You may think you have to pay tax on all income you receive but it’s not true. There are still ways to earn income that is free from federal income tax. With the various tax increases that took effect at the beginning of this year, tax-free income opportunities are more valuable than ever.
If you have been thinking about a better way to handle you system backup you should consider cloud based backup. Cloud based backup services are a smart choice for many small businesses because they offer an easy, secure way to get backup data off site. This is a key part of any disaster recovery plan.
In my previous post Fraud? Not At My Company! I discussed some of the surprising statistics and rationale behind even a trusted employees motivations for committing fraud. So, how can I prevent fraud? Nothing can be a 100% guarantee against fraud happening but the following are some ways…
If you sell over the internet you may soon have to collect sales tax. Congress is considering legislation authorizing states to require out-of-state business selling to collect sales tax. This would require remote businesses to collect and remit sales tax according to local tax law.
Do you know how much profit you made on each of your jobs? How about on jobs-in-progress, are you on track with your estimate or not? How did you determine what to bid the job at – a gut feel or do you have historical job information so you know how much the various inputs costs, especially your labor burden and overhead costs?
Credit cards are an easy and convenient way for your customers to pay you. If you are a web merchant then it is virtually the only way. However, there are serious pitfalls you need to be aware of. Securing your customers’ credit card data is…
Being a trusted business advisor is more than having all the answers (or thinking you do) – it’s about connecting with other leaders and continually expanding your own knowledge base with outside perspectives. I’ve found that peer groups offer a great opportunity to make the connections that can help you grow your business.
“…and I leave my jewelry, china and iPhone to…” Wait, what? Why would you need to list your iPhone in your will? Wills have been in existence since the recording of the written word and can be traced to ancient Roman and Greek law. The “Last Will and Testament” is a legal declaration by which a person names one or more person to manage his/her estate…
After an examination of our new manufacturing client’s financial statements and tax returns, we found an opportunity for the client to claim a 9% tax deduction they previously were missing out on.
Business interruption insurance typically pays for income that is lost while operations are suspended after a natural or man-made disaster. However, these claims can be difficult and even contentious if there are differences of interpretation about the calculations, projections or the meaning of policy provisions.
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Anika: Corporate Risk Management and Enhanced Value
Anika is the CFO of a corporation and is researching CPA relationships that can offer more resources as the company scales up. Needs include business risk management as well as individual services for the primary shareholders. Anika wants advisors, not just compliance services. At this business stage, we recommend:
Audited, Reviewed & Compiled Financial Statements
Employee 401(k) Audits
Customized Agreed-upon Procedures
Family-owned & Privately Held Business Tax Planning
Individual Tax Services
Corporate & Partnership Tax Planning
Tax Credits & Incentives
Outsourced CFO Services
Financial KPI Dashboards & Advisory
Cash Flow Analysis
Bookkeeping & Accounting Services
Online Bill Management & Invoice Management
Business Valuations & Due Diligence
Valuations for Financial Reporting
Mergers & Acquisitions Consulting
Business Succession Planning Gift & Trust Planning
Gift & Trust Planning
Estate Planning Services
Financial Planning
Individual & Business Investments
Retirement Planning
Employee 401(k) Plan Administrative Services
Risk Management & Insurance Options
* Wealth Management services offered by DSB Rock Island Wealth Management, LLC. Securities offered through LPL Financial, Member FINRA/SIPC . Investment advice offered through Great Valley Advisor Group, a registered investment advisor. Great Valley Advisor Group, DSB Rock Island Wealth Management, and DSB Rock Island are separate entities from LPL Financial.
The LPL Financial registered representative(s) associated with this website may discuss and/or transact business only with residents of the state in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.
Howard: Corporate Risk Management and Enhanced Value
Howard is the owner of a third-generation family business that involves real estate development. He is highly active in his community and relies on his CFO for daily operations. He is not sure to what extent his adult children will take over the business in the future, and he needs proactive planning and tax mitigation to sustain high business value. At this business and life stage, we recommend:
Audited, Reviewed & Compiled Financial Statements
Employee 401(k) Audits
Customized Agreed-upon Procedures
Family-owned & Privately Held Business Tax Planning
Individual Tax Services
Corporate & Partnership Tax Planning
Tax Credits & Incentives
Outsourced CFO Services
Financial KPI Dashboards & Advisory
Cash Flow Analysis
Bookkeeping & Accounting Services
Online Bill Management & Invoice Management
Business Valuations & Due Diligence
Valuations for Financial Reporting
Mergers & Acquisitions Consulting
Business Succession Planning Gift & Trust Planning
Gift & Trust Planning
Estate Planning Services
Financial Planning
Individual & Business Investments
Retirement Planning
Employee 401(k) Plan Administrative Services
Risk Management & Insurance Options
* Wealth Management services offered by DSB Rock Island Wealth Management, LLC. Securities offered through LPL Financial, Member FINRA/SIPC . Investment advice offered through Great Valley Advisor Group, a registered investment advisor. Great Valley Advisor Group, DSB Rock Island Wealth Management, and DSB Rock Island are separate entities from LPL Financial.
The LPL Financial registered representative(s) associated with this website may discuss and/or transact business only with residents of the state in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.
Jacob: Corporate Risk Management and Enhanced Value
Jacob owns a growing small business without a full-time HR function. He is ready to provide retirement benefits to attract and retain employees. His advisor needs to make the employee benefits process easy and informative while also looking out for Jacob’s personal financial planning and retirement. At this business and life stage, we recommend:
Audited, Reviewed & Compiled Financial Statements
Employee 401(k) Audits
Customized Agreed-upon Procedures
Family-owned & Privately Held Business Tax Planning
Individual Tax Services
Corporate & Partnership Tax Planning
Tax Credits & Incentives
Outsourced CFO Services
Financial KPI Dashboards & Advisory
Cash Flow Analysis
Bookkeeping & Accounting Services
Online Bill Management & Invoice Management
Business Valuations & Due Diligence
Valuations for Financial Reporting
Mergers & Acquisitions Consulting
Business Succession Planning Gift & Trust Planning
Gift & Trust Planning
Estate Planning Services
Financial Planning
Individual & Business Investments
Retirement Planning
Employee 401(k) Plan Administrative Services
Risk Management & Insurance Options
* Wealth Management services offered by DSB Rock Island Wealth Management, LLC. Securities offered through LPL Financial, Member FINRA/SIPC . Investment advice offered through Great Valley Advisor Group, a registered investment advisor. Great Valley Advisor Group, DSB Rock Island Wealth Management, and DSB Rock Island are separate entities from LPL Financial.
The LPL Financial registered representative(s) associated with this website may discuss and/or transact business only with residents of the state in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.
Radhika: Corporate Risk Management and Enhanced Value
Radhika is a successful franchisee who owns three stores and wants to double that with the help of her management team and outside advisors. She is building a financial legacy for her family while also helping her community. She has a strong development playbook, but she needs her advisor to proactively advise on taxation, due diligence and risk management. At this business and life stage, we recommend:
Audited, Reviewed & Compiled Financial Statements
Employee 401(k) Audits
Customized Agreed-upon Procedures
Family-owned & Privately Held Business Tax Planning
Individual Tax Services
Corporate & Partnership Tax Planning
Tax Credits & Incentives
Outsourced CFO Services
Financial KPI Dashboards & Advisory
Cash Flow Analysis
Bookkeeping & Accounting Services
Online Bill Management & Invoice Management
Business Valuations & Due Diligence
Valuations for Financial Reporting
Mergers & Acquisitions Consulting
Business Succession Planning Gift & Trust Planning
Gift & Trust Planning
Estate Planning Services
Financial Planning
Individual & Business Investments
Retirement Planning
Employee 401(k) Plan Administrative Services
Risk Management & Insurance Options
* Wealth Management services offered by DSB Rock Island Wealth Management, LLC. Securities offered through LPL Financial, Member FINRA/SIPC . Investment advice offered through Great Valley Advisor Group, a registered investment advisor. Great Valley Advisor Group, DSB Rock Island Wealth Management, and DSB Rock Island are separate entities from LPL Financial.
The LPL Financial registered representative(s) associated with this website may discuss and/or transact business only with residents of the state in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.
Tony: Corporate Risk Management and Enhanced Value
Tony has built a large franchise and is ready to transition or sell his stores. After that, he may become a franchisor of another enterprise or a franchise consultant. He wants a turnkey management approach with less day-to-day oversight while also growing his wealth through smart investments. At this business and life stage, we recommend:
Audited, Reviewed & Compiled Financial Statements
Employee 401(k) Audits
Customized Agreed-upon Procedures
Family-owned & Privately Held Business Tax Planning
Individual Tax Services
Corporate & Partnership Tax Planning
Tax Credits & Incentives
Outsourced CFO Services
Financial KPI Dashboards & Advisory
Cash Flow Analysis
Bookkeeping & Accounting Services
Online Bill Management & Invoice Management
Business Valuations & Due Diligence
Valuations for Financial Reporting
Mergers & Acquisitions Consulting
Business Succession Planning Gift & Trust Planning
Gift & Trust Planning
Estate Planning Services
Financial Planning
Individual & Business Investments
Retirement Planning
Employee 401(k) Plan Administrative Services
Risk Management & Insurance Options
* Wealth Management services offered by DSB Rock Island Wealth Management, LLC. Securities offered through LPL Financial, Member FINRA/SIPC . Investment advice offered through Great Valley Advisor Group, a registered investment advisor. Great Valley Advisor Group, DSB Rock Island Wealth Management, and DSB Rock Island are separate entities from LPL Financial.
The LPL Financial registered representative(s) associated with this website may discuss and/or transact business only with residents of the state in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.
