Small Business | Business Management Company

Choosing a funding method for your buy-sell agreement

May 3, 2016 / by Brett Hess / Small Business

Anyone who owns a closely held business with at least one other partner needs to take certain steps to guard against business disruption. If one partner departs suddenly, or becomes disabled or dies, serious confusion and conflicts can ensue. Among the most important steps is to create a buy-sell agreement, which stipulates precisely how ownership […]

QSB stock offers 2 valuable tax benefits

May 3, 2016 / by Brett Hess / Small Business, Tax

By investing in qualified small business (QSB) stock, you can diversify your portfolio and enjoy two valuable tax benefits: 1. Tax-free gain rollovers. If within 60 days of selling QSB stock you buy other QSB stock with the proceeds, you can defer the tax on your gain until you dispose of the new stock. The […]

Entrepreneurs: What can you deduct and when?

April 9, 2016 / by Brett Hess / Small Business

Starting a new business is an exciting time. But before you even open the doors, you generally have to spend a lot of money. You may have to train workers and pay for rent, utilities, marketing and more. Entrepreneurs are often unaware that many expenses incurred by start-ups can’t be deducted right away. How expenses […]

Extension means businesses can take bonus depreciation on their 2015 returns – but should they?

March 28, 2016 / by Brett Hess / Small Business, Tax

Bonus depreciation allows businesses to recover the costs of depreciable property more quickly by claiming additional first-year depreciation for qualified assets. The Protecting Americans from Tax Hikes Act of 2015 (the PATH Act) extended 50% bonus depreciation through 2017. The break had expired December 31, 2014, for most assets. So the PATH Act may give […]

Deduct home office expenses — if you’re eligible

February 12, 2016 / by Brett Hess / Small Business, Tax

Deduct home office expenses — if you’re eligible Today it’s becoming more common to work from home. But just because you have a home office space doesn’t mean you can deduct expenses associated with it. Eligibility requirements If you’re an employee, your use of your home office must be for your employer’s convenience, not just […]

Achieving your succession and estate planning goals via recapitalization

January 25, 2016 / by Brett Hess / Small Business, Tax

Like many business owners, you probably have much of your wealth tied up in your company. And this fact may be creating a conflict between the desire to transfer ownership to the next generation and the desire to stay in control. One potential solution: Recapitalize your business into voting and nonvoting shares. From an estate […]

A shorter cash flow cycle means a stronger business

October 15, 2015 / by Brett Hess / Small Business

A shorter cash flow cycle means a stronger business Every business owner knows that maintaining a healthy cash flow is essential to a company’s success. But there are a variety of ways to accomplish this objective. One way is to accelerate inflows and decelerate outflows, thereby shortening your cash flow cycle. Truncating this cycle by […]

Selling rather than trading in business vehicles can save tax

September 30, 2015 / by Brett Hess / Small Business, Tax

Selling rather than trading in business vehicles can save tax Although a vehicle’s value typically drops fairly rapidly, the tax rules limit the amount of annual depreciation that can be claimed on most cars and light trucks. Thus, when it’s time to replace a vehicle used in business, it’s not unusual for its tax basis […]

Protecting your Business Interests

September 3, 2015 / by Brett Hess / Small Business

Protect business interests as part of your personal wealth management strategy If you’re a business owner, your company is likely the biggest asset you own. As you carefully craft your personal wealth strategy, there are a wide variety of asset-protection strategies you should consider to help ensure that your business will remain a valuable asset […]

Planning for Success

August 6, 2015 / by Brett Hess / Small Business

As business owners, we often do a good job of planning for possible negative outcomes or circumstances. We set aside enough cash flow to weather a downturn in our business, we plan for the tax impacts of profits on the business, we plan for turnover in our staff, etc. This type of planning is important […]

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