What are the Tax Implications of Buying or Selling a Business?
By Zaher Basha, CPA, CM&AA, courtesy of Yeo & Yeo Merger and acquisition activity in many industries slowed during 2020 due to COVID-19. But analysts expect it to improve in 2021 […]
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March 25, 2021
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March 24, 2021
Follow Detailed Recordkeeping Rules for Vehicle Expense Deductions
Courtesy of Yeo & Yeo Many business owners fail to follow the strict tax rules for substantiating vehicle expenses. But if your business is audited, the IRS will most likely ask […]
March 19, 2021
Federal Income Tax Filing Deadline Extended to May 17
Courtesy of Ahola Corporation The filing date for the federal income tax has been postponed until May 17. The IRS has announced that individual taxpayers can also postpone federal income […]
March 6, 2021
Salary History Bans – Know the Limitations
By Sheila Hoover, courtesy of SBAM Approved Partner ASE ASE has received many questions regarding the salary history ban many states have enacted recently. A salary history ban prohibits employers […]
February 27, 2021
Employee Retention Tax Credit Overview
Courtesy of Ahola Corporation The second relief bill, passed at the end of 2020, contains updates to the employee retention credit, a refundable payroll tax credit. Each option has its […]
February 16, 2021
Inoculating Your Business for the Post-COVID Economy: Disruptions Create Opportunity
By Leon LeBrecque, originally featured in SBAM’s FOCUS Magazine Good riddance to 2020, to pandemics, to shutdowns, to complicated new regulations and to elections. The question we need to ask […]
January 19, 2021
Quick Action Required – New Stimulus For Small Business
By Leon LaBrecque, JD, CPA, CFP®, CFA | Chief Growth Officer, Sequoia Financial The Consolidated Appropriations Act (CAA) gave us some last-minute fiscal relief, notably $600 stimulus checks for individuals and […]
January 4, 2021
COVID Relief Bill: Tax Credits for Paid Leave Extended to March 31
Courtesy of Ahola Corporation A new $900 billion coronavirus relief bill has become law and answers the question of whether federal Emergency Paid Sick Leave (EPSL) and Emergency Family and […]
December 31, 2020
Understanding IRS Audit Guidance
Courtesy of Yeo & Yeo IRS examiners usually do their homework before meeting with taxpayers and their professional representatives. This includes reviewing any relevant Audit Techniques Guides (ATGs) that typically focus […]
December 22, 2020
Family Business Owners Must Weave Together Succession and Estate Planning
By Rebecca Millsap, CPA, courtesy of Yeo & Yeo It’s been estimated that there are roughly 5 million family-owned businesses in the United States. Annually, these companies make substantial contributions to both […]
December 21, 2020
FAQs About Tax-Free Disaster Relief Payments During the COVID-19 Crisis
Courtesy of Yeo & Yeo Many people are struggling to make ends meet during the COVID-19 pandemic. Fortunately, some individuals qualify for federal-income-tax-free disaster relief and disaster mitigation payments paid by […]
November 24, 2020
Now More Than Ever, Carefully Track Payroll Records
Courtesy of Yeo & Yeo The subject of payroll has been top-of-mind for business owners this year. The COVID-19 pandemic triggered economic changes that caused considerable fluctuations in the size […]
November 20, 2020
Award Year-End Bonuses the Right Way
Courtesy of Yeo & Yeo This has been a rough year for many businesses in a broad range of industries — perhaps including your company. As the New Year beckons, you might […]
November 18, 2020
Best Practices When Forecasting Cash Flow
Courtesy of Yeo & Yeo Cash flow is a top concern for most businesses today. Cash flow forecasts can help you predict potential shortfalls and proactively address working capital gaps. […]
November 11, 2020
Compensation Planning in the Covid-19 Era
Courtesy of Ahola Corporation As businesses move forward operating in new ways in the midst of this global pandemic, many are rethinking how their employees are compensated. In the pre-Covid […]
November 9, 2020
Payroll and Tax Changes in 2021
Courtesy of Ahola Corporation What will 2021 bring us? After a year of turmoil and surprises, no one has a clear crystal ball. But there are some certainties, and one […]
October 21, 2020
Reviewing Your Disaster Plan in a Tumultuous Year
By Nolan Felsing, CPA, courtesy of Yeo & Yeo It’s been a year like no other. The sudden impact of the COVID-19 pandemic in March forced every business owner — ready […]
October 20, 2020
The Easiest Way to Survive an IRS Audit is to Get Ready in Advance
Courtesy of Yeo & Yeo IRS audit rates are historically low, according to the latest data, but that’s little consolation if your return is among those selected to be examined. […]
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