In the News

Copyright 2021
Tax season has started. Your tax professional is ready to prepare your 2020 federal and state returns — but are you ready? The pandemic has led to several changes to the tax rules for last year. Here's a summary of four taxpayer friendly changes that may affect your 2020 federal income tax return.
Copyright 2021
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 haphazard fashion. Often, the practice's scheduling strategy, if you want to call it that, is to fill an appointment into any slot available with little regard for the reasons patients are being seen.
Copyright 2021
If you're like most manufacturers, your on-time delivery rate could use some improvement. This is most critical in a just-in-time environment. But it can be an issue for every manufacturer in terms of building customer satisfaction and maintaining a competitive edge.
Copyright 2021
Let's say you're an electrical contractor. One of your employees bumps into an unoccupied scaffold on a construction site and destabilizes it. Which actions should you take to ensure the safety of workers and avoid liability?
Copyright 2021
Athletes say "no pain, no gain." The expression also applies to not-for-profit organizations. The point when the growing pains of an organization begin are prompted less by age than by changes in leadership, size, budget or programming. For example, a small nonprofit may receive national media attention that garners a significant, new source of funds. Or a founder may decide to hire an executive director and administrative staff.
Copyright 2021
When you got married, you knew it was for "better or worse." But you might not know about laws that hold you responsible if your spouse cheats on a tax return.
Copyright 2021
The U.S. Department of Labor's Wage and Hour Division (WHD) recently issued news releases announcing judgments against five companies investigated for various violations of laws and regulations.
Copyright 2021
When one door closes, another opens. The COVID-19 pandemic has forced many small businesses to permanently shutter. But it has also provided new opportunities, especially for gig economy workers and other sole proprietors who were laid off or furloughed during the pandemic. (See "Start-Up Hot Spots," at right.)
Copyright 2021

This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business decreased by one-and-one-half cents, to 56 cents per mile. As a result, you might claim a lower deduction for vehicle-related expenses for 2021 than you could for 2020 or 2019. This is the second year in a row that the cents-per-mile rate has decreased.

Copyright 2021

A number of tax-related limits that affect businesses are annually indexed for inflation, and many have increased for 2021. Some stayed the same due to low inflation. And the deduction for business meals has doubled for this year after a new law was enacted at the end of 2020. Here’s a rundown of those that may be important to you and your business.

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