Those who run family-owned businesses often underestimate the need for a succession plan. But you can’t assume an ownership transition will go smoothly just because everyone involved is family. Some family members may want to continue with the business; others may...
It’s a great time of year for businesses to show their appreciation for employees and customers by giving them gifts or hosting holiday parties. Gifts to customers are generally deductible up to $25 per recipient per year. De minimis, noncash gifts to employees aren’t...
The cash method of accounting offers greater tax-planning flexibility, allowing some businesses to defer taxable income. Under the TCJA, if your business’s average gross receipts for the previous three tax years are $25 million or less, you generally will now be...
In a strong economy, some companies cut back on marketing while others overspend on it. A better approach is to get more from your investment so you can cut back or ramp up as prudent. Start with digital marketing: Use search engine optimization, social media and...