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Digital disruption is described as the changes that occur when new technologies and businesses models have a negative effect on existing goods and services. Despite some activity, many companies are lagging when it comes to transforming to take on the challenge. Technologies...

Typically, it’s better to defer tax. One way is through controlling when your business recognizes income and incurs deductible expenses. Here are two timing strategies that can help businesses do this: Defer income to next year. If your business uses the cash method of...

They say timing is everything. And, when it comes to year-end tax planning, this expression certainly holds true for income and expenses. Know the basics When you don’t expect to be subject to the alternative minimum tax this year or next, deferring income to next year and...

With the ever-increasing cost of health insurance and medical care, you should be vigilant in finding ways to claim tax breaks related to health care. Unfortunately, that’s now harder than before because a change included in the Affordable Care Act (ACA) increased the...

The U.S. House of Representatives passed and sent to the Senate a bill that would delay the start of new federal overtime pay rules from December 1, 2016 to June 1, 2017. However, President Obama has indicated he will veto the bill if it hits his desk. The House bill was...

Telling someone, “You need to have your head examined” probably isn’t a good idea. Even if you believe it, you should never use those words when talking to an employee. But there may be times when the statement is accurate, such as when a worker’s behavior...

There’s a lot to think about when you change jobs, and it’s easy for a 401(k) or other employer-sponsored retirement plan to get lost in the shuffle. But to keep building tax-deferred savings, it’s important to make an informed decision about your old plan. First and foremost,...

October 17 — Personal returns that received an automatic six-month extension must be filed today and any tax, interest, and penalties due must be paid. Electing large partnerships that received an additional six-month extension must file their Forms 1065-B today. If the monthly...

Appraisals can inspire anxiety for many business owners. And it’s understandable why. You’re obviously not short on things to do, and valuations cost time and money. Nonetheless, there are some legitimate reasons to obtain an appraisal regularly or, at the very least, to...

Whether you’re thinking about starting your own business or investing in a start-up, there’s an exciting tax break that could sweeten the deal: Gains from selling qualified small business stock (QSBS) that you acquire on or after September 28, 2010, are potentially...