Business Tips
The holiday season is here once again, and for some workplaces, that means holiday parties. Although the rules for deducting business entertainment expenses changed several years ago, you may still qualify for some holiday party write-offs for this year, possibly even the entire cost.
As you plan, understand the rules so you can avoid potentially costly missteps.
Artificial intelligence (AI) is changing the way businesses operate. Its capacity to gather and process data, as well as to mimic human interactions, offers remarkable potential to streamline operations and boost productivity.
If your business allows employees to perform their jobs under a hybrid work model, you’re certainly not alone. Ever since the pandemic initiated this shift, many companies have sought to strike a critical balance between allowing remote flexibility and requiring staff to come into the office (or another type of facility).
Pricing is among the most powerful levers for business owners to calibrate their companies’ profitability. Setting prices too low risks leaving money on the table. Set them too high and customers may pass you by for cheaper competitors.
It’s hurricane season, which is just one of several weather emergencies and other natural disasters companies may face, depending on location. Tornadoes, floods, and wildfires also pose serious threats. According to the Federal Emergency Management Agency (FEMA), about 25% of businesses never reopen after a major disaster. And many that do reopen struggle to recover.
We’ve reached a point where artificial intelligence (AI) offers functionality and enhancements to most businesses. Yours may be able to use it to streamline operations, improve customer interactions, or uncover growth opportunities.
If your business occupies a large space and you’re planning to relocate, expand or renovate in the future, consider the potential benefits of the rehabilitation tax credit. This could be particularly valuable if you’re interested in historic properties.
On July 4, President Trump signed into law the far-reaching legislation known as the One Big Beautiful Bill Act (OBBBA). As expected, it extends and enhances many of the tax breaks from the Tax Cuts and Jobs Act (TCJA). It also includes several of Trump’s campaign promises — though many are only temporary — and eliminates tax breaks related to clean energy. Here’s a rundown of some of the main tax law changes to be aware of as you plan for the 2025 tax year.
Businesses close for various reasons. Perhaps you’re ready to embark on a welcome change, such as retirement or launching a new venture. Or maybe it just no longer makes financial sense to continue operating your current business. Whatever the reason, closing your business is a significant milestone, and part of wrapping things up means taking care of a few tax responsibilities.
Ever since you became a business owner, you’ve focused on growing revenue, managing expenses, and leveraging tax advantages. But don’t overlook a critical element of your long-term financial well-being, that is, a business exit strategy. Ideally, your exit strategy will help you meet your retirement and estate planning goals.
