4Thought Blog

Multi-State Businesses: How to Know if You Owe Taxes (Video)

If you do business in more than one state, there’s a good chance you may owe taxes in another state. Instead of being issued a jeopardy assessment, it’s best to work with an experienced CPA and be proactive.

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Estate Planning: How to Save Taxes using the Generation-Skipping Transfer Tax

Beneficial rules for the generation-skipping transfer (GST) tax are currently in force, which may allow you to pass on assets to future generations without a federal tax bill. GST Tax Basics When it comes to arranging for gifts and bequests to loved ones, most planning strategies focus on avoiding or minimizing the federal gift and…

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10 Financial Resolutions to Boost Business in 2019

New Year’s is traditionally a time to make resolutions for the upcoming months. Once you set your personal goals, it’s time to get serious about your business goals. Here are 10 resolutions you might consider making — and sticking to — to put you on track to prosper in 2019.

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Lean Business, Accounting Processes to Gain Capacity (Video)

Lean experts with accounting experience can help improve internal controls and identify where companies are losing money through inefficiencies.

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Nonprofit Consolidation: The Pros and Cons and How to Do It

It doesn’t happen often, but sometimes nonprofit organizations merge or are incorporated into one another. For example, your nonprofit may be contemplating an acquisition of a smaller organization or perhaps you may be merged into a larger organization. In either event, this represents a significant change for managers both personally and professionally. What causes nonprofit…

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Manufacturers: Are you Ready to Start Exporting?

If your company would like to tackle the international market, it’s time to evaluate your chances of success. Manufacturing firms that successfully make the leap generally tend to have a firm domestic base, strong reputations and a quality product. A solid track record is also essential before expanding abroad. But there’s more to it than…

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Estate Planning: How to Set up a Private Foundation to Save Taxes

Are you interested in setting up a private foundation? With this approach, you make contributions to a foundation and get a charitable tax deduction just as you would with any qualified organization. Then, as the director, you decide which charities you want to make distributions to so you retain control of the assets.

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Construction Companies: How to Avoid IRS Problems from Using Independent Contractors

Chances are, your construction business hires subcontractors, rather than employees, to perform some of the work. These arrangements obviously save your company a lot of time, money and headaches. Take a look at some of the recordkeeping and financial differences:

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Gift of MAGI? Tax planning can help!

The IRS has announced its 2019 cost-of-living adjustments to tax items that might affect you. Many of the amounts increased to account for inflation, but some remained at 2018 levels. As you implement 2018 year-end tax planning strategies, be sure to take these 2019 adjustments into account in your planning.

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Save More. IRS Approves Larger Retirement Contributions

Did you know that you will be able to contribute more to your 401(k), IRA and other types of qualified retirement accounts in 2019? The IRS recently published annual cost-of-living adjustments to these accounts. Many limits have increased, including the amount you’re allowed to contribute to a traditional IRA account, which last increased in 2013. Here’s…

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