6 Tax Tips For Charitable Giving
Richard Lipton, founder of Lipton CPA & Associates, says if you make charitable donations and want to claim a tax deduction for your gifts, you must itemize your deductions. He offers the following tips for giving business gifts to charity.
A SIMPLE Retirement Plan For The Self-Employed
Of all the retirement plans available to small business owners, the SIMPLE IRA plan (Savings Incentive Match PLan for Employees) is the easiest to set up and the least expensive to manage. These plans are intended to encourage small business employers to offer retirement coverage to their employees. SIMPLE IRA plans work well for small business owners who don’t want to spend a lot of time and pay high administration fees associated with more complex retirement plans.
Year-End Tax Planning For Businesses
While the fate of several business-related tax extenders such as R&D credits, bonus depreciation and Section 179 expensing that expired at the end of 2013 is uncertain, there are still a number of end of year tax strategies businesses can use to reduce their tax burden for 2014.
How To Get Paid On Time
Due to current economic conditions, it’s likely that collecting on your accounts receivables is becoming more and more of a challenge. Strengthening your collection procedures may allow you to improve collection rates and shorten the aging days of your accounts receivables. The following suggestions will help your business improve its cash flow and tighten up its credit and collections policies.
2012 Tax Changes For Businesses
It’s that time of year again: tax time. Whether you file as a corporation or sole proprietor, here’s what business owners need to know about tax changes for the 2012 tax year.
Tax Court Ruling Benefits Small Business Owners
Owners of closely held businesses, including family owned and other small businesses, can now pass assets to heirs with minimal taxation thanks to a recent tax court ruling (Wandry v. Commissioner, U.S. Tax Court, March 26, 2012).
Spring Cleaning: Tax Records You Can (And Cannot) Throw Away
Spring is a great time to clean out that growing mountain of financial papers and tax documents that clutters your home and office. Here’s what you need to keep and what you can throw out without fearing the wrath of the IRS.
How To Get Paid On Time
With the current economic conditions, the collection of accounts receivables is becoming more and more of a challenge. Strengthening your collection procedures may allow you to improve collection rates and shorten the aging days of your accounts receivables.
The Three Most Common Budgeting Errors
When it comes to creating a budget, it’s essential to estimate your spending as realistically as possible. Here are three budget-related errors commonly made by small businesses, and some tips for avoiding them.
Protect Your Business with the Right Insurance
Starting a business is expensive and the capital that you’ve poured into your company can disappear in an instant if a major weather event damages your offices or one of your products injures someone.
Year-End Tax Planning for Businesses
Businesses can take several measures at the end of the year to reduce their tax burdens in 2010. Here’s a rundown of best options.