Topics to help your business grow and prosper.
An additional $484 billion in COVID-19 assistance is now available, including $310 billion in new money for the Small Business Administration's Paycheck Protection Program. But you must act before it is gone.
If you have not applied for a small business Payroll Protection Program loan through your bank, you should still strongly consider doing so now.
Turning your hobby into a business can get you a big tax benefit if you do it right - or a big tax headache if you do it wrong.
The IRS has broad powers to seize bank accounts if it believes there is criminal activity and you are actively trying to avoid their financial transaction reporting requirements. Here is what you should know.
Planning to start a business partnership with a friend? Prudence demands looking at the pitfalls - as well as the potential strengths - of such relationships. Here are a few questions to consider.
Are your organizational meetings dull, uninspiring, and inefficient? Would you like them to be vibrant, engaging, productive, and future-focused? If so, here are some suggestions to supercharge your business meetings.
The primary purposes of business websites are to attract customers and motivate them to take action. The action might be initiating contact, ordering something, bookmarking the site for future reference, or referring others to the business. Here are some ideas to improve your business website.
If you are considering buying an existing business, take time to investigate the business thoroughly. Here are some thoughts.
Most successful business managers use financial statements and other special reports to generate higher profits. If you haven't been using all the financial tools available to you, here are some ideas to get you started.
Growing businesses often create a need for cash. So does starting a new business or financing the purchase of an existing business. Here are some things to consider.
The tax law provides a valuable tax-saving opportunity to business owners and real estate investors who want to sell property and acquire similar property at about the same time.
Wondering if you can deduct any of your cell phone expense on your tax bill? Perhaps you can...
Over the past few years, the IRS has started penalizing late filers of Sub S Corporation tax returns. This despite the fact that late filing of the Sub S tax return does not typically impact the timely payment of the tax.
With a little discipline you can ensure that the qualified miles you drive for business, charity, moving and medical reasons can be deducted on your tax return.
When you apply for a business loan, your request must meet certain basic requirements. With a little preparation your initial bank visit can be productive. Here is what you need to know.
When you start a business, you have many decisions to make. One of those is the method of accounting your business will use for reporting income and expenses on your tax return. It is an extremely important decision. With few exceptions, the method you choose can only be changed in the future with the...
Your home. Your office. Are they one and the same? If so, you may be able to take a home-office deduction that can save income and self-employment taxes.
If you're like some taxpayers, you have a pastime that brings in cash but produces a loss after you deduct your expenses. The tax code creates disadvantages for hobbies over businesses. Here is what you need to know.
If you are a small business owner filing your taxes as a sole proprietor, or you own a C-corporation, understanding flow through entity is important. Given the popularity of this business format, it will drive tax policy in the future. Here is what you need to know.
Too many taxpayers using a home office or having rental property are surprised by their tax bill when they sell their property. A little understood area of the tax code called depreciation recapture is often the culprit.
What records should your business keep, and how long should you keep them? There are several categories of records that are important to a business, some for internal purposes and some for tax returns and other government requirements. Here is what you need to know.
Hiring and training new employees is one of the toughest jobs you face as a manager or business owner. Here are some tips for each stage of the process.
Consider the following ideas for saving time and money and making your business more profitable.
How many family businesses can you name that have been around for many generations? Have you ever wondered what they have in common? Most businesses that continue to prosper pass from generation to generation with a success plan.
Do you know what your business is worth? If you're like many business owners, the answer to this question is probably "no." Here are some suggestions.
Tax and business planning is important for the success of any organization, but especially for the family-owned enterprise. Here are some important questions that owners of family businesses need to address.
A written business plan is as essential for a small business as it is for large corporations. A good business plan will help you focus on current and potential problems and assist you, your advisers, and employees.
Internal accounting controls are vital to every business. What are yours?
To preserve the legal benefits of incorporation, corporations must hold regular directors' meetings and keep their corporate minutes up to date.
Every business is vulnerable to natural disasters such as fires, floods, tornadoes, hurricanes, and earthquakes. Are you prepared?
If you're a sole proprietor, you have probably wondered at some point whether you'd be better off if you incorporated your business. Here are some facts for you to consider.
A motivated staff is a productive staff, and without incentives, your best people could leave for more satisfying endeavors. Here are some thoughts.
We see, hear, and read every day that the world is becoming more environmentally conscious and taking steps to "go green." Here are some ideas for your business to consider.
Employees will eventually retire and as a small business owner, you can help by establishing a tax friendly retirement plan for them. Here are some things to consider.
Of the thousands of new businesses created every day in the United States, many are franchise outlets. Read this before you think of investing.
What numbers monitor the vital signs of your business? With the right viewpoint your financials can light the way for targeting areas for business improvement.
Too often businesses emphasize increasing sales as the only way to boost profits. Cost-cutting, when done selectively and intelligently, can be a faster way to higher profits. Here are some ideas.
According to the Associated General Contractors of America, theft losses among its members have reached almost a billion dollars annually. Try the following to stem losses on your sites.
Keep track of your bottom line. Controlling overhead costs is critical for all construction managers. Increased competition and slim profit margins have forced contractors to take a hard look at overhead cost management.
If you start your own business, improve your chances for success by avoiding these common pitfalls.
In some industries, service has become a quaint memory, and customers are reduced to selecting the provider that costs or annoys them the least. But the golden rule has not been repealed, and pleasing your customers can create a powerful competitive advantage.
It's difficult for smaller companies to compete with the management capacity of large chain stores or franchise operations. Here are some ideas to consider.
Succession planning can be one of the most difficult issues faced by a family-owned business. Do you have one for your business? Here are some ideas.
The most essential report for business survival is the cash flow statement. Here are some thoughts and ideas on how to make this your go to business report.
In addition to the traditional financial statements, you will want industry specific reports to allow you to compare your company's performance to that of others. Business ratios often hold the key for comparison.
Each year, employees steal about $40 billion from American businesses. Unfortunately, nonprofit organizations are among these businesses. To avoid internal theft, put these basic control and accounting procedures into effect.
Many business owners have considered 401(k) plans to be retirement plans for large companies. Now a solo 401(k) is an option for business owners. Is it right for you?
If you use your car for business, you must follow the rules to take the deduction. Here is what you need to know.
Employees' ability to deduct unreimbursed expenses related to their job is going away under the new tax reform laws. Employers can consider reimbursing employees directly and deducting the cost from their business returns.
With the COVID-19 pandemic dominating the news and creating havoc in many sectors of the economy, companies are going to need to be on their "A" game to survive and thrive. Here are five essential tasks to help you do this.
To keep your business solvent through the COVID-19 pandemic, stay focused on the 3 rules of cash.
If you use your car for your business, you will need to document the expense to deduct it on your business tax return. Here are your options.
If you own your own business or have a side business in addition to your regular job, you may need to send out several IRS forms by Jan. 31 this year.
A U.S. Supreme Court ruling involving the state of South Dakota vs Wayfair (an online furniture retailer) opens the door for states to impose sales taxes on online retailers located outside their borders. This will have wide-reaching effects on small businesses and consumers. Here's what you need to know.
A vast number of workers taking part in the new Shared Economy are making numerous tax mistakes. So whether you or someone you know is driving for Uber or renting out their home for income, there is now help to navigate this confusing landscape.
In 2016, tax return filing deadlines are changing for some. If you have foreign bank accounts, expect to receive a Form K-1 from a partnership or LLC, or participate within a C-corporation you will need to know this information
Employee theft happens frequently enough for it to be a concern of every business.Here are some suggestions to reduce your risk.
Questions about your financial situation? Contact us!
Don H Wayne EA Tax Services & Business Consulting,
1255 TREAT BOULEVARD, STE 300
WALNUT CREEK, CA 94595-7965
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