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Remote Employment 101: A Successful Compliance Structure

by Lisa Calick, Director of HR Advisory The number of remote workers has increased, and companies are going outside of normal state boundaries to find top talent. These quick changes have spotlighted the issues surrounding this employment relationship over the past two years. Throughout this series, we have highlighted some considerations that every business owner should pay attention to with remote employment. This final blog covers important compliance areas that should not be...

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What is the Angel Investor Credit Program?

What if there was a way to guarantee a return on an investment? If your business operates in one of the 29 states currently offering Angel Investor Tax Credit Programs, it may be possible.  These programs are popular avenues by which states incentivize innovation, job creation, and economic growth in their region and, in some instances, encourage the development of growing neighborhoods and minority-owned businesses. Parameters of angel investor credit programs vary drastically from...

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Can I Raise Cash Flow for My Small Business With Government Money?

There’s nothing worse than finding out you could’ve qualified for government funding after it’s too late, especially when your business is in its infancy and you could use all the cash you can get your hands on. Most of the founders we advise aren’t aware of the financial help that’s out there, or which programs are available for their business.  We introduce two specific opportunities for government funding that are important for startups to know about: national tax credits and...

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What did I do wrong? (Common traps small business owners can avoid)

If you’re like most founders, when you first begin the process of starting a company, you’re focused on being compliant in every way. You aim to build a business people want to invest in. But even with the best of intentions, you could overlook some rules that have big implications. Taxes are an area in which new small business owners make frequent mistakes. It’s not intentional, they’re usually just unaware.  Let’s talk about two specific tax-related errors many of our clients make...

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How can I take advantage of Qualified Small Business Stock?

In the early days of startup formation, it’s helpful to think years into the future — more than five years, to be exact. That’s the minimum term to which the Qualified Small Business Stock (QSBS) tax exemption applies. QSBS is a big incentive for structuring your U.S.-based business as a C corporation (or converting from an LLC) because it’s reasonable to assume your investors will someday want to exit. When they do, they could be looking to qualify for this huge tax break. What...

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Storytelling is Serious Business for Businesses Serious About Reaching Goals

Serious business people often think they have to stick to serious business facts to make their points. But introducing storytelling to presentations and meetings is an effective way to deliver a message to an audience rather than lecturing them. Think about your business goals and choose stories that support what you want to do right now. They have to be true, though. As with any other business skill, you can learn to tell stories. There are eight questions to ask yourself to help...

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Biden’s Announcement on Employer Vaccine Mandates

By Lisa Calick, Director, HR Advisory Employers have been grappling with whether to enforce vaccine mandates in their companies, however President Biden’s recent Executive Order may now take that decision out of their hands. Late last week, the President announced his multi-level strategy for combatting the continued spread of COVID-19 – a key piece of which includes sweeping vaccine mandates for many employers. The mandate for private employers affects those with 100...

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Tax Breaks for Casualty Losses

By Nicole DeRosa, CPA, MAcc, Senior Tax Manager Hurricane Ida has wreaked havoc since it made landfall in Louisiana just this past week and has since caused massive destruction for all things in its path as it traveled up the coast.  Between widespread power outages, flooding, fires, and more, the last thing on people’s minds (as it should be) is the tax implications of suffering a casualty loss but it’s important to know that (believe it or not) you could be eligible for...

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Get Ready to Apply for the Restaurant Revitalization Fund

By Ilya Brodetskiy, Ilya Brodetskiy, CPA, MST, Senior Tax Manager In January, Congress passed the American Rescue Plan Act of 2021, landmark legislation designed to help U.S. residents and businesses stay afloat in the midst of the ongoing coronavirus pandemic. One under-reported element of the plan is the establishment of the $28.6 billion Restaurant Revitalization Fund (RRF), to be administered by the U.S. Small Business Administration (SBA). This program will offer tax-free...

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PPP Loans Become More Favorable for Small Business, Other Important Updates

By Travis Miskowitz, Director, CFO Advisory The Paycheck Protection Program (PPP) became more favorable to small business as the Small Business Administration (SBA) in cooperation with the Department of Treasury, revised the loan calculation for sole proprietors, independent contractors, and those that are self-employed increasing their chances of obtaining a higher loan amount in contrast to existing guidance. Other important updates were included in two new pieces of...

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