4Thought Blog

Tax Reform Mostly Increases Depreciation Opportunities for McDonald’s Franchisees

Federal tax reform through the Tax Cuts and Jobs Act provides many new tax benefits to McDonald’s Owner/Operators, including some major depreciation changes, most of which are beneficial, as we interpret the tax law changes. Under the new act, Bonus Depreciation is increased from 50% to 100% for qualifying property. The new provision also expands…

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Construction Companies: Tips to Keep Cash Flow High During Busy Season

Everyone struggles to keep up when business really takes off. Projects come all at once. You may hire additional field workers to meet the demand. Payroll is stretched because payments which come in on your new projects lag months behind the large sums you lay out weekly to pay your workers. This type of project…

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Hire Your Kids for Greater Savings Post Tax Reform

Summer jobs can be an effective way to teach children about financial responsibility, encourage them to save for college or retirement, and provide them with spending money during the school year. If you own a business, consider hiring your child (or grandchild) as a legitimate employee. It can be a smart tax-saving strategy for employee…

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Financial Statements: 5 Key Indicators Business Executives Should Analyze

Don’t just file away your company’s financial statements. There’s a lot business executives can learn by reviewing their financial statements – including their balance sheet and cash flow statement – in detail. Below are five key indicators from your company’s financial statements every business executive should analyze for greater business insight:

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Nonprofits, Closely-Held Businesses Continue to be Employee Fraud Victims, Study Finds

Would you leave the front door unlocked to your closely-held business or nonprofit organization? Of course not. That would give thieves easy access to your assets. Yet a surprising number of organizations don’t have strong antifraud controls in place to protect against dishonest people inside their organizations. And theft from insiders — also referred to…

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How to Save Taxes while on Vacation, Hosting Employee Parties

Federal tax reform through the Tax Cuts and Jobs Act may have put a crimp in some of your summer plans by eliminating or scaling back certain tax breaks. But individuals and small business owners still have plenty of opportunities to save taxes. Here are six ideas to consider this summer.

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In Line to Take Over the Family Business? Start Preparing Now to Beat the Odds

The odds are pretty staggering – only 30% of family-owned businesses succeed in transitioning their business to the second generation. For those transitioning to a third generation, the odds are even worse – only 10% succeed. There’s a way to beat the odds – prepare. The best business transition plans happen over many years, both…

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Tax Reform: Ways to Maximize the New QBI Deduction, Bonus Depreciation

Federal tax reform through the 2017 Tax Cuts and Jobs Act (TCJA) provided some of the most significant tax-saving opportunities for businesses in more than 30 years. While the lower 21% tax rate for C Corporations garnered much of the attention, small businesses also received some advantageous new benefits. The challenge is that some of…

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Manufacturers: Manage Equipment Assets for Increased Savings, Productivity

As manufacturers look for every opportunity to cut costs, one important area to address is equipment downtime. A breakdown, even for just an hour, reverberates through the manufacturing process.

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Vacation Rental Homeowners: The Tax and Deduction Rules (Video)

During the summer, taxpayers often rent out their property. They usually think about things such as cleanup and maintenance, but owners also need to be aware of the tax implications of residential and vacation home rentals.

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