Could a cost segregation study save your company taxes?

If your business has acquired, constructed or substantially improved a building recently, consider a cost segregation study. One of these studies can enable you to identify building costs that are properly allocable to tangible personal property rather than real property. And this may allow you to accelerate depreciation deductions, reducing taxes and boosting cash flow.…

6 Simple Steps to Shrink Your Outstanding Receivables

Your sales team closes a custom order for a new customer. Then the production crew works diligently to meet the order’s two-week deadline. The final product meets the customer’s specs and ships on time. But what’s missing? Everyone was so preoccupied with completing the sale that no one bothered to check the customer’s credit or…

Are your employees classified correctly?

Employers gain several benefits by treating workers as independent contractors. Among other factors, you don’t need to withhold or pay income or payroll taxes, make federal unemployment contributions, pay overtime or provide employee benefits. But you must make sure workers are properly classified as independent contractors before taking advantage of these benefits. If the IRS…

Owner-Employees Face Distinctive Tax-Planning Challenges

Many business owners launch their companies from the front lines — as an employee. And it’s not uncommon for owners to stay in that role, working with their staff members to grow the business and guide its strategic direction. Come tax time, however, owner-employees face a variety of distinctive tax-planning challenges. Partnerships and LLCs If…