When you create a brand name, the relative strength of the words you choose directly affects how well you’ll be able to protect the goodwill your brand builds. When The Home Depot was getting off the ground in 1979, for example, its founders searched for just the right name. They rejected choices like MB’s Warehouse, […]
For most small businesses, having a website is a necessity. But what’s the proper tax treatment of the costs to develop a website? Unfortunately, the IRS hasn’t yet released any official guidance on these costs. Therefore, you must extend the existing guidance on other subjects to the issue of website development costs. Depreciable Fixed Assets The […]
The powerful draw of social media, messaging, Internet browsing and related activities on smartphones are hard for many people to resist. As with forms of chemical dependency (alcoholism, for example), the boundary between excessive digital activity and digital activity that’s clinically disabling is complex. It revolves around the extent to which the activity impairs a person’s […]
Employers often try to screen out applicants by using pre-employment tests to evaluate skills, aptitude, personality and honesty as well as medical and drug tests. Although certain testing is allowed, you should impose numerous restrictions on what is permissible. Here’s a look at what you can and cannot do. Testing People with Disabilities Employers must avoid discriminating against applicants who […]
The IRS has provided filing relief to U.S. partnerships caught betwixt and between proposed and final guidance that required very different approaches to the reporting of a key income item. The relief should prevent many partnerships from having to make a difficult choice between the headache and expense of re-issuing K-1s or the threat of […]
For even the largest and most sophisticated organizations, internal fraud inquiries can pose numerous challenges that can send a case off track, cause legal expenses to skyrocket, and put your enterprise on the losing side. Ranging from lax investigations to not knowing enough about local law, here are examples of six mistakes that turned victory into defeat: 1. Avoid […]
If you pay over half the cost of supporting a parent, he or she is considered your dependent for federal income tax purposes — which may qualify you to some significant tax breaks. Here are the details. New Credit for a Dependent Parent For 2018 through 2025, your dependent parent may qualify you for a new […]
A new final rule from the U.S. Department of Labor (DOL) clarifies some of the ins and outs of multiple employer plans (MEPs). These are defined contribution retirement plans — such as 401(k) plans — that are sponsored by an association or employer group on behalf of member employers. Clarifying the Rules Existing DOL rules already allow […]
When trying to collect money from people who owe your company, you’ve undoubtedly heard these declarations: “The check is in the mail.” “Give me a call next month.” “There must be some mistake.” What’s the real objective of these delinquent customers? In a word, it’s often “delay.” The debtors are trying to buy time — perhaps hoping that […]
It’s not enough to put together an estate plan for your immediate family. You should also consider any inheritances you might receive from other family members. For example, you might stand to inherit a huge sum from your parents or in-laws. This can complicate matters if you’re trying to reduce the size of your own taxable estate. However, […]
Do you have a problem with employees arriving late to work? If so, you’re not alone. Overall, American workers do an adequate job of showing up for work on time. But for some perspective, employees in the United Kingdom and Australia put the United States to shame. A recent survey by Deputy (a workforce management software […]
Favourable individual federal income tax rates established by the Tax Cuts and Jobs Act (TCJA) are scheduled to expire at the end of 2025. But some analysts think that they could be repealed sooner, depending on the results of next year’s presidential election and the preference for budget-neutral government spending. So, taxpayers may want to consider […]