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Have you seen the Chevrolet commercial where the boss tells a group of employees to "take a knee, team?" One young man drops into a quarterback kneel and the boss asks, "What's he doing?" With the rest of the group looking confused, the employee...

There can be negative tax consequences when purported loan payments are recast as corporate distributions to shareholders. In some cases, the courts have ruled that withdrawals from two closely held corporations were constructive corporate...

Some people think you can always deduct moving expenses on your federal income tax return. Not true. However, you can deduct some moving expenses if you meet the applicable eligibility rules. Good News, Bad News The good news is allowable moving...

The major U.S. card companies — including Visa, MasterCard, Discover and American Express — voluntarily imposed a shift of liability for counterfeit "card present" transactions that went into effect for most merchants on October 1, 2015....

Maybe it's a good thing that the April 15th federal tax deadline coincides with the urge to spring clean. It feels good to throw out some of the financial records stuffing your filing cabinets. But before you head for the dumpster, make sure you're...

For one reason or another, you may need to take some money out of an IRA before reaching retirement. You can withdraw money from an IRA at any time and for any reason, but it's important to keep in mind that most IRA withdrawals are at least...

Running a business these days is increasingly complex. With employment-related claims and lawsuits on the rise, management must have a basic understanding of numerous federal, state and local laws. Here are three cases that illustrate some employer...

The bane of every physician's practice is when payers deny claims. There are numerous reasons why payers deny claims, with the predominant reason being a paperwork error. Other reasons include misunderstanding on the part of the insurance company,...

Do you remember your first summer job? It doesn't matter if you were a babysitter, caddy, telemarketer or lifeguard. Your first job taught valuable lessons about responsibility and balancing work with family and friends. It also helped keep you out...

Many business owners fail to follow the strict tax rules for substantiating vehicle expenses. But if your business is audited, the IRS will most likely ask for mileage logs if you deducted vehicle expenses — and it tends to be especially...

Whether the economy is cold or hot, some individuals and organizations wind up filing for Chapter 11 bankruptcy. If you stay in business long enough, some of their names will likely appear on your accounts receivable list. When that happens, don't...

Congress originally devised the alternative minimum tax (AMT) rules to ensure that high-income individuals who take advantage of multiple tax breaks will owe something to Uncle Sam each year. In recent years, however, that concept has eroded. Now,...

Making donations to charities is more than good business citizenship. It can also lower your tax liability. Some lesser-known federal income tax breaks for charitable donations by businesses were retroactively reinstated and made permanent by the...

The IRS kicked off tax filing season by publishing a series of press releases that highlight the "dirty dozen" tax scams for this year. Although there are no major surprises, it's important to note that these scams have become increasingly...

By nature, most people avoid planning for crisis situations. After all, there is so much to do in the here and now without trying to second guess the future. Business leaders are no exception when it comes to the often thankless task of...

Many small businesses prepare -- and regularly update -- a strategic plan, but many overlook this important task. Whether your business falls into the "have" or a "have-not" category, a strategic plan can be an invaluable resource to help your...

If there's one thing that can harm the success of a medical practice, it's having patients spending too much time in the waiting room. Appointment scheduling is a critical function of a doctor's office, yet many practices schedule in a seemingly...

If you plan to hire new employees this year, you're not alone. Employment statistics ended 2015 on a positive note. In addition, roughly 242,000 new jobs were added in February and the unemployment rate fell to 4.9%, its lowest level in eight...

Would you use a complicated discounted cash flow analysis to estimate the value of a mom-and-pop restaurant? How about using a price-to-earnings multiple derived from publicly traded restaurant chains? Neither method seems appropriate for a small...

Many people itemize deductions on Schedule A of their tax returns, rather than taking the standard deduction. Your tax preparer will generally advise you to do so if your allowable itemized deductions exceed the standard deduction. Most itemized...