4Thought Blog

How Small Businesses Can Now Qualify for the R&D Tax Credit

Does your small business engage in qualified research activities? If so, you may be eligible for a research tax credit that can now be used to offset your federal payroll tax bill. This relatively new privilege allows research credits to benefit small businesses that may not generate enough taxable income to use the credits to…

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Mobile Payment Apps: How Business Owners can be Protected from Electronic Fraud

As your business begins to accept more types of electronic payment methods including gift cards, pre-funded cards, delivery service credits and mobile payment apps, it becomes increasingly important to protect your bank accounts from electronic fraud.

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IRS Warns Taxpayers of New Scam Involving Phony Certified Letters

The IRS last week issued a warning about a new nationwide phone scam involving phony certified letters. The fraud attempts involve phone calls where the caller claims to be from the IRS and tells the victim about two certified letters sent to them in the mail but returned as undeliverable. The caller then threatens arrest…

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The American Health Care Act: What Business Owners Should Know

The health care debate in Washington is far from settled. President Trump this week called the American Health Care Act passed by the House in early May “mean” and Republican Senators are working on their own version of the bill. But it’s likely some portions of the AHCA will make it into the Senate bill….

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Landlord Taxes 101: How to Use Tax Deductions and What to Know When You Sell

Have you ever thought about becoming a landlord? This option may be tempting if your local real estate market is surging and rental rates are strong, especially if you’re already planning to relocate or downsize to a smaller home. Ideally, you’ll be able to shelter most or all of the rental income with tax deductions…

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Births, Deaths and Divorce: Seven Reasons to Update Your Will

Even if you have a valid will, you may need to draft a new one for a variety of reasons. A will is an essential part of planning for the future. But don’t think creating a will is a one-time proposition. Here are seven reasons to strongly consider updating your will:

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A Lucrative Tax Break for Manufacturers: The Domestic Production Activities Deduction

For qualified businesses, the Domestic Production Activities Deduction (DPAD) is one of the most lucrative tax breaks manufacturers can claim today — having doubled in value in 2007. It increased even more in 2010.

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Buy a Boat, Plus 9 Other Ways to Cut Taxes This Summer

Memorial Day marked the start of Summer 2017, but the forecast for Washington remains unclear as officials continue to discuss various tax-related issues. No matter what happens in Washington, don’t get stuck in a holding pattern yourself. Give some attention to business and personal tax planning this summer. Here are 10 ideas that combine tax…

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Improve Your Business Gross Profit Through Inventory Control

Controlling and monitoring your inventory is an essential part of maximizing gross profit. To control your inventory, you must have a system of checks, balances and procedures in place. Here are several inventory control techniques business executives should consider to help improve gross profit:

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Shorten Your Cash Conversion Cycle to Boost Your Business’s Bottom Line

Sufficient cash flow is incredibly important to the success of your business. It’s a critical metric in business health. The amount of available cash your business has on hand at any given time affects both your daily and long-term operations. Poor cash flow makes your day-to-day business operations more challenging and it also negatively affects…

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