Manufacturing and Distribution

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Projecting your business income and expenses for this year and next can allow you to time when you recognize income and incur deductible expenses to your tax advantage. Typically, it’s better to defer tax. This might end up being especially true this year, if tax reform legislation is signed into
Promoting current, nonsupervisory employees to management positions can fulfill the employment needs of many organizations. You’ve just got to follow the right recipe.
If you acquire a company, your to-do list will be long, which means you can’t devote all of your time to the deal’s potential tax implications. However, if you neglect tax issues during the negotiation process, the negative consequences can be serious.
If your sales team is willing to say whatever it takes to land a sale, it could hurt your company’s good name. So don’t overlook sales when building an ethical business culture.
Your first action when you uncover fraudulent activity should be to take proactive steps to preserve evidence. Otherwise, you might inadvertently destroy or discard critical data. And without evidence, fraud can’t be fully traced and perpetrators can’t be prosecuted and punished.
Many employers labor along with little to no idea what their employees are really thinking or feeling about a variety of critical employment issues.
If your business is a limited liability company (LLC) or a limited liability partnership (LLP), you know that these structures offer liability protection and flexibility as well as tax advantages.
With an employee stock ownership plan (ESOP), employee participants take part ownership of the business through a retirement savings arrangement.
A fringe benefit is “a form of pay (including property, services, cash or cash equivalent), in addition to stated pay, for the performance of services. But the tax treatment of a fringe benefit can vary dramatically based on the type of benefit.
Offering employees an equity interest in your business can be a powerful tool for attracting, retaining and motivating quality talent. If your business is organized as a partnership, however, there are some tax traps you should watch out for.
It’s common for closely held businesses to transfer money into and out of the company, often in the form of a loan. However, the IRS looks closely at such transactions: Are they truly loans, or actually compensation, distributions or contributions to equity?
If your employees incur work-related travel expenses, it is critical that you comply with IRS rules to secure tax-advantaged treatment for your business and your employees.
Don’t let an IRS audit interrupt your day-to-day responsibilities. By taking a meticulous, proactive approach to how you track, document and file your company’s tax-related information, you’ll make an audit much less painful and even decrease the chances that one happens in the first place.
With the ease and popularity of e-commerce, as well as the incredible efficiency of many supply chains, companies of all sorts are finding it easier than ever to widen their markets. Doing so has become so much more feasible that many businesses quickly find themselves crossing state lines.
Do you ever feel like you just never seem to have any cash on hand? Is your cash leaving the business as quickly as it comes in? Take a few minutes to get a better understanding of your cash flow and review the controls you have in place over cash.
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