September 4, 2018 / by bmc_admin / Small Business, Tax
If you’ve done any research into employee benefits for your business recently, you may have come across a bit of alphabet soup in the form of “HSA + HDHP.” Although perhaps initially confusing, this formula represents an increasingly popular model for health care benefits — that is, offering a Health Savings Account (HSA) coupled with, as […]
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Can you deduct charitable gifts on your tax return?
January 21, 2020 / by Brett Hess / Small Business, Tax
Many taxpayers make charitable gifts — because they’re generous and they want to save money on their federal tax bills. But with the tax law changes that went into effect a couple years ago and the many rules that apply to charitable deductions, you may no longer get a tax break for your generosity. Are […]
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How business owners and execs can stay connected with staff
January 15, 2020 / by Brett Hess / Small Business
With the empty bottles of bubbly placed safely in the recycling bin and the confetti swept off the floor, it’s time to get back to the grind. The beginning of the year can be a busy time for business owners and executives, because you no doubt want to get off to a strong start in […]
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Some business owners can’t participate in their own companies’ HRAs
August 28, 2019 / by Brett Hess / Newsletter, Small Business
Many companies now offer Health Reimbursement Arrangements (HRAs) in conjunction with high-deductible health plans (HDHPs). HRAs offer some advantages over the perhaps better-known HDHP companion account, the Health Savings Account (HSA). If you’re considering adding an HRA, you might assume that, as a business owner, you can participate in the HRA. But this may […]
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Read this before you try to sell your business.
August 22, 2019 / by Brett Hess / Newsletter, Small Business
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Data Security – The Risk is Real
October 31, 2018 / by Brett Hess / Newsletter, Small Business
No company is too small for a hacker. In fact, when it comes to data breaches – hackers tend to gravitate towards smaller businesses. Nearly two thirds of all data breaches occur within small firms. Hackers focus their attention on these companies because they don’t have millions of dollars to protect themselves from cyber-attacks like larger companies […]
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Tax-free fringe benefits help small businesses and their employees
October 11, 2018 / by Brett Hess / Small Business, Tax
In today’s tightening job market, to attract and retain the best employees, small businesses need to offer not only competitive pay, but also appealing fringe benefits. Benefits that are tax-free are especially attractive to employees. Let’s take a quick look at some popular options. Insurance Businesses can provide their employees with various types of insurance […]
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HSA + HDHP can be a winning health benefits formula
September 4, 2018 / by bmc_admin / Small Business, Tax
If you’ve done any research into employee benefits for your business recently, you may have come across a bit of alphabet soup in the form of “HSA + HDHP.” Although perhaps initially confusing, this formula represents an increasingly popular model for health care benefits — that is, offering a Health Savings Account (HSA) coupled with, as […]
Read more
Contemplating compensation increases and pay for performance
August 9, 2018 / by bmc_admin / Small Business
As a business grows, one of many challenges it faces is identifying a competitive yet manageable compensation structure. After all, offer too little and you likely won’t have much success in hiring. Offer too much and you may compromise cash flow and profitability. But the challenge doesn’t end there. Once you have a feasible compensation […]
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Is your inventory getting the better of you?
July 10, 2018 / by bmc_admin / Small Business
On one level, every company’s inventory is a carefully curated collection of inanimate objects ready for sale. But, on another, it can be a confounding, slippery and unpredictable creature that can shrink too small or grow too big — despite your best efforts to keep it contained. If your inventory has been getting the better […]
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Saving tax on restricted stock awards with the Sec. 83(b) election
June 14, 2018 / by bmc_admin / Small Business, Tax
Today many employees receive stock-based compensation from their employer as part of their compensation and benefits package. The tax consequences of such compensation can be complex — subject to ordinary-income, capital gains, employment and other taxes. But if you receive restricted stock awards, you might have a tax-saving opportunity in the form of the Section […]
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