Insights
Real estate investment has long been an attractive option for investors seeking to diversify their portfolios and build long-term wealth. With it brings the potential for steady rental income, property value appreciation, and a hedge against inflation. Alongside these well-known benefits, however, lies a complex tax landscape that real estate investors must navigate. This article will…
Read MoreNatural and human-caused disasters often occur without much warning and can disrupt even the most well-oiled operations. Being equipped with an emergency preparedness plan for your business can ensure continuity after an incident. Your emergency plan should include your business’s operational documents. Keeping these documents secure can facilitate informed decisions during a crisis, enabling effective…
Read MoreOvertime rules under the Fair Labor Standards Act (FLSA) can be confusing, but business owners need to know the provisions. Following are some provisions to be aware of. There’s no limit on the number of hours employees age 16 and older may work in any workweek. The FLSA doesn’t require overtime pay for work on…
Read MoreCorporate Transparency Act: What Small Businesses Need to Know About New Reporting Requirements
Effective January 1, 2024, millions of privately-owned small businesses became subject to new reporting obligations under the Corporate Transparency Act (CTA), an anti-crime law that seeks to uncover the concealment of illicit money through the use of shell and front companies. In an effort to increase transparency of true ownership behind anonymous corporate structures, entities…
How To Handle Intangible Assets – Part II: Business Buyers Beware
If you are currently in the market to acquire a business or may consider such a move later, you will want to carefully consider intangible assets in your business valuation. While these assets have value you don’t want to ignore, you will also want to ensure you account for them in the most tax-favorable way…
Do You Have More Than 100 Employees in Your Employee Benefit Plan?
If you have more than 100 employees participating in your employee benefit plan (EBP), you may be required to undergo an EBP audit. For plan years beginning on or after January 1, 2023, the requirements for an EBP audit have changed. Defined contribution plans that have at least 100 participants with account balances in their…
The Importance of Beneficiary Designations
“Carol Page” got a call from the bank-an IRA from her deceased father was found and paperwork needed to be signed. But before the money was made available, a snag was discovered-her mother was named as the beneficiary, and unfortunately, her mother had recently died. The bank explained that now Page had to work with…
Small Business Tax Breaks: Are You Leaving Money on the Table?
When running a small business, it’s easy to get caught up in the day-to-day demands of overseeing operations, managing cash flow, and ensuring customer satisfaction. With so many pressing priorities, exploring tax breaks and incentives often falls to the bottom of the to-do list. However, taking the time to learn more about available tax benefits can…
Ransomware is Targeting Small Businesses
During the pandemic, data breaches disproportionately affected smaller companies; they were targeted at twice the rate of larger businesses. Since the pandemic, those same smaller companies have been struggling with COVID-19 fallout ranging from supply and labor shortages to bouts of inflation. All those preoccupations have left them more vulnerable to ransomware attacks. Enemy at…