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Determining if an Advisory Board is Necessary (and How to Form One)

Wed, Feb 15th 2017
Whether it’s a newly formed company or an established one, getting an external perspective can be helpful to continued success, regardless of industry. What does an advisory board do and what are its primary attributes? Advisory Board Purpose & Makeup The primary purpose of an advisory board, which has no power to direct or authorize business decisions, is to guide a company’s executives and board of directors on a myriad of governmental, monetary and commerce topics.    While each advisory... Read More »

Top Tips to Prepare for Tax Season

Tue, Feb 7th 2017
It’s here again, the most wonderful time of the year – tax season. Uncle Sam is the reason for the season, and the IRS is ready to give everyone a nice tax bill. Fortunately for you, we have the top tax tips, so you don’t end up with an excessive bill. 1.     Shield Your Personal Information You can get an Identity Protection (IP) PIN from the IRS to help protect your identity. An IP PIN is a six-digit number that helps prevent fraudulent use of your Social Security number on federal income tax... Read More »

New Provision Restores Health Plan Options to Small Business Owners

Tue, Jan 31st 2017
Small business owners struggling to find health plans for their staff and facing limited affordable options will welcome new provisions that again allow them access to health reimbursement arrangements (HRAs). Under the revised Qualified Small Employer Health Reimbursement Arrangements (QSEHRAs), small business owners with less than 50 full-time employees are no longer prevented from helping pay for individual employee’s health insurance through reimbursement arrangements. As of Jan. 1, 2017,... Read More »

Business Leases: Essential Elements to Have (and Avoid)

Tue, Jan 24th 2017
Whether for a first-time commercial lease or if it’s time to move to a bigger and better building with a new business lease, understanding all of the elements in the contract can avoid a lot of potential problems down the road. Types of Leases An important, if not the most important, consideration is to understand the type of business lease you sign. Whether it's a gross lease, a modified gross lease or a net lease, each one determines which party is responsible for specific expenses. A gross... Read More »

Reconsidering C Corporations

Tue, Jan 10th 2017
Once considered a last resort for entity choice, C corporations deserve reconsideration, especially surrounding the dreaded double taxation issue. Double taxation refers to the two levels of taxation that C corporation income goes through. First, the income is taxed at the entity level and then again when the shareholder withdraws any earnings as a dividend. Current tax law puts the top corporate tax rate at 35 percent and the dividend rate at 23.8 percent, making quite a dent. Let’s take a... Read More »