Newsletter

Tried-and-True Strategies to Minimize Tax Burdens as a Food and Beverage Business Owner

Explore the FICA Tip Credit There are so many tax credits that are available to food and beverage businesses of all sizes, so it’s a good idea to start there. After all, tax credits don’t just reduce tax liability, they can actually result in money back after returns are filed. One popular credit to explore

Tried-and-True Strategies to Minimize Tax Burdens as a Food and Beverage Business Owner Read More »

What to Know About Valuations and Discounts in Estate and Gift Tax Planning

The Importance of Planning for Estate and Gift Taxes First, consider the importance of preparing for estate and gift taxes when drafting an estate plan in the first place. If not planned for correctly, estate and gift taxes can add up quickly. This, in turn, could result in the erosion of generations of wealth or

What to Know About Valuations and Discounts in Estate and Gift Tax Planning Read More »

What Business Owners Should Know About the R&D Payroll Tax Credit in 2024

What is the Research and Development Credit Specifically, the Research and Development tax credit is a federal credit that is available to businesses that have invested funds into innovation, research, development and experimentation. This credit is beneficial to businesses that qualify because not only does it offer a dollar-for-dollar reduction in tax liability, but it

What Business Owners Should Know About the R&D Payroll Tax Credit in 2024 Read More »

What Nonprofits Should Know About Functional Expense Reporting

What is Functional Expense Reporting Businesses typically categorize expenses based on the nature of those expenses. A “natural” expense reporting system might group expenses into categories like rent, utilities, payroll, marketing and depreciation. A functional expense reporting system categorizes expenses by their purpose or function rather than their nature. This system of categorization enables nonprofit

What Nonprofits Should Know About Functional Expense Reporting Read More »

How to Beef Up Your Incident Response Plan

Best practices for effective incident response planning To be well-prepared for any incident, it’s important to follow the steps below: Identify and prioritize critical data and assets: Knowing precisely what resources you have helps you allocate them efficiently during an incident, saving time and minimizing overall damage. Establish a dedicated team: A cohesive and well-trained

How to Beef Up Your Incident Response Plan Read More »

Changes in the Tax Laws – What to Know Before Filing Your 2024 Return

Due Dates for Tax Returns The deadline to file individual income tax returns or request an extension will be Monday, April 15, 2024 for most taxpayers. An extension will move the deadline six months to Tuesday, October 15. Some exceptions apply to the April 15 deadline, including the following: The deadline for all taxpayers in

Changes in the Tax Laws – What to Know Before Filing Your 2024 Return Read More »

Employee Stock Ownership Plans (ESOPs) and Their Benefits for Businesses and Employees

What Is an Employee Stock Ownership Plan? Specifically, an ESOP is an employee benefit plan that allows businesses to sell off ownership shares of the company directly to employees. Typically, these company shares are acquired through an employee retirement account; when the worker decides to retire or otherwise leave the company, the business buys the

Employee Stock Ownership Plans (ESOPs) and Their Benefits for Businesses and Employees Read More »

The Hidden Costs of Ineffective Data Management

Potential consequences of improper data management Failure to manage your data effectively can lead to the following consequences, including missed opportunities, inefficiencies, and even business-ending events. Poor decision-making: Imagine navigating the roads using a faulty map. You’re bound to end up in the wrong place. Without accurate data, you will be charting a flawed business

The Hidden Costs of Ineffective Data Management Read More »

Network Wellness Check – How Healthy is your Network?

Does your business suffer from… Sluggish network speeds causing frequent downtime, hindering employee productivity? Slow response times and unreliable online services that are frustrating customers and leading to dissatisfaction? Operational disruptions affecting critical business processes and creating inefficiencies? Technological deficiencies reducing competitiveness in the market? An underperforming network requiring additional IT support, increasing operational costs

Network Wellness Check – How Healthy is your Network? Read More »