Better Guidance Blog

Financial fraud and embezzlement are ever-growing threats to people and businesses. Every business owner's worst nightmare is falling victim to fraud, embezzlement, theft, or other [...]

Sales tax laws have changed in recent years, and keeping up with the changes can be challenging for business owners. In the 2017 Wayfair case, [...]

If you use your car only for business purposes, you may deduct its entire cost of ownership and operation (subject to limits discussed later). However, [...]

The de minimis safe harbor is simply an administrative convenience that generally allows you to elect to deduct small-dollar expenditures for the acquisition or production [...]

Do you ever feel like there aren’t enough hours in the day to do everything that you want to do for your business? Do you [...]

Property tax is a tax paid on real estate or other property types. It Is a kind of ad-valorem tax, which is based on the [...]

The tax planning required for selling or buying a business can be a daunting task with abundant risk and reward. One of the key [...]

Technology is ever-advancing in a world of skeptics and soothsayers. Leaders of industries around the globe are in an arms race for the next big [...]

If you look at the data provided by the Centers for Disease Control and Prevention for 2016, you can easily see that nearly half of all married [...]

It’s every business owner’s nightmare. Should hackers gain access to your customers’ or employees’ sensitive data by causing a data breach, the very reputation of [...]

Absenteeism has typically been a thorn in the side of many companies. But there’s a flip side to employees failing to show up to work: [...]

Having a positive attitude and thinking at work will reflect on what you do and make you a more productive employee. This mindset can determine [...]

Any business owner knows that being efficient is crucial to the business's success. Saving time on things that can be done by someone else is [...]

The Affordable Care Act includes the Small Business Health Care Tax Credit, which can benefit small employers who provide health coverage for their employees. Taxpayers [...]

As many business owners have heard about a new leasing standard, ASC 842, many of them don’t realize it’s been in effect for almost three [...]

“I could sell water to a whale.”Indeed, most salespeople possess an abundance of confidence. One could say it’s a prerequisite for the job. Because of [...]

Part II: Risk AssessmentIn the last post on this topic, we discussed the importance of controlling an environment in responding to and preventing risk.  Another [...]

For many businesses, offering employees a 401(k) plan is no longer an option — it’s a competitive necessity. But employees often grow so accustomed to [...]

Unfortunately, fraud is a relevant topic for almost everyone and everything in today’s business environment. We all have likely heard about “Wall Street-size” corporate fraud, [...]

Payroll is a vital part of any business. A primary reason for working is to make money. But some parts of employee payment could cause [...]

The flat 21% federal income tax rate for C corporations under the Tax Cuts and Jobs Act (TCJA) has been great news for these entities [...]

An Employee Stock Ownership Plan (ESOP) is a retirement plan in which the company contributes its stock to a plan to benefit the company’s employees. [...]

With the year underway, your business probably has a strategic plan in place for the months ahead. Or maybe you’ve created a general outline but [...]

Many tax-related limits that impact businesses are annually indexed for inflation, and many have increased for 2021, although a few remained the same due to [...]

Identity theft is defined as an organized crime of consciously using someone else’s personal information to commit fraud or gain a financial advantage, and the [...]

A good marketing plan should be like a network of well-paved, clearly marked roads shooting out into the world and leading back to your company. [...]

Nowadays, data drives everything — including the very buildings in which companies operate. If your business is considering upgrading its current facility or moving to [...]

As a business owner, how much confidence do you have in your financial reports’ numbers and internal control? Does the net income represent a successful [...]

The promise of the new year lies ahead. One way to help ensure it’s profitable is to re-evaluate your company’s pricing strategy via market [...]

Remember those old miner towns? They were company towns where all residents worked for the mine owner. Most towns didn’t even have money. They [...]

A business can suffer economic damages arising from a variety of illegal conduct. Common examples include breach of contract, patent infringement, and commercial negligence. [...]

The dawning of 2019 means the 2018 income tax filing season will soon be upon us. After year end, it’s generally too late to [...]

While Microsoft Office is a standard piece of software that many employees need to excel at, a resume sets you apart from everyone else. [...]

Tax planning is a juggling act for business owners, especially when considering an exit strategy. You must keep your eye on your company’s income [...]

The Tax Cuts and Jobs Act allows a general business credit to certain employers for paid family and medical leave. This credit can be [...]

A technician at a mobility equipment supplier was servicing the motorized wheelchair of a long-time customer and noticed it was a brand-new model. “Where [...]

Gambling taxes can be a complicated subject to figure out, but they are extremely important. The thrill of earning an easy dollar has more [...]

Turn on your computer or mobile device, scroll through Facebook or Twitter, or skim a business-oriented website, and you’ll likely come across the term [...]

There are several different types of interest that you can deduct on your tax return.  You can deduct interest that is an ordinary and necessary [...]

Those who run family-owned businesses often underestimate the need for succession plans. After all, they say, we’re a family business — there will always be [...]

Many factors go into the success of a company. You’ve got to offer high-quality products or services, provide outstanding customer service, and manage your inventory [...]

The holiday season is a great time for businesses to show their appreciation for employees and customers by giving them gifts or hosting holiday parties. [...]

Under the Tax Cuts and Jobs Act (TCJA), many more businesses are now eligible to use the cash method of accounting for federal tax purposes. [...]

A strong economy leads some company owners to cut back on marketing. Why spend the money if the business is so good? Others see it [...]

When starting a new business, many new business owners express that they have limited funds and time for their bookkeeping, HR, and payroll tasks, alongside [...]

For several years now, cloud computing has been touted as the perfect way for companies large and small to meet their software and data storage [...]

When debt is forgiven, it is not always given away tax-free. Depending on the situation, you could have to pay tax on the cancellation of [...]

Business owners are constantly bombarded with terminology and buzzwords. Although you probably feel a need to keep up with the latest trends, you also may [...]

When you start a new job you are asked to fill out a few forms. You have an I-9, W-4 (State and Federal), and possible [...]

Rising insurance costs are a concern for every business owner. However, protecting your company through the purchase of various forms of insurance is a risk-management [...]

You’ve spent years building your company and now are ready to move on to something else, whether launching a new business, taking advantage of another [...]

1.      RecipientsA memo can be addressed in three different situations: an informal memo for internal communication, a formal memo to the department unit, and an [...]

As we approach the end of the year, it’s a good idea to review your business’s expenses for deductibility. At the same time, consider whether [...]

What are the chances that your business will experience an IRS Audit? Well, if you own a business with Schedule C gross receipt over $100,000, [...]

Is your sales process getting off-balance? Sometimes it can be hard to tell. Fluctuations in the economy, changes in customer interest, and dips in demand [...]

In today’s tightening job market, to attract and retain the best employees, small businesses need to offer not only competitive pay, but also appealing fringe [...]

When considering charity scams, with the holiday season being just around the corner and all the disasters that have occurred this past year, it is [...]

Businesses that acquire, construct, or substantially improve a building — or did so in previous years — should consider a cost segregation study. It may [...]

Time management is a skill everyone needs to master to be successful in today’s busy society. We are constantly and simultaneously pulled in different directions, [...]

Tax identity theft may seem like a problem only for individual taxpayers. But, according to the IRS, increasingly, businesses are also becoming victims. And identity [...]

The advancement of technology over the last five to ten years has enticed more people to forsake their longer morning commutes to the office and [...]

Does your business reimburse employees’ work-related travel expenses? If you do, you know that it can help you attract and retain employees. If you don’t, [...]

Professional athletes have become world-renowned. Their careers and personal lives are splattered across the media each and every day. One thing you may not hear [...]

In the modern business environment, optimizing each aspect of an organization can be the difference between success and failure. Integrated internal audits serve as preventive [...]

Every business with more than one owner needs a buy-sell agreement to handle both expected and unexpected ownership changes. When creating or updating yours, be [...]

While the 2017 Tax Cuts and Jobs Acts (TCJA) restricted charitable noncash contributions for those who don’t itemize, cash contributions have been expanded from 50% [...]

As you spend your career living for your business, you should be mindful of the value of your business. The use of a business valuation [...]

“There’s a saying that employees don’t leave companies. Employees leave managers.” This is a statement I have heard time after time. It can be frustrating [...]

Abacus CPAs, LLC takes pride in our lifetime learners who have achieved the feat of passing the CPA exam. Taking tax and accounting to the [...]

 A CPA can provide forensic and/or tax services concerning the identification and division of marital property.  While the divorce may be amicable, it can still [...]