Selling your business? – Do this first Read More »
How would you like Uncle Sam to pay for part of your vacation? Sound unlikely? If you combine your vacation with a business trip, you may be able to deduct some of your expenses. Pay attention to the rules, though. Expenses must meet certain requirements before they’re tax deductible. General Guidelines As long as your
Can you deduct the cost of your vacation? Read More »
If you’re in business for yourself, you know how challenging it can be to run your business and keep on top of your tax situation. Here’s a refresher on the tax rules you need to be aware of if you’re a self-employed sole proprietor or are thinking of becoming one. Income Taxes As you probably
Tax Concerns for the Self-Employed Read More »
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See how federal taxes change in different business structures Read More »
Affectionately being referred to as the Pass-Through Deduction, the new tax law will allow partnerships, LLCs, S corporations and sole proprietorships (in other words, pass-throughs) to deduct up to 20% of their Qualified Business Income under revised provisions of IRC § 199A. How is the Pass-Through Deduction Calculated? The Pass-Through Deduction usually will be whichever
How It Works: The New 20% Pass-Through Deduction for Businesses Read More »
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