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The tax aspects of selling mutual fund shares

February 11, 2020 / by Sherie Johnson / Uncategorized / 0 comments

Perhaps you’re an investor in mutual funds or you’re interested in putting some money into them. You’re not alone. The Investment Company Institute estimates that 56.2 million households owned mutual funds in mid-2017. But despite their popularity, the tax rules involved in selling mutual fund shares can be complex. Tax basics If you sell appreciated […]

Numerous tax limits affecting businesses have increased for 2020

January 30, 2020 / by Brett Hess / Deadlines, Newsletter, Small Business, Tax, Uncategorized

An array of tax-related limits that affect businesses are annually indexed for inflation, and many have increased for 2020. Here are some that may be important to you and your business. Social Security tax The amount of employees’ earnings that are subject to Social Security tax is capped for 2020 at $137,700 (up from $132,900 […]

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 […]

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 […]

2018 Q3 tax calendar: Key deadlines for businesses and other employers

June 19, 2018 / by bmc_admin / Tax

Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2018. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. July […]

Could a long-term deal ease your succession planning woes?

June 7, 2018 / by bmc_admin / Small Business

Some business owners — particularly those who founded their companies — may find it hard to give up control to a successor. Maybe you just can’t identify the right person internally to fill your shoes. While retirement isn’t in your immediate future, you know you must eventually step down. One potential solution is to find […]

The TCJA changes some rules for deducting pass-through business losses

May 24, 2018 / by bmc_admin / Small Business

It’s not uncommon for businesses to sometimes generate tax losses. But the losses that can be deducted are limited by tax law in some situations. The Tax Cuts and Jobs Act (TCJA) further restricts the amount of losses that sole proprietors, partners, S corporation shareholders and, typically, limited liability company (LLC) members can currently deduct […]