Record Retention…When to Keep, When to Shred

Do you know how long you are supposed to keep documents?  Do you know when it’s safe to shred?  Having this knowledge is the first step to good recordkeeping. By following these guidelines, you can keep your documents and files organized and updated. Avoid keeping things you

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Is Your Workplace Female-Friendly?

Attracting and retaining talent in your small business can be a giant step toward growing into a mid-sized business. Beyond attracting new employees with salary and benefits, here are several perks, policies, and benefits to consider when recruiting women, and employees in general, to your workforce. 1.

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Income Shifting: SAVE Thousands in Taxes

Want to save money in taxes WITHOUT working harder? One way is to shift income from a higher bracket taxpayer to a lower one or even a zero rate-bracket. Typically, splitting the income between family members by hiring them to work in the business will save thousands

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Five Tips to Make Tax Time Painless

Tax time is probably not your favorite time of year, especially if you have to pay the government your hard-earned dollars. Here are five tips on how we can make it just a bit less painful. 1. Have patience. Practicing patience will go a long way when

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Entertainment Deductions: Half the Fun?

Here are some basic rules you need to know to ensure that all your entertainment expenses are deductible: Do you have an ordinary and necessary business reason for the entertainment? Did you have a quiet business discussion before, during or after the event? No discussion, no deduction!

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1099s—The Ins and Outs

Processing 1099s can be confusing and frustrating. Here are some facts you need to know! General Rule: If you pay someone more than $600 in a calendar year for services, not material/product, then you are required to provide a 1099 showing the amount you paid. One tip

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The Tax Benefits of Health Savings Accounts

If you have a high-deductible health insurance plan, you probably know how important it is to have a Health Savings Account (HSA) to save for those medical expenses that come out of your pocket. HSAs offer great tax savings if you qualify.  What’s so good about them? 

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