4Thought Blog

Taxes Won’t be Done by April? The Easy Way to get an Extension

Don’t think you can get your taxes done by April 18? Even the IRS says not to worry. The Internal Revenue Service reminded taxpayers this week that if they are unable to file their tax returns by this year’s April 18 deadline there is an easy, online option to get more time to complete their…

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Small Business Owners Can Still Save on Taxes by Establishing a Pension

Simplified Employee Pensions are stripped-down retirement plans intended for self-employed individuals and small businesses. If you don’t already have a tax-favored retirement plan set up for your business, consider establishing a SEP — plus, if you act quickly enough, you can claim a deduction for your initial SEP contribution on your 2016 tax return.

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Own a Business With Your Spouse? Check Out These Self-Employment Tax Reduction Strategies

If you own a profitable, unincorporated business with your spouse, you’re probably fed up with high self-employment (SE) tax bills. An unincorporated business in which both spouses are active is typically treated as a partnership that’s owned 50/50 by the spouses — or a limited liability company (LLC) that’s treated as a partnership for tax…

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How Much is My McDonald’s Restaurant Worth? A Valuation Primer

Whether you’re looking to buy a McDonald’s restaurant, sell a restaurant, gift some ownership to a Next Gen, or are just plain curious, the question of value is of primary concern. Ask any valuator worth their salt and he or she will tell you, valuation is an art, not a science. There is no black…

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How Businesses Can Save Federal Employment Taxes: Become an S Corporation

If you own an unincorporated small business, you may be getting fed up with high self-employment (SE) tax bills. One way to lower your SE tax liability is to convert your business to an S corporation. SE Tax Basics Sole proprietorship income as well as partnership income that flows through to partners (except certain limited…

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How Lehigh Valley Manufacturers Can Save on Construction and Equipment Purchases

While purchasing new equipment – or on a grander scale, a new facility – is generally a positive indicator for a manufacturer, it’s also a costly endeavor. It requires significant cash reserves, either to buy the equipment in the case of more minor purchases or to secure bank loans for larger purchases. But those don’t…

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CFOs Serving as Operating Partners Can Further Company Success

Some CFOs serve as their companies’ directors of operations or administration. But even if administration or operations aren’t your official duties, they’re still areas where CFOs can add value to their companies. Previously, we talked about the benefits of CFOs participating in strategic planning. But there are significant benefits to actively participating in your company’s daily…

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Restaurants, Retail & Real Estate: A Key Tax Deduction for Business Owners

The Section 179 deduction for qualified real property expenses was made permanent under the Protecting Americans from Tax Hikes (PATH) Act of 2015. However, claiming this deduction isn’t a no-brainer. Here are the pros and cons.

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Philadelphia’s Soda Tax – What McDonald’s Franchisees Need to Know

The City of Philadelphia’s Sugar Sweetened Beverage Tax became effective January 1, 2017. This is the first “soda” tax passed by a major city. The City passed the tax, estimated to generate over $90 million annually, in an effort to provide additional funding to schools, parks, recreation centers, and libraries. The new law defines two…

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Business Strategy 101 – Anyone Have an Extra Napkin?

Some of the best-laid company plans were created on the back of a napkin. Lots of scribbles and doodles, but in the end, that lunch time, strategy brain dump was like gold. And it all fit on “one page.” As businesses grow, leadership gets so engrossed in survival that they forget to stop, review, and…

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