Cash is king when it comes to the financial management of a growing company. The lag between the time you have to pay your suppliers and employees and the time you collect from your customers is the problem, and the solution is cash flow management. At its simplest, cash flow management means delaying outlays of […]
Seven Succession Planning Considerations
In order to maximize a practice sale, consider the following seven steps:
Step 1: Start planning for retirement at least seven to 10 years prior to retirement.
This sounds like a long time, but it is not when you consider it may take three to five years to find the right associate and another […]
What pension plan options are available for an S corporation?
Planning for retirement usually challenges people. And that planning gets even trickier for an S corporation business owner who needs to balance his or her retirement planning considerations with those of employees and with the peculiarities of Subchapter S of the Internal Revenue Code.
Accordingly, I want […]
Veterinary clinic owners may be able to deduct tuition costs for employee education. Several preliminary stipulations apply, such as:
Providing the IRS with a separate written document that does not address any other type of employee benefits.
Documenting all program requirements.
Providing proof that the plan applies to all technicians.
Limiting amounts excludable from each employee’s income to […]
If you own a small business, every dollar matters – especially when it comes to taxes. Whether your business is a partnership or corporation, Uncle Sam offers some sizeable deductions to lower your liability, allowing you to put those dollars toward capital and employees.
Easy-to-use tax preparation solutions have become an increasingly popular way for small […]
At tax time, small businesses look for ways to save money and maximize credits and deductions. Here are some of the lesser known opportunities:
Carry forward the health credit
The healthcare tax credit is offered on a sliding scale. Businesses that employ fewer than 10 full-time-equivalent employees with average wages under $25,000 per person get the most […]