Starting a new business can be an exciting venture. However, if you want to succeed, you have to pull resources like capital and human resource to start on the right grounds. Capital is an important piece of this puzzle, and without enough of it, the business is bound to fail. The good news is, that’s not how your dream of …
IRS Form 5472 — The Importance of Reporting Foreign Ownership of US Companies
From Budweiser to 7-Eleven and American Apparel, many of the names consumers love, trust, and consistently engage with are foreign-owned. In fact, foreign-owned companies employed over 7 million American workers and generated a massive 16% of all business investments in 2019, so it’s safe to say that foreign-owned businesses help drive a significant chunk of the American economy. With Globalization …
Working From Home? You Should Understand the Details of the Home Office Deduction
According to a recent PwC survey, 98% of employers (in the office setting) have shifted a significant chunk of their employees to remote work. And 89% expect it to stay that way even once the pandemic has officially “ended.” So, there’s a good chance that you’re reading this blog post next to a hot cup of joe and a …
Tax-Deducible Options for Business Vehicle Usage
If you’re an employer whose business relies on frequent vehicle usage, then you’re probably considering the options available to expense your business transportation. The best option is not always black-and-white, and often depends on the amount of time your employees spend driving, the size of your company, and other tax considerations. You have four main options for handling business transportation: …
Let’s Simplify Inventory Management
Great software is important, but it all starts with good, old-fashioned teamwork. It’s All Starts With Teamwork Inventory management can be one of the most stressing controls to implement in your business. It’s not sexy by any means, and many argue that, as businesses grow, they should focus their time on sales funnels and top-line revenue. The task of correctly …