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TAX TIME IN THE SUMMER?

How planning in the summer can lead to savings next spring Most Americans don’t spend their summer months thinking about taxes. Once April 15 is behind you, your mind turns to more cheerful subjects and you take a much needed break from worrying about what you owe to old...... Read More

CREATE VALUE, NOT JUST PROFIT

As a business owner, increasing your profitability is probably one of your highest priorities. But do you know that simply improving your profits may not also maximize the value of your organization? Many business owners assume that a more profitable business is a more valuable business. In many cases...... Read More

Making Financial Knowledge Power for Your Business

How good information can drive great decisions In today’s economy, success isn’t accidental. It’s the result decisions made which are based on the best information possible. As a business owner, so much depends on the decisions you make. Your decisions not only affect you, they affect your family, your...... Read More

IRS Raises Tangible Property Expensing Threshold to $2,500

The Internal Revenue Service has simplified the paperwork and recordkeeping requirements for small businesses by raising from $500 to $2,500 the safe harbor threshold for deducting certain capital items. The change affects businesses that do not maintain an audited financial statement. It applies to amounts spent to acquire, produce or...... Read More

It’s Not Too Early to Start Planning to Maximize Your Retirement Accounts in 2016!

With the end of the year coming soon, now is a good time to take a look at your retirement savings and make any necessary changes for the new year to ensure you are maximizing your opportunities.  Here are a few tips to consider: If your employer has a...... Read More

THE IMPORTANCE OF LIFE INSURANCE FOR SMALL BUSINESS OWNERS

A report from the U.S. Small Business Administration notes that small business owners represent more than 99 percent of all employer firms today (U.S. Dept. of Commerce, Census Bureau and Intl. Trade Admin.). Small business owners are the heart and soul of the US economy. As such, protection for...... Read More

AFFORDABLE CARE ACT UPDATE

Affordable Care Act – October 1 Deadline for Employers to Provide Exchange Notices Under the Patient Protection and Affordable Care Act (PPACA), the newly created Health Insurance Marketplace (the Exchanges) begins enrollment on October 1, 2013. All employers subject to the Fair Labor Standards Act (see below for affected entities) are required...... Read More

What are the Odds that I Might Get Audited by the IRS?

The IRS recently released audit statistics relating to 2011 income tax returns filed in 2012.  If you have ever wondered what your odds of being audited are, there is a 1 percent chance of personal (1040) returns being audited and a 3.5 percent chance of business returns (1120, 1120S...... Read More

HSA Contribution Limits for 2014 Announced

The IRS has recently announced the Health Savings Account (HSA’s) limits for 2014.  These amounts are indexed each year for inflation.  For 2014, the contribution limit for individuals is $3,300.  The limit for family coverage is $6,550.  There is a catch up provision for those aged 55 or older...... Read More

Preparing for the Worst – Are Your Ready?

The recent tornados in Oklahoma have left a path of destruction and have literally torn apart thousands of lives and businesses.  I was watching a local weather broadcaster in Indianapolis this morning who asked the question, “What if a tornado the size of the tornado in El Reno, Oklahoma...... Read More

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