4Thought Blog

2019 Year-End Strategies to Reduce AGI

Reducing your current-year adjusted gross income is usually a tax-smart idea. Here are 10 ways to reduce your AGI (and modified AGI) over the short and long run. Closeup on AGI AGI equals all taxable income items minus selected deductions for such items as deductible IRA and retirement plan contributions and alimony payments required by…

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Top Tax Reform Business Opportunity: Switching to a C Corp

Did you feel like your taxes were minimized last year? If not, it’s possible you may have missed out on some opportunities. Federal tax reform through the Tax Cuts and Jobs Act provided some of the best tax benefits to businesses in more than 50 years. The corporate tax rate was slashed from the graduated…

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New Lease Accounting Rules Delayed for Private Businesses

There’s some welcome news for businesses that use GAAP (Generally Accepted Accounting Principles) for their financial statements. There is now a year delay on implementing fairly cumbersome new lease accounting standards. The Financial Accounting Standards Board (FASB) voted last month to delay ASC 842 Leases, a standard requiring the capitalization and debt of virtually all…

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McDonald’s Franchisees: Be Aware to Combat Employee Fraud

Hardworking employees are to be treasured and valued for the contributions they make to your restaurants, but unfortunately as any experienced restaurant owner knows, not every employee is earnest. Employee fraud is regrettably commonplace in many businesses. Near our office in St. Petersburg, Fla., there was a recent case involving a Dunkin’ doughnut shop manager…

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2019 Year-End Tax Savings Strategies for Businesses

It’s hard to believe 2019 is almost over! It’s been a busy year in many sectors, often forcing small business owners to put tax planning on the back burner while they’ve tended to daily business operations. But procrastinate no longer. Consider the following moves to lower your 2019 business tax bill before ringing in the…

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2019 Year-End Tax Savings Strategies for Businesses

It’s hard to believe 2019 is almost over! It’s been a busy year in many sectors, often forcing small business owners to put tax planning on the back burner while they’ve tended to daily business operations. But procrastinate no longer. Consider the following moves to lower your 2019 business tax bill before ringing in the…

Full article

2019 Year-End Tax Savings Strategies for Businesses

It’s hard to believe 2019 is almost over! It’s been a busy year in many sectors, often forcing small business owners to put tax planning on the back burner while they’ve tended to daily business operations. But procrastinate no longer. Consider the following moves to lower your 2019 business tax bill before ringing in the…

Full article

2019 Year-End Tax Savings Strategies for Businesses

It’s hard to believe 2019 is almost over! It’s been a busy year in many sectors, often forcing small business owners to put tax planning on the back burner while they’ve tended to daily business operations. But procrastinate no longer. Consider the following moves to lower your 2019 business tax bill before ringing in the…

Full article

2019 Year-End Tax Savings Strategies for Businesses

It’s hard to believe 2019 is almost over! It’s been a busy year in many sectors, often forcing small business owners to put tax planning on the back burner while they’ve tended to daily business operations. But procrastinate no longer. Consider the following moves to lower your 2019 business tax bill before ringing in the…

Full article

2019 Year-End Tax Savings Strategies for Businesses

It’s hard to believe 2019 is almost over! It’s been a busy year in many sectors, often forcing small business owners to put tax planning on the back burner while they’ve tended to daily business operations. But procrastinate no longer. Consider the following moves to lower your 2019 business tax bill before ringing in the…

Full article