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For Business
SBA Disaster Loans- Are they right for your business?:
We'll show you how they work
Due to the Coronavirus problems, we’ve received a bunch of questions from business owners about SBA Loans. The slide show below will walk you thru: Who can qualify, What are the requirements, What are the terms, and how we can help you apply . Share with.emailFacebookTwitter
The truth about price-cutting- it’s not what you think:
Watch as we crunch the numbers - you'll be shocked
Sales are down, so we need to cut prices right? Not necessarily! The truth illustrated in the video below shows that price-cutting is almost never the way to grow profits. The video shows that, at a 35% profit margin, a 10% price cut means you must increase sales by 40% just to stay even. Hard…
Out with the old – in with the new 2020 mileage rates:
Deduction rates change for 2020!
It’s easy to forget about the business use of your personal car. Here’s how to calculate this deduction for all your business miles.
Christmas gifts and their tax benefits:
how to let Uncle Sam help with your giving
Holiday parties and gifts can help show your appreciation and provide tax breaks With Thanksgiving behind us, the holiday season is in full swing. At this time of year, your business may want to show its gratitude to employees and customers by giving them gifts or hosting holiday parties. It’s a good idea to understand…
Hitting the target with the Business Income Deduction:
also known as QBI (Qualified Business Income)
The new deduction of 20% of qualified business income (QBI) has been a source of confusion for clients (and accountants as well). But given that this is a deduction that you can obtain without spending additional money from your business, it’s well worth some effort to understand. You can find what defines a SSTB (see…
Sell your C-Corp business and pay no tax?:
It's possible under Section 1202
Section 1202 allows you to sell qualified small business stock (QSBS) on a tax-free basis! Now, add to this no-tax-on-sale benefit to the 21 percent corporate tax rate from the Tax Cuts and Jobs Act, and you have a significant tax planning opportunity. Let’s just suppose the following: You sell your C corporation stock. The…
Barter – Yes, it’s taxable:
But, the after-tax profit may be greater than you realize
Bartering: A taxable transaction even if your business exchanges no cash It’s good to read the above sentence a couple of times before proceeding to the rest of this post. A small local business may find it beneficial to barter for goods and services instead of paying cash for them. If your business engages in…
Wayfair-you’ve got just what I don’t need:
Why you're paying sales tax on internet purchases
I doubt there’s a more common question that I get from business owners that sell a product than -“How does the Supreme Court Wayfair decision affect me collecting sales tax from the products that I sell outside of Georgia?” Books have been written on this, but the short version is that until the recent Supreme…
Know your enemy’s plan- Read his audit guide:
What if you could read the IRS' audit guide
In chess (as in business), it’s good to be able to think three moves ahead. This is especially true when dealing with IRS auditors. Wouldn’t it be nice if you could read the plan on how they’ll review your books weeks before they came for their appointment? Well wish no more – this information…