Entries by David Auer

Why the Wayfair Ruling Matters for Sales Tax

Physical presence in a state no longer determines the sales tax that’s due. What does this mean for retail businesses? Sales tax is not always a straightforward topic for today’s retailers, especially with online retail booming and all of the uncertainties in the market due to differing state economic nexus laws. According to a Deloitte […]

How Business Partnerships Are Taxed

Working with a partner brings its own particular set of tax rules. Entrepreneurs should be aware of them to avoid penalties and risks A partnership is a particular type of business structure that has its own set of tax requirements. There are several benefits to forming partnerships, including the combined skills, knowledge, and resources of […]

Retirement Planning Tax Tips for Entrepreneurs

It’s never too soon to start planning for retirement. Tax minimization can be especially hard for entrepreneurs, who have to keep up with tax law and investment strategies while managing a business Even if you’ve been doing everything you can to plan for retirement, expenses can add up fast if you’re not prepared in every […]

How Technology Is Changing Professional Tax Preparation

Technology is altering every sector, and taxes are no exception. Big strides are being made to revolutionize the field, and more changes are on the horizon Tax professionals are tasked with updating their practices to meet changing technologies. As a taxpayer, what does this mean for your taxes? What’s already changed, and what can you […]

Why Mother Nature Is a Potential Tax Nightmare

Natural disasters can devastate more than the building your business operates from. They can also destroy your tax records. What recourse does your business have? If a disaster strikes and records are destroyed and assets lost, it could mean a major tax nightmare for your business. Tax obligations, including proof of loss, filing, and payment […]

Why Are So Many Tax Refunds Unclaimed?

More than a billion dollars is out there waiting to be claimed. Unfortunately, many businesses don’t know they may be entitled to a share of it Each year before tax time, the IRS announces the amount of unclaimed money it’s holding due to people not properly filing their tax returns. In early 2019, the IRS […]

The Entrepreneurial Operating System: Six Steps to Success

How working with a business advisor who lives by the EOS can benefit your business Running a business has ups and downs, wins and losses, good days, and, well, terrible days. You may often wonder why you started your own business, and sometimes why you didn’t do it sooner. These are all normal swings that […]

A Basic Tax Guide for Nonprofit Organizations

Nonprofits, while tax exempt, still have to file all the proper information with the IRS to clearly highlight their finances and programs It’s well-known that many nonprofit organizations are exempt from paying various federal income taxes under the IRS tax code section 501(c). However, this doesn’t mean that they have no responsibilities when tax time […]

What Businesses Should Know About Charitable Contributions

In a perfect world, all charitable donations by businesses would be tax deductible. Unfortunately, there are caveats that entrepreneurs must know It seems like tax law is always changing. As an entrepreneur, you’re tasked with keeping up so that your business follows all regulations while making sure you understand all of the tax breaks available […]

How the Tax Cuts and Jobs Act (TCJA) Impacts Small Businesses

Operating a small business is a challenge, and under-the radar tax changes can make things all the more complex. Here’s what entrepreneurs should know to avoid any costly mistakes In 2017, the Tax Cuts and Jobs Act (TCJA) was enacted, bringing changes for both businesses and individuals in the 2018 tax year and beyond. As […]