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    • Cassady Schiller CPAs & Advisors
      Nov 13, 2019 | Cassady Schiller CPAs & Advisors

      It’s not too late to trim your 2019 tax bill

      Fall is in the air and that means it’s time to turn your attention to year-end tax planning. While several clear strategies and tactics emerged during the first tax filing season under the Tax Cuts and Jobs Act (TCJA), 2019 and subsequent years bring potential twists that must be considered, too….

    • Cassady Schiller CPAs & Advisors
      Nov 12, 2019 | Cassady Schiller CPAs & Advisors

      At the very least, Update the Financials in your B...

      Every new company should launch with a business plan and keep it updated. Generally, such a plan will comprise six sections: executive summary, business description, industry and marketing analysis, management team description, implementation plan, and financials.
      Now, ideally, you would comprehens…

    • Cassady Schiller CPAs & Advisors
      Nov 12, 2019 | Cassady Schiller CPAs & Advisors

      Selling Securities by Year End? Avoid the Wash Sal...

      If you’re planning to sell assets at a loss to offset gains that have been realized during the year, it’s important to be aware of the “wash sale” rule.
      How the rule works
      Under this rule, if you sell stock or securities for a loss and buy substantially identical stock or securities back wi…

    • Emilie Schwarz
      Oct 30, 2019 | Emilie Schwarz

      Recessions: Breaking Down the Buzz

      If you’ve listened to the news the past two years, you may have heard speculation on when the next recession will be. Commentators are looking for signs as to when the recession will start and making predictions for how it will impact the markets. Since recessions are notoriously hard to forecast,…

    • Brian Stautberg
      Oct 30, 2019 | Brian Stautberg

      Accelerate Depreciation Deductions with a Cost Seg...

      Is your business depreciating over a 30-year period the entire cost of constructing the building that houses your operation? If so, you should consider a cost segregation study. It may allow you to accelerate depreciation deductions on certain items, thereby reducing taxes and boosting cash flow. An…

    • John Eberhart
      Oct 30, 2019 | John Eberhart

      Normalization Adjustments are Essential in Valuati...

      Fine-tuning financial statements helps a business valuation expert compare the subject company’s performance to the financial performance of similar public or private companies. In turn, normalization is critical when gauging risk, estimating future earnings, quantifying valuation discounts and se…

    • Cassady Schiller CPAs & Advisors
      Oct 28, 2019 | Cassady Schiller CPAs & Advisors

      Reasons Why Cash is King

      In financial reporting, investors and business owners tend to focus on four key metrics: 1) revenue, 2) net income, 3) total assets and 4) net worth. But, when it comes to gauging short-term financial performance and creditworthiness, the trump card is cash flow.
      If a business doesn’t have enough…

    • Cassady Schiller CPAs & Advisors
      Oct 25, 2019 | Cassady Schiller CPAs & Advisors

      Deciding Whether a Merger or Acquisition is the Ri...

      Merging with, or acquiring, another company is one of the best ways to grow rapidly. You might be able to significantly boost revenue, literally overnight, by acquiring another business. In contrast, achieving a comparable rate of growth organically — by increasing sales of existing products and…

    • Cassady Schiller CPAs & Advisors
      Oct 24, 2019 | Cassady Schiller CPAs & Advisors

      Setting up a Health Savings Account for your Small...

      Given the escalating cost of employee health care benefits, your business may be interested in providing some of these benefits through an employer-sponsored Health Savings Account (HSA). For eligible individuals, HSAs offer a tax-advantaged way to set aside funds (or have their employers do so) to…

    • Cassady Schiller CPAs & Advisors
      Oct 23, 2019 | Cassady Schiller CPAs & Advisors

      The U.S. Department of Labor Finalizes the new Ove...

      The U.S. Department of Labor (DOL) has released the finalized rule on overtime exemptions for white-collar workers under the Fair Labor Standards Act. The rule updates the standard salary levels for the first time since 2004. While it is expected to expand the pool of nonexempt workers by more than…

    • Cassady Schiller CPAs & Advisors
      Oct 22, 2019 | Cassady Schiller CPAs & Advisors

      Six Ways to Ensure your Marketing Plan Drives Sale...

      Love and marriage,” goes the old song: “…You can’t have one without the other.” This also holds true for sales and marketing. Even the best of sales staffs will struggle if not supported by a well-researched and carefully executed marketing plan. Here are six ways to ensure your marketing…

    • Cassady Schiller CPAs & Advisors
      Oct 17, 2019 | Cassady Schiller CPAs & Advisors

      Understanding and Controlling the Unemployment tax...

      As an employer, you must pay federal unemployment (FUTA) tax on amounts up to $7,000 paid to each employee as wages during the calendar year. The rate of tax imposed is 6% but can be reduced by a credit (described below). Most employers end up paying an effective FUTA tax rate of 0.6%. An employer…

    • Cassady Schiller CPAs & Advisors
      Oct 08, 2019 | Cassady Schiller CPAs & Advisors

      The Chances of an IRS Audit are low, but Business...

      Many business owners ask: How can I avoid an IRS audit? The good news is that the odds against being audited are in your favor. In fiscal year 2018, the IRS audited approximately 0.6% of individuals. Businesses, large corporations and high-income individuals are more likely to be audited but, overa…

    • Cassady Schiller CPAs & Advisors
      Oct 07, 2019 | Cassady Schiller CPAs & Advisors

      Take Advantage of the Gift Tax Exclusion Rules

      As we head toward the gift-giving season, you may be considering giving gifts of cash or securities to your loved ones. Taxpayers can transfer substantial amounts free of gift taxes to their children and others each year through the use of the annual federal gift tax exclusion. The amount is adjust…

    • Cassady Schiller CPAs & Advisors
      Oct 07, 2019 | Cassady Schiller CPAs & Advisors

      IRS Issues Final QBI Real Estate Safe Harbor Issue...

      Earlier this year, the IRS published a proposed safe harbor giving owners of certain rental real estate interests the opportunity to take advantage of the qualified business income (QBI) deduction. The QBI write-off was created by the Tax Cuts and Jobs Act (TCJA) for pass-through entities. The IRS…

    • Cassady Schiller CPAs & Advisors
      Oct 05, 2019 | Cassady Schiller CPAs & Advisors

      Internal Audit 2.0: Paperless and Continuous Audit...

      Technology is altering the traditional approach to internal audits. Instead of reviewing reams of paperwork, today’s auditor is learning to use electronic records. In turn, going paperless facilitates a concept known as “continuous auditing,” where internal auditors continually gather data to…

    • Cassady Schiller CPAs & Advisors
      Oct 01, 2019 | Cassady Schiller CPAs & Advisors

      When is tax due on Series EE Savings Bonds?

      You may have Series EE savings bonds that were bought many years ago. Perhaps you store them in a file cabinet or safe deposit box and rarely think about them. You may wonder how the interest you earn on EE bonds is taxed. And if they reach final maturity, you may need to take action to ensure ther…

    • Cassady Schiller CPAs & Advisors
      Oct 01, 2019 | Cassady Schiller CPAs & Advisors

      Does your Team know the Profitability Game Plan?

      Autumn brings falling leaves and … the gridiron. Football teams — from high school to pro — are trying to put as many wins on the board as possible to make this season a special one.
      For business owners, sports can highlight important lessons about profitability. One in particular is that you…

    • Cassady Schiller CPAs & Advisors
      Sep 30, 2019 | Cassady Schiller CPAs & Advisors

      IRS Provides Additional Guidance on Bonus Deprecia...

      The IRS has released final regulations and another round of proposed regs for the first-year 100% bonus depreciation deduction. The Tax Cuts and Jobs Act (TCJA) expanded the deduction to 100% if the qualified property is placed in service through 2022, with the amount dropping each subsequent year…

    • Cassady Schiller CPAs & Advisors
      Sep 30, 2019 | Cassady Schiller CPAs & Advisors

      How to Treat your Business Website Costs for tax P...

      These days, most businesses need a website to remain competitive. It’s an easy decision to set one up and maintain it. But determining the proper tax treatment for the costs involved in developing a website isn’t so easy.
      That’s because the IRS hasn’t released any official guidance on these…