January 1, 2020--Volume 19, No. 1
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Get Ready for Federal, State, and Local Changes in 2020
To paraphrase Bob Dylan, the rules are a-changin’ and businesses should prepare for new government rules and regulations. Here are some things to look for and determine whether they impact your business. Be sure to implement the changes as necessary.
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Taxes: Yesterday, Today, and Tomorrow Following the Spending Measure
The massive spending measure (December tax package), Further Consolidated Appropriations Act, 2020 (
H.R. 1865), which was signed into law on December 20, 2019, makes an estimated
$426 billion in tax cuts. Some of these tax cuts relate to 2018, for which returns have already been filed. Some relate to 2019, which will come into play when returns for this year are filed in the 2020 tax season. And some don’t kick in until 2020 or beyond.
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J.K. Lasser's Small Business Taxes 2020
For more than 25 years, I’m proud to say my tax book for small businesses has been the go-to guide for owners and their tax advisors. The 2020 edition for preparing 2019 returns as well as tax planning for 2020 has been updated to incorporate new laws, court decisions, and IRS pronouncements. As has been my practice, I’ve written my own book review to explain the purpose of the book, what’s new, and what’s ahead.
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Developing Leadership Qualities: Optimism
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J.K. Lasser's Guide to Self-Employment, Second Edition
The number of self-employed individuals is growing substantially. FreshBooks’ Women in the Independent Workforce, 2nd annual
report says that between 10 and 12 million women are expected to join the independent workforce in America over the next 5 years. ... My latest book, which is a revision of one published in 2013, is intended to help self-employed individuals understand back-office obligations, including taxes, banking, and insurance.
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Self-Audit Your 401(k) Plan
If you have a 401(k) plan, even one covering only you (“self-only 401k”), be sure that you are operating in accordance with government rules. The failure to comply fully can result in penalties or, even worse, loss of plan qualification so that all benefits become immediately taxable. Here's a check list you can use ...
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4 Ways Employers Can Be More Socially Responsible
How important is it for a company to be socially responsible? Very important. It’s been shown that corporate social responsibility (CSR) increases brand reputation, which in turn, increases profits. CSR is now the
chief purpose of corporate America.
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10 New Year's Resolutions
While few keep them, it doesn’t stop us from making them every year. Here are my 10 favorites for business owners. (This is an expanded version of an
earlier post.)
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When, Why, and How to Hold Your Annual Board Meeting
One of the requirements for corporations in most states is to have an annual board meeting. Typically, these are held near the end of the year to address certain matters for the coming year. Here are some reasons you need to hold your meeting, what should be discussed, and how to conduct the meeting.
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The New Tax Books for the 2020 Filing Season Are Here!
This is
the small business owner's ultimate guide to a money-saving, stress-free tax season.
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This is the complete and thorough guide to reducing your tax burden. By listing every possible deduction and credit available to individual taxpayers, this book can help you achieve substantial savings on your 2019 tax return.
Remember,
both of these books include e-supplements covering additional developments from Congress and the IRS to keep you fully up-to-date.
The 2020 Edition is available for purchase
from Amazon.
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What every self-employed person needs to know about their taxes!
This second edition helps you file your taxes correctly, accurately, and on time.
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Check Out this Simple 2020 Tax Calendar for Your Business
Keep your eye on this 2020 tax calendar. Otherwise you may miss any deadlines that could trigger penalties. Or cause the loss of time-saving opportunities.
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Steps to Take Before You Prepare Your Taxes
Use these tips to make your tax preparation as smooth as possible.
The federal government estimates that 60% of individuals use paid preparers to complete and submit their tax returns. If you are one of these people, it is important to start preparing your documents right away to expedite your tax return.
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10 Things to Do to Close Out Your Year
In the final days of December, here are some actions that can help you comply with the law, obtain tax benefits, and position yourself for 2020.
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An eBook for Ride-Sharing Drivers!
Harvey Bezozi and I created an e-Book for Uber and Lyft drivers as the GPS to help them get where they want to go in their business, safely and securely.
Note: This is a newly-updated version.
You can find
The Uber/Lyft Drivers Tax & Business Guide, Kindle Edition, on
Amazon today!
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