12.23.11

Form 990 to the Rescue!
Harry Fox

You’ve seen the pleas for assistance, read the organization’s brochure, why you’ve even spoken to a few friends to get their thoughts on the organization. You’ve finally found the perfect non-profit to share your good fortune with. But wait, you’re still asking yourself “How do I know what my donation is really being spent on?”

12.22.11

Close the Books!
Brian R. Israel

Does your business traditionally close on a particular day of the week? If you analyze your profit and loss statements on a weekly basis, as many restaurants do, you may want to consider adopting an accounting period known as a 52-53 week year.

12.14.11

Energy Efficiency Makes “Cents”

The benefits of constructing energy efficient commercial buildings are not just environmental. For business owners and designers, the 2005 Energy Policy Act (EPA) created Section 179D which allows a substantial federal tax deduction for the costs of installing certain energy efficient systems in commercial buildings.

12.09.11

Holiday Tipping Guide
Robert Swenson

With the year drawing to a close, now is an ideal time to review your tax situation and evaluate strategies that may help minimize your bill. Here are five tax planning tips to consider before year-end that could keep more money in your pocket.

12.05.11

Gift Card Crazy II: Holiday Edition

As Black Friday and the official start of the Holiday Season have passed, many of us will buy and receive gift cards within the coming weeks. While they make for an easy holiday gift, they also can be useful to the businesses selling them. Take a look at the pros and cons gift cards can have for business owners.

11.29.11

Hope is the Best Gift
Andrea Stern Ferris

As we celebrate Lung Cancer Awareness Month in November, we are reminded that lung cancer is a difficult disease to detect. Unlike breast, prostate or colon cancers, there are no reliable methods for the early detection of lung cancer.

11.21.11

A Quick Tip on Tips!
Brian R. Israel

Restaurants with tipped employees should beware of the amended Department of Labor tip credit regulation that hit the industry earlier this year. If rising food costs aren’t painful enough, now those with tipped employees must be sure that their payroll policies comply with the new rules or face significant added costs.

11.07.11

REPORT FOR DUTY! Support your country AND earn tax credits.
Robert Swenson

When you hire a Veteran, you are not only being patriotic but you may also qualify for a tax credit. Veterans are generally described as a highly skilled workforce, tech savvy, leaders and motivated. Those are great traits for a new employee and it can also shave money off your tax bill at the same time.

11.02.11

Segregate Costs to Save Taxes
Thomas Kosinski

Many real estate costs are subject to capitalization rules for tax purposes. These rules require the cost of buildings to be depreciated annually over the useful life of a building. The IRS has added several tax benefits in recent years to increase the amount of tax deductions available if certain guidelines are met.

10.28.11

Going Once, Going Twice, Put it in the Books!
Barbara Miller

Many not-for-profit organizations hold fundraising events, such as dinners and galas, with the dual purpose of raising awareness of their programs and increasing donations.  These organizations are required to report revenue and expenses from special events on their statement of activities as gross amounts if the events are part of the organization’s ongoing major or […]