4Thought Blog

Think Like a CFO: How Small Business Owners Can Boost Their Bottom Line

Small business owners wear lots of hats – in addition to your CEO duties, you may also handle your company’s operations, marketing and hiring. You might even shovel the sidewalks in the winter. A critical job responsibility that should always be on your mind is that which a CFO handles. Your company may not be…

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Do You Need to Pay Estimated Taxes? Guidance for McDonald’s Owner/Operators

The concept of having to pay taxes is often times more than enough to make one go cross-eyed. “I’ve worked really hard all year and I have to give how much to Uncle Sam!?!” Add to that the potential of being charged interest and penalties for not giving enough to the government periodically throughout the…

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New Jersey Taxpayers to Face Changes in Sales, Gas and Estate Taxes

New Jersey enacted major tax changes earlier this month, including a sales tax reduction, gas tax increase and plans to phase out state estate taxes by 2018. The state Legislature also increased exclusions for pension and retirement plan income and increased earned income tax credit. Get details on all the changes below, including the planned…

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Property Transactions Between Business Partnerships More Likely to be Taxed, IRS Rules

The IRS recently issued new guidance targeting strategies that are used to exploit the tax benefits associated with partnerships and limited liability companies (LLCs) that are treated as partnerships for tax purposes. In a nutshell, under the new guidance, property transactions between partners and partnerships are more likely to be classified as disguised sales and, therefore,…

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10 Times It’s Essential to Seek a Business Valuation

Most business owners are reactive when it comes to having their businesses valued. But it sometimes pays to be proactive. Some valuations are necessities, such as for determining the value of the business interest in an estate. Others are obtained for more elective reasons but are helpful to business owners nevertheless. It is a good…

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A Tax Tip for Family Businesses: Hire Your Kids

Here’s a great tax-saving idea for those who have teenagers who can work part-time in the family business – hire the kids as legitimate employees. This strategy works best if your business operates as: A husband-wife partnership (owned only by you and your spouse). A husband-wife Limited Liability Company (LLC), which is treated as a…

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5 Fourth Quarter Tax Planning Ideas Every CFO Needs

April 15 may be the day most associated with accountants, but great CPAs know the fourth quarter is the most important time of year. During the fourth quarter, business owners and CFOs can take action to minimize their tax impact come April 15 and evaluate budget and plans for the following year. Below are five…

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How Succession Planning Can Give Business Owners the Retirement They Want

The failure of successful family business owners to reach their personal goals, especially their financial goals, is not because they don’t try or care. In our experience, the main cause of failure is lack of clarity, a plan around the big picture, and a myopic pursuit of the “urgent.” There are 5.5 million family-owned businesses…

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How Manufacturers Can Strengthen Their Company’s Weakest Link

Let’s say your manufacturing company has slashed costs to the bone, boosted productivity and taken market share from competitors. But you still want to see some improvement. It’s time to find your weakest link and turn it into a strength. According to the theory of constraint management, you should look system-wide for that weak link.

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Offshoring Relationships: How Manufacturers Can Improve Quality Assurance

In the ever-expanding global economy, nothing about suppliers or distributors can be taken for granted. As illustrated by the numerous high-profile recalls that have occurred, manufacturers outsourcing to foreign countries must maintain quality control in their supply chains. According to the Consumer Product Safety Commission, many products recalled in the U.S. due to safety concerns…

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