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Business Charitable Deductions Require a Little Tax Wisdom

Mon, Oct 24th 2016
Aristotle famously lamented that giving away money is easy, but giving it away wisely is another matter. For business owners, smart giving begins with an understanding of a few tax rules. Your business form. The tax implications of giving to charity from your business depend on your form of entity. A regular C corporation can donate to charity and reduce taxable income accordingly. Sole proprietorships, partnerships, and S corporations cannot reduce taxable income by donating to charity.... Read More »

FDIC AND SIPC: Important Allies in Uncertain Times

Mon, Oct 17th 2016
Worried about the next financial crisis? Reacquaint yourself with two important allies: The Federal Deposit Insurance Corporation (FDIC) and the Securities Investor Protection Corporation (SIPC). The FDIC. The FDIC is an independent agency of the U.S. government and provides up to $250,000 in protection for qualified bank accounts in case of a bank failure. The insurance applies to each unique account owner, regardless of the number of accounts held at the failed bank. Knowing how ownership is... Read More »

"CROWDFUNDING" Raises Tax Issues

Mon, Oct 10th 2016
Raising funds in small amounts from a large pool of people, also known as crowdfunding, has become a popular way for budding entrepreneurs to drum up the working capital for pet projects. It seems like everyone from twenty-somethings to stay-at-home parents to retirees are getting in on the act. Here's how the process works. Let's say you have an idea for a new product that you're unable to obtain funding for through conventional means, such as a bank loan. You turn to the internet, find a... Read More »

Recruiting, Training, and Retaining Veterans

Mon, Oct 3rd 2016
Construction company owners know that military veterans typically bring skills and a work ethic that align well with what’s required of today’s construction worker. Veterans have hands-on work experience in fast-paced and highly stressful situations, understand the importance of teamwork, know how to achieve success under pressure, and can demonstrate leadership. Hiring veterans can be a win-win situation for all parties — owners benefit from the unique skill set of veterans and veterans... Read More »

How Identity Theft Can Affect Your Taxes

Mon, Oct 3rd 2016
Tax-related identity theft normally occurs when someone uses your stolen Social Security number to file a tax return claiming a fraudulent refund. Many people first find out about it when they do their taxes. The IRS is working hard to stop identity theft with a strategy of prevention, detection and victim assistance. Here are nine key points: Taxes. Security. Together. The IRS, the states and the tax industry need your help. We can’t fight identity theft alone. The Taxes. Security. Together.... Read More »