Defer a Current Tax Bill With a Like-Kind Exchange By: David M. Reape If you’re interested in selling commercial or investment real estate that has appreciated significantly, one way to defer a tax bill on the gain is with a Section 1031 “like-kind” […]
When Are Sponsorship and Advertising Payments Subject to Tax? By: Helen Weeber Sponsorship and advertising dollars can significantly increase the income of your nonprofit. However, if sponsors or advertisers are provided a “substantial benefit”, or if providing perks is not a related business activity, you […]
The Standard Business Mileage Rate Will Be Going Up Slightly in 2024 By: David M. Reape In 2024, the optional standard mileage rate used to determine the deductible cost of operating a business automobile will increase by 1.5 cents per mile. According to the IRS, the […]
Employing the Personal Touch for Last-Minute Fundraising By: Helen Weeber As 2024 quickly approaches, your nonprofit is most likely immersed in last-minute fundraising. After all, studies have shown approximately 25 % of all giving occurs in December and taxpayers who […]
Reining in Waste Can Positively Affect Manufacturers’ Profitability By: Daniel Kaminski The most profitable manufacturers make as many products with as few resources as possible. So strategic cost savings is important. One way for manufacturers to save is to rein in […]
Fraud Prevention Strategies for Entrepreneurs and Small Businesses By: Anthony LaNasa Fraud occurs in organizations of all sizes. However, small businesses, particularly new ones, face unique risks because they often can’t afford to invest in pricey fraud-prevention tools. Fortunately, there are simple yet […]
2024 Q1 Tax Calendar: Key Deadlines for Businesses and Other Employers By: David M. Reape Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2024. Keep in mind that this list isn’t all-inclusive, so there may […]
Standard Mileage Rates for 2024 The Internal Revenue Service has issued the 2024 optional standard mileage rates. These rates are used to determine the deductible expenses associated with driving a car for work, charity, relocation, […]
Consider These 2 Issues Before Searching for New Staffers By: Helen Weeber Despite many predictions to the contrary, U.S. employers have continued to add workers to their payrolls and the unemployment rate has remained low — at 3.7% as of November 2023, […]
Giving Gifts and Throwing Parties Can Help Show Gratitude and Provide Tax Breaks By: David M. Reape The holiday season is here. During this festive season, your business may want to show its gratitude to employees and customers by giving them gifts or hosting holiday parties. It’s […]
Ohio Medicaid Private room reimbursement application opens January 2nd! By: Helen Weeber START PREPARING NOW so you do not miss out on additional reimbursement. Background The Ohio biennium budget bill, House Bill (HB) 33 included a provision for a private room reimbursement […]
Manufacturing Company Owners’ Compensation: What’s Considered Reasonable? By: Daniel Kaminski It’s not uncommon at year end for manufacturing company owners to review the year’s performance and consider whether they’ve been fairly compensated for their efforts. Indeed, if the business has […]