Have staffers complained because their expense reimbursements are taxed? An accountable plan can address the issue. Here’s how accountable plans work and how they benefit employers and employees. Be reasonable Under an accountable plan, reimbursement payments to employees will be… Read More
Blog
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Is it time to hire a CFO or controller?
Many business owners reach a point where managing the financial side of the enterprise becomes overwhelming. Usually, this is a good thing — the company has grown to a point where simple bookkeeping and basic financial reporting just don’t cut… Read More
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The tax implications of being a winner
If you’re lucky enough to be a winner at gambling or the lottery, congratulations! After you celebrate, be ready to deal with the tax consequences of your good fortune. Winning at gambling Whether you win at the casino, a bingo… Read More
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The IRS is targeting business transactions in bitcoin and other virtual currencies
Bitcoin and other forms of virtual currency are gaining popularity. But many businesses, consumers, employees and investors are still confused about how they work and how to report transactions on their federal tax returns. And the IRS just announced that… Read More
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Don’t flood email inboxes with excessive communications
Is your not-for-profit making the most of its email list? If you send every item to individual donors, corporate supporters, volunteers and the media — regardless of their interests or investment in your organization — you probably aren’t. Email segmentation… Read More
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Taking a long-term approach to certain insurance documentation
After insurance policies expire, many businesses just throw away the paper copies and delete the digital files. But you may need to produce evidence of certain kinds of insurance even after the coverage period has expired. For this reason, it’s… Read More
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The “kiddie tax” hurts families more than ever
Years ago, Congress enacted the “kiddie tax” rules to prevent parents and grandparents in high tax brackets from shifting income (especially from investments) to children in lower tax brackets. And while the tax caused some families pain in the past,… Read More
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Take a closer look at home office deductions
Working from home has its perks. Not only can you skip the commute, but you also might be eligible to deduct home office expenses on your tax return. Deductions for these expenses can save you a bundle, if you meet… Read More
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Making your nonprofit’s special event profitable
As in the for-profit world, sometimes not-for-profits need to spend money to make money. This is particularly true when it comes to fundraisers. At the same time, you need to resist the temptation to overspend or your special event may… Read More
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Run your strategic-planning meetings like they really matter
Many businesses struggle to turn abstract strategic-planning ideas into concrete, actionable plans. One reason why is simple: ineffective meetings. The ideas are there, lurking in the minds of management and key employees, but the process for hashing them out just… Read More