Toni Springer is a CPA and President of Toni B. Springer, CPA P.A. in Altamonte Springs, Florida. She has been providing financial advice to small- and medium-sized businesses for 10 years. Today’s topic: Entertainment and meal deductions. Whether it’s the cost of ordering food for a late-night meeting or of taking a potential client to […]
Tammy Neel Pessmeg is a CPA and tax principal at Clifton, Larson, Allen, the ninth largest accountancy firm in the U.S. She has been handling tax issues for 20 years. Today, Tammy and I discuss Section 199A of the tax code, better known as the “Qualified Business Income Deduction” (QBID) or the “Pass-Through Deduction.” Unlike
Mapping Out the Brand-New 20% Qualified Business Income Deduction with Tammy Neel Read More »
Update: May 2020 As we hunker down for the upcoming hurricane season in 2020, it’s good to remind ourselves of the processes and laws that will potentially get renewed should disaster strike. In 2017, hurricanes Irma, Harvey, and Maria ravaged large swaths of the U.S. In the wake of this devastation, Congress passed the Disaster
Judy Rankin Explains Everything You Need to Know About the Employee Retention Tax Credit Read More »
In 2014, a group of delivery drivers in Maine sued their employer, Oakhurst Dairy, claiming that they were owed four year’s worth of overtime pay. A federal court in Maine initially ruled against them, but the drivers appealed that ruling to the First Circuit US Court of Appeals. With $10,000,000 on the line, the ruling
Could A Single Comma Cost This Business $10,000,000? Read More »
You may have heard a business owner or two tell you that partnerships don’t work. They typically follow this ”advice” with a cautionary anecdote about what a former partner did or did not do and how it ruined a relationship. Whatever the specifics, I’ve found that these stories often share two fundamental features that lead
The Two Partnership Killers And How To Avoid Them Read More »
Imagine buying your newly-licensed, 16-year old daughter her first car. When you go to the dealer and pick out that car, there’s a decent chance that you will simply pay the full price right then and there and drive off in the “new” car. An all-cash deal; no muss, no fuss. Unlike with a used
Getting an SBA Loan to Buy, Build, or Grow Your Business Read More »
We recently talked with a business owner who was looking to expand his successful service business. He told me that he wanted to franchise his business, but that he didn’t want to call it a “franchise.” He wanted to sell the right to use his business’ name and systems and collect ongoing royalties, but he
Franchise or License and Why the Difference Matters Read More »
Business owners generally understand that their business needs to have contracts and agreements in order to protect itself from being sued and having to pay lawyers to defend the company in court. What is less understood is how business contracts impact business value. Well-written contracts can enhance overall business value, and poorly written contracts can
Surprising Ways the Lease Affects the Value of Your Business Read More »
A business’ value is a function of many hard and soft factors. Of course, revenue and cash flow are vital to determining value, but the likelihood that the cash flow will continue in the future—or rather the risk that it will stop—is another vital component of business value. Business owners often overlook the role that
Protecting Business Value with Employment Agreements Read More »
Customers are the sine qua non of business. They are the difference between a booming Blockbuster Video store in the 90s and that strange building your kids ask you about sometimes. Customers bring revenue and, hopefully, profit. However, even though it may sound paradoxical, businesses outside of the mass-retail or related industries, don’t want every
Customer Agreements as Tools to Increase and Protect Business Value Read More »
