Private Business Blog

Blogs September 04, 2018 Beware of the Employee/Independent Contractor Classification Conundrum

Congress and the IRS are increasing their scrutiny on misclassification of workers as independent contractors rather than employees and employers must understand the difference or face significant civil and criminal penalties.

Blogs August 14, 2018 Tax Cuts and Jobs Act of 2017: How Will it Impact Your Deduction of Mortgage and Home Equity Loan Interest for 2018?

The Tax Cuts and Jobs Act of 2017 has changed how itemized deductions are calculated for 2018 until 2026. One of these changes is in how interest is allowed to be deducted on mortgage and home equity loans.

Blogs July 13, 2018 Tax Reform: Changes You May Have Overlooked

With the passing of the Tax Cuts and Jobs Act, there were changes made during tax reform that were not as publicized as the C-corporate rate decreasing or the new qualified business income deduction. Here are a list of tax changes you may have overlo…

Blogs May 17, 2018 The Importance of Developing Your Organization’s Bench Strength

Organizations that spend time developing a culture that encourages all employees to cultivate their work skills can create an environment where they always be ready for what comes next.

Blogs April 19, 2018 Tax Reform: Should I Convert to a C Corporation?

With the passing of the Tax Cuts and Jobs Act, a lot of questions have arisen from closely held business owners about converting their limited liability company or S corporation to a C corporation. Does it make sense to switch to or start a C corp?

Blogs March 28, 2018 The Interest Deduction Under Tax Reform

One of the changes in the Tax Cuts and Jobs Act is the interest expenses deduction limitation for businesses effective tax year 2018. You should start planning for this as soon as possible so you are not surprised with a tax liability for 2018.

Blogs March 12, 2018 Tax Reform: Depreciation

Now may be the best time to acquire fixed assets for your business and take full advantage of expensing on qualified asset additions. As always, circumstances may apply to your situation; it is best to consult your tax advisor.

Blogs February 23, 2018 Tax Reform’s Impact on Meals and Entertainment Rules

Meals and entertainment deductions have changed drastically under the 2017 Tax Reform and Jobs Act. Going forward, the best way to handle these expenses is to establish separate general ledger accounts to distinguish between the different types.

Blogs February 20, 2018 Optimizing the Use of Legal Counsel

Every small business will eventually need legal counsel. The key is to leverage these experts in the most efficient and cost-effective manner.