28December
2017
The Benefits of Leasing

If your company wants to improve cash flow, you might consider leasing equipment, vehicles and facilities, rather than buying. The primary advantage of leasing used to be the tax advantages. But the fact that leasing allows you to conserve cash makes it a form of financing. It’s not an alternative that works for every company so you should consult with a professional to help you compare leasing versus owning. Almost any asset can be leased these days, from aircraft to oil wells, but leasing usually involves vehicles, heavy equipment, computers and other office equipment. Leasing can be a good option…

28December
2017
Do You Over-Manage and Under-Lead?

Managers and leaders are two different animals, but every organization has both. If you want to see better results in your business, train all your managers to step out of their current roles and into a leadership mindset. Check the list below to see how your people measure up on the leadership scale: Managers… Leaders… Believe they must catch people doing             something wrong.                                                      Catch people doing things right. Generate laws that create more need for cops.        Create a culture that controls behavior. Provide instructions. Provide vision. Focus on the short term. Envision the future. Control…

28December
2017
Choosing Among the Children

You look forward to the day when you can hand over the reins of the family business to the next generation and enjoy retirement. Or do you? Sometimes, family businesses have two or more children in line to take charge and sibling rivalry erupts. Too often the matter is not discussed because it seems impossible to resolve and requires difficult decision-making. But avoidance isn’t the answer. Engage in honest discussions at specified intervals — quarterly, monthly or even weekly if necessary. Encourage open communication, keep interruptions to a minimum and be sure all concerns are aired. If you’re lucky, you’ll…

28December
2017
Landmark Tax Reform Bill Passes

The new tax reform law — commonly referred to as the “Tax Cuts and Jobs Act” (TCJA) — is the most significant tax legislation in decades. Now businesses and individuals are trying to digest the details and evaluate how the changes will impact their tax situation. Fortunately, your tax advisors can help you figure things out. Let’s start with a basic overview of what’s covered in the new law. (Except where noted, these changes are effective for tax years beginning after December 31, 2017.) For Businesses  In general, the law significantly reduces the income tax rate for corporations and eliminates the corporate alternative minimum tax…

28December
2017
How Might the New Tax Reform Law Affect You?

President Trump and Republican members of Congress say the Tax Cuts and Jobs Act (TCJA) will bring $3.2 trillion in tax cuts. Now that the bill has passed, everyone wants to know how much they’ll save. Unfortunately, the tax bill won’t be good news for everyone. Here’s a comparison of how tax results for a typical family of four might be affected by the tax law changes, which generally are effective for tax years beginning after December 31, 2017. Taxes Due in 2017 Meet the Smiths. They’re a family with two married parents and 18-year-old twins. Their adjusted gross income (AGI) for 2017…