This is an overview of Net Operating Carryback for Business Taxes, for the 2018 Tax Law.
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It is always good to know if you need improvement or something that can help you with your financial future. The financial records can be utilized to navigate your company. The following knowledge could be gained through this process.
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This article has some good tips on steps you should take to increase your opportunity for a successful outcome. Internal growth is critical to allow for strong external growth of a business venture.
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This is an overview of the Cash Method of Accounting for Business Taxes, for the 2018 Tax Law.
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This is an overview of the miscellaneous expenses subject to the 2% limitation for an individual, for the 2018 Tax Law.
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This is an overview of the Taxes on Schedule A for an individual, for the 2018 Tax Law.
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This is an overview of the medical expenses for an individual, for the 2018 Tax Law.
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This is an overview of the standard deductions for an individual, for the 2018 Tax Law.
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This is a brief overview of the 2018 Tax Act for individual returns.
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This is an interesting concept but double entry accounting is the foundation that has been established and used for accountability and the framework for international accounting standards.
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Artificial Intelligence (“AI”) will become more important to accountants in the near future due to the mass of detail required to comply with more sophisticated accounting conventions and complicated tax laws. There should always be a need for the review process performed by humans
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One of the most important – and complicated – changes in the new tax reform act is to tax rules affecting small businesses that are treated as “pass-through entities.”
The good news is that if you own one of these businesses you may get as much as a 20 percent reduction to the taxation of business net income under the new rules. However, calculating the actual deduction can become very complex. It depends upon several factors, including your level of income, your profession, the amount your business spends on wages and property acquired during the year.
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Congress has passed a tax reform act that will take effect in 2018, ushering in some of the most significant tax changes in three decades. There are a lot of changes in the new act, which was signed into law on Dec. 22, 2017.
You can use this memo as a high-level overview of some of the most significant items in the new act. Because major tax reform like this happens so seldom, it may be worthwhile for you to schedule a tax-planning consultation early in the year to ensure you reap the most tax savings possible during 2018.
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Business evaluation experts have been practicing and evolving landscape for the past several years. New standards, changing technology, and an aging population are all playing a part in the change. What are the emerging trends that you are seeing in business development right now? I frequently see clients that are referred for evaluation work where upon talking to the client, it's not really evaluation they are looking for, and rather it’s how can they prepare themselves to potentially sell the company. While they are thinking evaluation, what they really need is advisory services.
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In the preface, Secret Service takes a serious look at the most important number a business can track: customer retention. By creating hidden systems that truly impress customers you will see your retention rates soar. Secret Service explains how to:
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We are all aware that taxpayers can benefit from both donating cash and non-cash items such as clothing, furniture, and appliances to Goodwill or The Salvation Army. But what about larger items such as real estate? What about a house?
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What will you need to sell your life long investment?
You go to school many years to learn your profession. Typically you work for several years to obtain your skills and technique. Then the big plunge: you borrow money and go out on a limb to purchase a business or build one from the handle. Like most mechanics in a professional function, there is a right way, and there is a wrong way. You learn from your mistakes; some are critical.
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After reviewing, several clients that have left the firm due to fees and potential errors made in the filings. I have detected some common denominators.
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Our clients need to enable us to be creative with planning, strategy, and procedures. If we're able to have the time to truly look under the hood, we can create positive changes in your infrastructure. If we were put in a box, it will limit our ability to assist you with the last 10% is really the differentiator.
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Are you considering transferring ownership in your business to your staff, a family member or third party? I truly know how you feel. I can be empathetic because I have experienced transferring a business to a new 50% partner, transferring a minority share to an employee, selling a business to a third party, and actually purchasing a business from a third party. Each transfer had a unique flavor and having someone in your court with experience in each of the situations is very important. You are looking for the best possible outcome in a transaction where you may have no experience or this may be the one and only time you ever transfer ownership in a business you built.
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