Information on business financial.

reasonable salary for a corporate business owner
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Corporate business owner salary: what's reasonable?

What is a reasonable business owner salary? If you’re the owner of an incorporated business, you probably know that there’s a tax advantage to taking money out of a C corporation as compensation rather than as dividends. The reason is simple.…
Marketing

Marketing is a game of adjustments and risks

How important is marketing to your business? In business, a failure to evolve may lead to failure. One way to keep your company rolling is to regularly adjust how you market products or services to customers and prospects. A marketing strategy…
Work Opportunity Tax Credit extended through 2020
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Work Opportunity Tax Credit extended through 2020

If you’re a business owner, be aware that a recent tax law extended a credit for hiring individuals from one or more targeted groups. Employers can qualify for a valuable tax credit known as the Work Opportunity Tax Credit (WOTC). The Work…
manage risk

Manage risk with your buy-sell agreement

If your company has more than one owner, you can manage risk with your buy-sell agreement. Most companies wouldn’t go into business without some basic types of insurance in place, such as property coverage and a liability policy.  You can…
employees 401k contributions

Schedule your 401(k) plan checkup annually

How often do you schedule a 401(k) plan checkup? In many industries, offering a 401(k) plan is a competitive necessity. If you don’t offer one and a competitor does, it could mean the difference in a job candidate’s decision to accept their…
home office deductions
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Do you qualify for home office deductions?

If you’re self-employed and work out of an office in your home, you may be entitled to home office deductions. However, you must satisfy strict rules. If you qualify, you can deduct the “direct expenses” of the home office. This includes…
Federal income tax relief
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How business owners could reduce tax

Wondering how you can reduce tax? Do you conduct your business as a sole proprietorship or as a wholly owned limited liability company (LLC)? If so, you’re subject to both income tax and self-employment tax. There may be a way to cut your…
How to make the most of your multigenerational workforce

Make the most of a multigenerational workforce

Do you have a multigenerational workforce? Many of today’s businesses employ workers from across the generational spectrum. Employees may range from Baby Boomers to members of Generation X to Millennials to the newest group, Generation Z. Managing…
Numerous tax limits affecting businesses have increased for 2020
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Numerous tax limits affecting businesses for 2020

An array of tax-related limits that affect businesses are annually indexed for inflation, and many have increased for 2020. Here are some that may be important to you and your business. Social Security tax The amount of employees’ earnings…