Can I Afford to Buy a Delivery Van for My Business?

This question came in to our office from a small food-manufacturing business. This was why this client was seeking the extra value of working with a CPA. Here are the questions we asked to help them find the answer: What are you using now?…

It’s Not Just for Techies: R & D Credit Permanently Extended by PATH Act

Since 1981, the Research and Development Tax Credit, known as the R & D Credit, has been repeatedly extended for a year or so at a time, only to lapse and be extended again. The signing of the Protecting Americans from Tax Hikes (PATH) Act…

Have You Maxed Out Your 401(k)? Here’s Why You Should

Put as much as you can in your 401(k) now, and you benefit in at least two ways. First, you save tax now. For 2016 and 2017, you can contribute $18,000 plus an extra $6,000 if you’re over 50. This translates to a potential tax savings of $9,504…

Debt or Equity – Which is the Better Financing Option for Your Business?

Almost every business reaches a point when extra cash is needed to get to the next level. A manufacturer needs $15,000 to purchase the raw materials for a big order that will bring in $30,000. Or a start-up needs funds to get off the ground.…

Cut Recurring Costs to Improve Cash Flow

Healthy cash flow is crucial to the survival of any business. Without enough cash on hand to pay your bills when due, your business may fail. According to statistics from the Small Business Association, half of all new businesses fail within…

Donate Stock to Charity and Save Big on Tax

Are you thinking of making a large year-end gift to a favorite charity? Do you own stocks that have increased in value? If you answer yes to both of these, then consider donating the stock instead of writing a check. Donating stock versus giving…
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6 Tips for Successful Like-Kind Exchanges

Are you considering a like-kind or 1031 exchange? With a like-kind exchange, you sell something you own now and replace it with similar property. If you structure the transactions correctly, you can defer any capital gains as long as you keep…

Bunch Your Deductions and Get a Bigger Bang for Your Buck

Certain expenses can only be deducted as itemized deductions on your personal tax return if they exceed a threshold percentage of your AGI. For medical expenses, this is 10% if you’re under 65, 7.5% if you’re over 65. If you’ve got some…