Here are a few key tax-related deadlines for businesses during Q1 of 2018. JAN. 31: File 2017 Forms W-2 with the Social Security Administration and provide copies to employees, and provide copies of 2017 Forms 1099-MISC to recipients. FEB. 28: File 2017 Forms 1099-MISC if paper filing. (Forms 1099-MISC reporting nonemployee compensation in Box 7…
Artificial intelligence (AI) can help just about any business “get smart.” AI generally refers to technology capable of performing tasks that previously required human intelligence, such as image perception, voice recognition and problem solving. Integrating it into a CRM system helps you better understand buyers and generate sales leads. Using AI to assist customer service…
If your company is over budget at year end, it’s a bit of a disappointment, to say the least. But don’t lose hope. You can still cut costs to either improve this year’s numbers or perhaps next year’s. Reassess your staffing levels to see if you can reorganize and eliminate underperforming positions. Also, review your…
Some unique year-end tax planning strategies are available to accrual-basis taxpayers.
Sec. 179 expensing allows businesses an immediate deduction for the cost of eligible asset purchases (up to certain limits), rather than depreciating them over a number of years. Another depreciation break for assets that qualify is 50% first-year bonus depreciation. To enjoy these breaks on your 2017 tax return, you generally must acquire and place…
No business owner wants to send out spam, but you can still make your marketing emails a blast. Start with a catchy subject line that clearly conveys your message. Next, write a headline that differs from the subject line but drives readers’ interest. Keep the body short and simple; tell customers why they should buy.…
Hundreds of years ago people built walls and towers around their communities to guard against threats. So too can businesses protect themselves with a companywide enterprise risk management program. Begin by obtaining total buy-in from your managers and key employees. Next, identify as many risks as possible specific to your business and its industry. Clarify…
A qualified small business (QSB) eligible for the research tax credit can elect to use up to $250,000 of the credit to reduce its payroll tax bill instead of its income tax bill. Generally, a QSB has gross receipts of less than $5 million for the current tax year and hasn’t existed for more than…
On Oct. 12, an executive order was signed that, among other things, directs the Secretaries of the Treasury, Labor, and Health and Human Services to consider proposing regs or revising guidance to expand the ability of employers to offer Health Reimbursement Arrangements (HRAs). But HRAs are just one type of tax-advantaged account you can provide…
