CPA Blog

6 key elements of a business budget

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Published: Wednesday, 04 September 2024 11:20

Written by Phillip Strickler, CPA.CITP

Every business needs a budget, but not every budget looks the same. Some companies have intricately detailed ones, others rely on simple templates generated with off-the shelf software, and still others forego formal budgets in favor of a “fly by the seat of your pants” approach. (That last option isn’t recommended.)

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6 tax-free income opportunities

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Published: Tuesday, 03 September 2024 11:12

Written by Phillip Strickler, CPA.CITP

Believe it or not, there are ways to collect tax-free income and gains. Here are some of the best opportunities to put money in your pocket without current federal income tax implications:

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Brand audits can help companies in a variety of ways

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Published: Wednesday, 28 August 2024 10:44

Written by Phillip Strickler, CPA.CITP

A strong brand can help boost revenue, while a weaker one may reduce sales opportunities and stifle growth.

Like many business owners, you’ve probably spent considerable time and energy crafting your company’s brand. Doing so has likely involved coming up with a memorable business name and logo, communicating with customers in a distinctive manner, and, above all, building a strong reputation in your market.

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Are you liable for two additional taxes on your income?

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Published: Tuesday, 27 August 2024 11:24

Written by Phillip Strickler, CPA.CITP

Having a high income may mean you owe two extra taxes: the 3.8% net investment income tax (NIIT) and a 0.9% additional Medicare tax on wage and self-employment income. Let’s take a look at these taxes and what they could mean for you.

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