4Thought Blog

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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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Calculation or Valuation Engagements – Which is Best for Your Business?

When it comes to business valuations, not all valuation reports are created equal. In fact, the professional standards for both the American Institute of Certified Public Accountants and National Association Of Certified Valuation Analysts specify two distinct types of valuation engagements: a calculation engagement and a valuation engagement. While the reports produced by both engagements…

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Still Time to Lower Your Personal Tax Bill

Have you thought about your personal tax situation for 2018? In addition to reviewing the adequacy of your payroll withholdings and estimated tax payments, there’s still time to employ some tax-savvy moves that could potentially decrease this year’s tax bill. Tax reform legislation has changed the rules of the game, so it’s important to discuss…

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Tax Moves for 2018: Act Now! Time’s Running Out!

The passage of the Tax Cuts and Jobs Act (TCJA) in late 2017 brought significant changes to the tax landscape. As the first tax season under the law looms on the horizon, new year-end tax planning strategies are emerging. Meanwhile, some of the old tried-and-true strategies have changed and others remain viable.

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Cash Management & Obtaining Financing: What Every Manufacturer Should Know

Cash flow is the lifeblood of every manufacturing company. While many business practices factor into your company’s cash flow, two are especially important: cash management and obtaining outside financing. Effective and efficient cash management practices can help best administer the money coming in and out of your business. And bank loans can sometimes be necessary…

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