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Prepare for the worst with a business turnaround strategy
Many businesses have a life cycle that, as life cycles tend to do, concludes with a period of decline and failure. Often, the demise of a company is driven by internal factors — such as weak financial oversight, lack of management consensus or one-person rule. External factors typically contribute, as well. These may include disruptive…
Do you qualify for the QBI deduction? And can you do anything by year-end to help qualify?
2022 – 12/12 If you own a business, you may wonder if you’re eligible to take the qualified business income (QBI) deduction. Sometimes this is referred to as the pass-through deduction or the Section 199A deduction. The QBI deduction is: Taxpayers other than corporations may be entitled to a deduction of up to 20% of…
Vacation Buy Back
2020 – 11/23 How should employers treat “vacation buy back” for tax withholding purposes? Some companies are offering employees the option of “cashing in” accrued vacation time because many are working remotely due to COVID-19. For payroll purposes, employers should treat the payments as regular wages. Whether the vacation leave is taken or not, the…
Where’s My Refund
2022 – 04/28 Are you waiting for a federal tax refund? Be patient. Most taxpayers who e-file and choose direct deposit receive refunds they’re owed within 21 days. However, as a recent IRS Tax Tip explains, several things might delay it. These include errors, incomplete forms and identity theft. Also, if you require a correction…
Get Ready for Tax-Filing Season
2019 – 12/16 With the tax filing season almost here, taxpayers may want to check out a new IRS publication from the IRS. “Publication 5348, Get Ready to File” can help individuals prepare for the tax-filing season. It offers information and resources on electronic filing options, withholding, estimated tax payments, credits and deductions, data protection…
Competitive intelligence can give your marketing campaigns an edge
2021 – 11/10 It’s understandable and indeed critical to focus a marketing campaign on the strengths and distinctive benefits of the products or services in question. However, something that’s easy to overlook is how your business and its offerings differ from — and are preferable to — the competition. Making this distinction isn’t as simple…