Tax Rules When Selling Your Home
How the gains from the sale of a primary residence are taxed has changed in recent years. If you have recently sold your home, or are considering doing so, you may want to be aware of the current rules. Home Sale If you owned and lived in your home for two of the last five…
How to Prepare for the Probable Demise of LIBOR
The London Interbank Offered Rate (LIBOR) has served as the primary reference rate for various types of adjustable-rate financial products for decades. However, its role as the finance industry’s reference rate may soon diminish in favor of a U.S.-based alternative. What is LIBOR, and why might it disappear? The Basics Unlike fixed interest rates, adjustable…
Successful Law Firm Branding Strategies
While brand identity was once considered a viable marketing technique solely for product-based businesses, in the 21st Century it has rapidly evolved to include service firms as well. And while many law firms were initially reluctant to jump on the bandwagon, today, branding has become a central concept of most managing partners’ marketing strategies. Here…
Stay on Top of Your Business Credit Rating
These days, anyone looking to form a new business relationship — especially one that involves credit — is wise to check out the risk involved first. Various parties might be checking out your company’s credit rating to determine whether they want to do business with you. That’s why, just as with your personal credit report,…
It’s Not Too Late for Some Business Owners to Lower Their 2018 Taxes
Most businesses will owe less tax for the 2018 tax year than they would have under prior law, thanks to changes brought by the Tax Cuts and Jobs Act (TCJA). But have you done everything possible to lower your business tax bill for last year? Even though 2018 is in your review mirror, there are…
If Adopted, Overtime Pay Rules May Expand to More Employees
Today (and since 2004) salaried employees who earn at least $455 per week aren’t eligible for overtime pay under the Fair Labor Standards Act, if their job duties are executive, administrative or professional (EAP) in nature. That’s true no matter how many hours these employees work in a week. Under proposed regulations, the limit would…
5 Last-Minute Ideas to Lower Your 2018 Taxes
It’s almost Tax Day! But don’t despair; there still may be time to make some moves that will save taxes for your 2018 tax year. Here are five tax-saving ideas to consider. 1. Choose to Deduct State and Local Sales Taxes If you live in a jurisdiction with low or no personal income tax or…
Develop a Strong Hand to Negotiate Loan Covenants
If you are about to ask for a business loan, expect to deal with the issue of covenants — constraints lenders impose on your company to keep it operating within specified financial ratios and to prevent it from taking certain actions. These clauses are meant to help the lender mitigate risk and get its money…
Two Important Laws: Does a Contractor Have to Follow Them?
Regulations are unquestionably mandatory. There are two important laws that federal contractors and subcontractors must be aware of: The Davis-Bacon Act applies to U.S. Government contracts in excess of $2,000 for the construction, alteration or repair (including painting and decorating) of public buildings or public works in the United States. (40 U.S.C. – 3141 et…
Cut Workers’ Comp Costs: 9 Tips
Workers’ Compensation: It’s always a potential threat for large losses. And when Workers’ Comp costs get out of control, it can become a challenge to reduce them. Accept the challenge to reduce Workers’ Comp costs, or to hold down already low Workers’ Comp costs. How? Here are some strategies to help you and your business…