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Should you take out a loan or should you rent and save that purchase decision for a future date? These are the basics of loans vs. leasing for small businesses. As an entrepreneur, you may be looking to invest in new machinery, technology, or other types of expensive equipment to take your business to the …
Continue reading Equipment Loans vs. Leasing—Which is Better for Your Business?
Having eyes and an ear on the competition is just as important as listening to your customers. Here are some tips on how to stay ahead of the curve and help attract more business your way.As a small business owner, you’re probably very aware of your competition, and if you’re not, you should be. As …
Continue reading 12 Smart Ways to Keep Ahead of Your Competition
In the last 20 years, the opportunity to run your business on a global level has become much easier. No longer is international business only for mega-corporations. Now, small businesses can get in on a piece of the worldwide economic puzzle quite easily. In one survey, 58 percent of small businesses indicated they have at …
Continue reading How Your Small Business Can Compete on an International Level
The IRS issued proposed regulations (REG-104397-18) providing guidance on Sec. 168(k), which was amended by P.L. 115-97, known as the Tax Cuts and Jobs Act (TCJA), to increase the allowable first-year depreciation deduction for qualified property from 50% to 100%. The TCJA extended and modified bonus depreciation, allowing businesses to immediately deduct 100% of the …
Continue reading IRS issues proposed regs. on 100% bonus depreciation
The IRS issued proposed regulations on Wednesday regarding the qualified trade or business income deduction under Sec. 199A, which was enacted by P.L. 115-97, the law known as the Tax Cuts and Jobs Act (TCJA) (REG-107892-18). At the same time, it issued Notice 2018-64, which provides guidance on how to compute W-2 wages for purposes …
Continue reading Qualified business income deduction regs. proposed
The IRS published final regulations that implement changes made by the American Jobs Creation Act of 2004, P.L. 108-357, and the Pension Protection Act of 2006, P.L. 109-280, to the substantiation and reporting rules for charitable contributions under Sec. 170 (T.D. 9836). The final regulations set forth the substantiation requirements for contributions of more than …
Continue reading Final rules govern adequate substantiation for charitable contributions
Vendor selection isn´t always the sexiest aspect of owning a small business, but the resulting relationships can have lasting effects on the success of your company. These tips will help you know when to say "yes!" and when to walk aw Small business owners tend to be visionaries with very specific ideas on how they …
These strategies take time, effort, and sometimes money to establish, but once built into the foundation of your small business, financial stability will be within reach. Small business owners and home service professionals often face a significant challenge in keeping their enterprises sustainable: financial stability. Without stability in your revenue and expenses, it becomes much …
Continue reading How Can You Make Your Small Business More Financially Stable?
To give grantors and contributors to tax-exempt organizations more easily accessible guidance on deductibility and reliance issues, the IRS has combined into one revenue procedure previous scattered pieces of guidance dating back to 1981 (Rev. Proc. 2018-32). The new revenue procedure tells grantors and contributors when they can rely on a listing of an organization …
The IRS announced that it plans to issue regulations in response to state legislation intended to help taxpayers avoid the $10,000 limitation on the deduction for state and local taxes under Sec. 164 as amended by P.L. 115-97, known as the Tax Cuts and Jobs Act (Notice 2018-54). That limitation applies to individual taxpayers for …
Continue reading IRS to clarify rules on payments in lieu of state and local taxes
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