ARTICLES

Accurate recordkeeping is more than just good business practice — it’s key to maximizing deductions and staying compliant. A recent Tax Court case shows how poor documentation can cost taxpayers thousands. Discover six practical ways to strengthen your recordkeeping system and safeguard valuable tax breaks.

A safe harbor 401(k) plan can help business owners avoid complex IRS testing and allow highly compensated employees to maximize contributions. This article explains how these plans operate, their contribution requirements, and the potential pros and cons for employers.

Discover practical accounts payable (AP) tips for small business owners. Learn how to improve cash flow, avoid costly mistakes, and build stronger vendor relationships with better AP management.

Effective cash flow management is essential for business stability, helping owners balance the timing of incoming sales and outgoing expenses. By monitoring business cycles and proactively adjusting strategies, companies can avoid cash shortages and maintain financial health.

Thinking about incorporating your business? While incorporation offers benefits like liability protection and growth opportunities, it also brings tax considerations like how much you pay yourself or other key employees. Learn about the IRS’s stance on reasonable compensation, the risks of misclassification, and real-world examples to help you make informed decisions.

Proper worker classification is critical to avoiding costly IRS penalties, audits, and back taxes. Learn the key differences between employees and independent contractors, how to reduce risk, and when to seek guidance. Make sure your business stays compliant and protected.

Planning summer trip? Learn which business travel expenses are tax-deductible in 2025, including key rules for combining business and personal travel, meal limits, and documentation tips.

Is your retirement plan at risk from early withdrawals? Learn how “leakage” could be costing your business more than you think — and what you can do about it. Read the full article for actionable insights.

Looking for a tax-smart way to support your employees and even your own family members? Learn how a Section 127 plan can offer $5,250 in annual tax-free education benefits—see if your business qualifies.

Explore how pairing a high-deductible health plan (HDHP) with Health Savings Accounts (HSAs) can help your business reduce costs, offer tax benefits, and enhance employee benefits.

Hiring your child to work in your small business can offer valuable tax benefits while teaching them responsibility and providing income. Learn how.

Payroll tax compliance is a critical responsibility for small businesses. Even minor errors can result in costly penalties, damage employee trust, and create legal issues. To help you avoid common pitfalls, here are six essential tips to keep your payroll on track.

Business party food & beverages may be 100% tax-deductible! Learn the rules for deducting business meals and entertainment expenses.

Boost employee benefits with 401(k)s, SEP-IRAs, or SIMPLE IRAs—each offers unique perks, limits, and tax advantages for growing businesses.

Deduct business travel costs like transport, lodging, and meals (50%) if necessary, reasonable, and documented. Rules vary; get advice!

Balance liquidity and growth with smart working capital management. Optimize receivables, payables, and inventory for lasting success.

Separating real estate ownership from your business may reduce double taxation and boost asset protection. Contact us to learn more.