Category Archives: Business

2012 Mileage Rate

Posted on January 22, 2012 by Melissa Clary

The IRS recently announced that the mileage rate for business driving in 2012 will be 55.5¢ a mile. The rate can be used for cars, vans, pickups, and panel trucks. Companies that don’t want to keep track of the actual … Continue reading →

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Some Business Meals are 100% Deductable

Posted on October 24, 2011 by Melissa Clary

How you account for meals can affect your business tax return.  One reason why: While you can generally deduct only half the cost of meals related to your business activities, the tax code includes specific exceptions that allow a deduction … Continue reading →

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Business Succession Planning

Posted on October 2, 2011 by Melissa Clary

Succession planning is very important for any business owner. Before you sit down with your tax and legal advisors to draw up a succession plan, you should think through three key issues: who do you want to succeed you, when … Continue reading →

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Should You Lease or Buy Business Equipment

Posted on June 20, 2011 by Melissa Clary

As a business owner you are often faced with the decision whether to buy or lease new business equipment. Many business owners first thought is to buy the equipment, but possibly leasing is preferable. * Conserving cash can be important. Purchases normally require a 10% … Continue reading →

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1099 Rules Repealed

Posted on May 23, 2011 by Melissa Clary

New law repeals the expanded Form 1099 reporting rulesOn April 14, 2011, President Obama signed legislation – the “Comprehensive 1099 Taxpayer Protection and Replacement of Exchange Subsidy Overpayments Act of 2011″ – repealing expanded reporting rules for businesses and landlords … Continue reading →

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5 Ways Your Accountant Can Help You Profit In a Down Economy

Posted on November 22, 2010 by Melissa Clary

In a down economy making good decisions is critical. These informed decisions should come from accurate financial numbers. Numbers determine which levers to pull to increase your profits. Businesses need to review and analyze their numbers periodically. Many business owners … Continue reading →

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Buy-Sell Agreements

Posted on October 25, 2010 by Melissa Clary

Who needs a buy-sell agreement? A buy-sell agreement is needed for every co-owned business.  Every day that value is added to the business increases the financial risk when this agreement isn’t in place.  Business owners often ask CPAs about how … Continue reading →

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Business Entity Selection

Posted on October 25, 2010 by Melissa Clary

Business Entity Selection When starting a business you must decide what type of business entity you are going to establish.    It is important to consider the legal and tax implications for the different types of entities before you make this … Continue reading →

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