Business

How You Can Avoid Paying Taxes When Selling Your Business

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Did you know it is possible to exclude paying taxes when selling your business if it’s considered Qualified Small Business Stock (QSBS)? If you meet the criteria, this is possible. General Criteria: And if you like what you just read, then don’t hesitate to forward to your friends, and/or click “Like” on LinkedIn! Make sure […]

Beneficial Depreciation Changes for Businesses

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When making a large purchase for your business, such as with equipment, furniture, vehicles, or qualified improvements, you generally have to depreciate it over time. However, with the new tax law changes, the way you depreciate it is different. The old law allowed you to depreciate 40% of the cost of a qualified asset in […]

Some Tax Items Made Permanent

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The One Big Beautiful Bill Act made some items permanent as follows: Individual tax rates: 10%, 12%, 22%, 24%, 32%, 35%, 37% Limitation on deduction of qualified residence interest No personal exemptions Exclusion from gross income for employer payments of student loans. The $5,250 exclusion amount is indexed for inflation after 2026. Restores and increases […]

Help Your Employees Succeed

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Do you want your employees to be successful in their position? Here are several ways to do so. Proper Training Employees need to be properly and thoroughly trained in their position. This can be done via one-on-one training, training courses and written instructions. Depending upon the task and the position, all three ways can be […]

Business Risks You Aren’t Thinking About

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I hate to be a Debbie Downer, but here are a few business risks you probably aren’t thinking about and some potential solutions to avoid them: Health Risk If you’re in your 20’s or 30’s you probably aren’t thinking about health concerns, but for those in their 40’s and above, it enters your mind more […]

5 Tips to Improve Cash Flow Immediately

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Does your cash seem to be lacking even though your business is doing well? Here are 5 tips to immediately improve your cash flow: Accept Electronic Payments You’d be surprised by the number of businesses that rely on having their customers send them checks. It’s such a slow process that can take weeks or months […]

How to Make Your Accounting Feel Less Painful

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I’ve heard many descriptive words when it comes to accounting and maybe it’s because most people don’t find accounting as exciting as accountants do. Here’s how to make your accounting less painful: Outsource Most small businesses use QuickBooks Online to maintain their accounting records. Instead of doing this yourself, you can outsource this to your […]