When Are LLC Members Subject to Self-Employment Tax?

Limited liability company (LLC) members commonly claim that their distributive shares of LLC income — after deducting compensation for services in the form of guaranteed payments — aren’t subject to self-employment (SE) tax. But the IRS has been cracking down [...]

By |2019-02-11T15:03:23+00:00February 11th, 2019|Categories: Blog, Small Business Services, Tax|0 Comments

Public Companies to Disclose Stock Hedging Policies and Practices

Does your company have policies in place regarding the use of hedging transactions by company insiders? Final Securities and Exchange Commission (SEC) guidance will soon require public companies to disclose whether their officers, employees and directors are allowed to [...]

By |2019-02-08T15:01:51+00:00February 8th, 2019|Categories: Blog, Small Business Services, Tax|Tags: |0 Comments

Beware the Taxes of Self-Employment

You can be self-employed as a sole proprietor/an independent contractor, or a member of a partnership or of a limited liability company. As such, you need to file an annual income tax return and pay estimated taxes throughout the [...]

By |2019-01-25T16:23:33+00:00January 25th, 2019|Categories: Blog, Small Business Services, Tax|Tags: |0 Comments

M&A due diligence: Don’t accept financial statements at face value

The M&A market was hot last year, and that momentum is expected to continue in 2019. Before acquiring another business, however, it’s important to do your homework. Conducting comprehensive due diligence can be a daunting task, especially if you’ve [...]

By |2019-01-18T12:20:05+00:00January 18th, 2019|Categories: Audit, Blog, Small Business Services|0 Comments

How do profits and cash flow differ?

Business owners sometimes mistakenly equate profits with cash flow. Here’s how this can lead to surprises when managing day-to-day operations — and why many profitable companies experience cash shortages. Working capital Profits are closely related to taxable income. Reported [...]

By |2019-01-14T14:08:42+00:00January 14th, 2019|Categories: Blog, Small Business Services, Tax|Tags: , , , |0 Comments

How to Handle Disagreements with the IRS

You're stuck in a tax audit. After an IRS examiner receives your documentation and makes a decision regarding proposed changes to your return, there are several options available as follows: You can sign the letter stating that you agree [...]

By |2019-01-02T14:58:25+00:00January 2nd, 2019|Categories: Audit, Blog, Small Business Services, Tax|Tags: |0 Comments

A refresher on major tax law changes for small-business owners

The dawning of 2019 means the 2018 income tax filing season will soon be upon us. After year end, it’s generally too late to take action to reduce 2018 taxes. Business owners may, therefore, want to shift their focus [...]

By |2019-01-02T12:31:09+00:00January 2nd, 2019|Categories: Blog, Small Business Services, Tax|Tags: |0 Comments

Conducting an effective post-M&A audit

So, you’re about to merge with another company. What’s next? The integration process typically starts with audited financial statements that reflect the results and financial position of the combined entity. This exercise requires a close partnership between the external audit [...]

By |2018-12-21T15:05:39+00:00December 21st, 2018|Categories: Audit, Blog, Small Business Services, Tax|Tags: , |0 Comments

California Implements Wayfair “Economic Nexus” Thresholds

California Announces New Use Tax Collection Requirements for In-State and Out-of-State Retailers California, the state with the fifth-largest economy in the world, has not required many out-of-state sellers to collect and remit tax on their California sales in the [...]

By |2019-02-07T16:53:24+00:00December 19th, 2018|Categories: Blog, Small Business Services, Tax|Tags: , |0 Comments

6 last-minute tax moves for your business

Tax planning is a year-round activity, but there are still some year-end strategies you can use to lower your 2018 tax bill. Here are six last-minute tax moves business owners should consider: Postpone invoices. If your business uses the cash [...]

By |2018-12-17T12:27:50+00:00December 17th, 2018|Categories: Blog, Small Business Services, Tax|Tags: , , |0 Comments