Four Basic Baskets of Interest Expenses

Are interest expenses deductible? The answer is a complicated “yes and no.” Essentially, it depends on the type of interest expense incurred. Although there are technically other types, interest expenses can be lumped into four main baskets for tax purposes.   1. Personal interest: If an interest expense does not fall into one of the
Continue Reading

Six Hiring Mistakes to Avoid

Create a blueprint for interviews Are you hiring someone to join your business team? A successful new hire is one who meets the necessary requirements, fits in well with other team members and brings value to the business. When interviewing candidates, avoid six common mistakes that often plague business managers. 1. Establish your objectives. How
Continue Reading

Comparing Cash Flow to Business Profit

Understand and realize the key differences Don’t be fooled into thinking that cash flow and profit are the same thing. In fact, there are major differences. Cash flow is dynamic and moves daily, while profit is a snapshot of income and expenses at a specific point in time. Understanding this comparison, and acting upon it,
Continue Reading

The Research Credit Is Back for Good

New law permanently extends tax break Like Arnold Schwarzenegger’s character in The Terminator, the research credit is back. This valuable tax break, which had officially expired and been restored more than a dozen times in the past, was extended again by the Protecting Americans from Tax Hikes (PATH) Act, retroactive to the beginning of 2015.
Continue Reading