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Business man frustrated no growth

7 Reasons You’re Not Seeing Business Growth

By Business Advice, Uncategorized

Owning your own business can be one of the most rewarding journeys you ever start and most people would agree that they want to make a difference- they want to leave behind a legacy. Unfortunately, sometimes your business growth plateaus somewhere between start-up and profit. There is little that is more frustrating than working like crazy and not getting out what you are putting into your business. It’s important to understand that it’s common to invest in the beginning- but…

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business owner looking over financial statements

4 Financial Statements Every Business Owner Should Know

By Business Advice, Uncategorized

As a business owner, your days are full of many tasks that help ensure your business stays on track. When you do finally settle down at the end of the day, the last thing you want to do is go over your financials- but even so, it’s critical that you monitor your financial statements because they can help you predict whether your business is on track and profiting or if you are on a downward spiral. Your statements contain information…

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10 Tips for Successful Small Business Longevity

By Uncategorized

Did you know that only about 25% of small businesses survive 15 years or longer? If you’re trying to figure out how to make a small business last, you have to follow the right tips. With thousands and thousands of small businesses created each year, you have to stand out. keep reading to learn tips for your small business longevity. 1. Solve a Problem One of the reasons a business stays in business is because it is needed. This means the business has solved a…

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Smart Goal Setting: How to Set Small Business Goals

By Uncategorized

Are you trying to set small business goals but not sure how to go about doing it? With all of the responsibilities that are inherent in running a small business, it can be challenging to know what is needed to set the right goals. Yet, in order to make sure that your business succeeds, it is an important thing to do. If you want to find out more about what it takes to set the right small business goals, read…

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FEMA COVID funeral expenses

FEMA Providing Financial Assistance for COVID-19-Related Funeral Expenses

By Uncategorized

We want to make sure our clients know, that if you paid for a funeral for a loved one due to Covid,  you are able to get reimbursed for expenses incurred after January 20, 2020 up to $9,000. Below is the link with some more details for the Federal Emergency Management Agency (FEMA) COVID-19 Funeral Assistance: https://www.fema.gov/press-release/20210324/fema-help-pay-funeral-costs-covid-19-related-deaths The only way to apply for this is by calling FEMA directly at (844)684-6333 to complete the application process. Here is a 9-minute…

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What’s Tax Deductible For Your Company Autos?

By Uncategorized

Company automobiles can be a popular choice for a variety of small and big businesses, and serve a variety of purposes. Some businesses may find themselves needing their vehicle to perform business actions, while others may find it more beneficial to purchase company cars for their employees rather than reimburse employee expenses from their personal vehicle. Whichever category you fall into, it’s important to know the tax requirements and benefits your business faces:  Two Major Methods When it comes to…

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An Update: IRS Provides More Clarity On 20% Pass-Through Deduction

By Uncategorized

We now have updated guidance on the the Tax Cuts and Jobs Act from the IRS. As many of you know, there had been questions about if and how certain taxpayers—owners, partners, and shareholders in pass-through entities—could claim the 20% deduction on income. The recent guidance clarifies two major things, which we’ve simplified here: 1. How companies with various lines of business can claim the deduction. Instead of having to restructure their business, as many thought they may need to do,…

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Benefit Now, Pay Later: Here’s What to Know About NQDC Plans

By Uncategorized

Qualified” retirement plans include 401(k) and SIMPLE plans. These plans offer tax-advantaged contributions and potential earnings. On the other hand, “Non-qualified” deferred compensation (also called NQDC) plans don’t typically include those same tax advantages, yet they help companies compete for and retain top employees. How so? Here’s one example: imagine an employee has maxed out her 401(k) or 403(b) workplace savings plan. At the same time, she still is in a position where she wants to save more for her…

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Confused About the 2018 HSA Contribution Limits?

By Uncategorized

The IRS recently announced a clarification in a ruling it made regarding Health Savings Accounts (or HSAs). The contribution limit will stay with the original $6,900 limit for family coverage for 2018. Previously, the IRS had announced that the limit would be reduced for this calendar year to $6,850. That may not seem like a big deal, but people who had already contributed were going to face a penalty. Yes, a small penalty, but it still raised quite a few…

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