It may surprise you to learn that according to a recent study by the University of Connecticut, over 70% of former business owners regret selling their companies less than a year after the sale. What accounts for this seller’s remorse? The main reason is lack of preparation on the part of the business owner.
Tax-Planning Ideas in the Business Sector
Year-end tax planning is not restricted to individual taxpayers. Some astute moves by the owners or managers of a small business can also shave dollars off your tax bill. As it does with individual tax planning, uncertainty exists, but here are five practical ideas to consider in any event.
Every business is different, and, therefore, every business plan is different. But successful plans seem to have this much in common: They use foresight to meet the challenges of the upcoming year head-on and address both the strengths and weaknesses of the firm. Similarly, if a business has a skimpy plan—or even worse, no plan at all—the likelihood for real progress is diminished.
With so much focus in the news about debit and credit card fraud, it’s easy to overlook the rapidly growing economic crime of income tax refund fraud. It’s easy to think about it as something that happens only to other people, but the truth is, there are victims young and old, in every social and economic class, and it’s likely to have happened to someone you know.
Just in case you missed it, the Times Union ran a nice piece yesterday showing the results of the the 26th annual Business Climate Survey by Marvin and Co. and the University at Albany School of Business.
With everyone putting their tax information together these days just remember one thing about contributions...
Very interesting for all of those of you on non-profit boards and such:
This article is from the Journal of Accountancy:
In my last post I outlined some of the key changes brought about by the recent passage of New York's Marriage Equality Act. To provide you with even more information about this sweeping measure, here's a TV interview featuring Kevin McCoy, CPA, managing partner and myself at TV-17 in Colonie -- http://vimeo.com/28509226 Richard Naylor is the host. I hope you find it helpful!
It has been just over a month now since New York became the sixth state in the nation to allow same-sex couples to head to the altar to take their wedding vows.