4Thought Blog

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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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Buying a New Restaurant? Borrow Techniques from a Turnaround CFO

Growing your business is the primary focus of every entrepreneur. Whether growth occurs by way of increasing sales and cash flows at existing business divisions or via acquisition and expansion, the challenges faced are often strikingly similar. That being said, let’s examine for a moment the prospects and hurdles one will often face when buying…

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Construction Accounting: How to Determine the Best Method

As you may know, contractors have multiple accounting methods to choose from. But some are off-limits to certain contractors. As your construction company endures the ups and downs of a bumpy industry, it’s worth your while to review your options.

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Business Succession Planning: How to Start Your Exit Plan

The business world is in for a major generational shift – a recent survey found 79% of business owners plan to exit their businesses within the next 10 years. The survey, conducted by the Business Enterprise Institute and the Conway Center for Family Business, found more surprising statistics. Only 30% of family-owned businesses succeed in…

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Act Now to Cut Your 2018 Tax Bill

The Tax Cuts and Jobs Act (TCJA) created more than 100 new tax provisions — a staggering thought as you begin to prepare for the next filing season. The good news is that these and some of the surviving provisions create a wealth of year-end planning opportunities.

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Nonprofits & Debt: What to Weigh Before Borrowing Money

Debt is an integral part of the strategic plans of many organizations, yet it has traditionally carried a stigma in the nonprofit industry. That view is changing, as more organizations borrow money for major capital purchases, new program funding — even to manage current cash flow. But if you’re hoping to borrow funds, know that…

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