2017 Q1 tax calendar: Key deadlines for businesses and other employers

  Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2017. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. […]

4 principles of competitive intelligence

  We live and work in the information age. As such, the opportunity to gather knowledge about your company’s competitors and industry as a whole has never been better. This practice — commonly known as “competitive intelligence” — can help you stay more nimble in the marketplace and avoid getting left behind as innovation surges […]

How entity type affects tax planning for owner-employees

Come tax time, owner-employees face a variety of distinctive tax planning challenges, depending on whether their business is structured as a partnership, limited liability company (LLC) or corporation. Whether you’re thinking about your 2016 filing or planning for 2017, it’s important to be aware of the challenges that apply to your particular situation. Partnerships and […]

Take stock of your inventory accounting method’s impact on your tax bill

If your business involves the production, purchase or sale of merchandise, your inventory accounting method can significantly affect your tax liability. In some cases, using the last-in, first-out inventory accounting method, rather than first-in, first-out, can reduce taxable income, giving cash flow a boost. Tax savings, however, aren’t the only factor to consider. Which Method? […]

Few changes to retirement plan contribution limits for 2017

Retirement plan contribution limits are indexed for inflation, but with inflation remaining low, most of the limits remain unchanged for 2017. The only limit that has increased from the 2016 level is for contributions to defined contribution plans, which has gone up by $1,000. Nevertheless, if you’re not already maxing out your contributions, you still […]

Get smart when tackling estate planning for intellectual property

  If you own intellectual property (IP), such as a patent or copyright, you need to know how to account for it in your estate plan. These intangible assets can be highly valuable, and you’ll want them to be handled according to your wishes after you die. 2 important questions IP generally falls into one […]

Considering a spinoff? Think it through

In popular culture, the word “spinoff” usually refers to a television show whose main characters originated from an already established show. But the word applies to the business world, too. Here it describes a division or subsidiary of a company being sold off to a buyer as a separate entity. The process is hardly simple. […]

Build consensus before you buy business software

  Business owners get to make executive decisions. It’s one of the perks of the job. But acting unilaterally when buying business software can be a risky move. Because new technology affects the entire team, the entire team (or at least key members) should have input on the choice. And while it may be impossible […]

Companies restate financial results for a variety of reasons

When a company reissues or revises its financial statements, some people automatically assume that management is cooking the books. But there can be legitimate reasons for restatements, beyond management incompetence and fraud. So, before leaping to conclusions, it’s important to understand what went wrong — and find ways to prevent future restatements. Complex standards Often, […]