The Inflation Reduction Act has a provision that could benefit many small business startups, allowing them to potentially double the amount of the research and development tax credit that can be used against payroll taxes from $250,000 to $500,000 per year.
Business owners know that it is always more expensive to hire a new person than it is to simply retain one of your existing workers. However, if you’re hiring, developing your onboarding process can set your new employees up for success.
To truly give yourself the best chance of success, and to help achieve your overall goals in the most effective ways possible, there are a number of key best practices you’ll want to keep in mind along the way.
Henssler CPAs & Advisers Tax Partner John Dickson, CPA, CFP®, CVA, joins Troy Harmon, CFA, CVA, Nick Antonucci, CVA, CEPA, and K.C. Smith, CFP®, CEPA on Our Three Cents to discuss how to manage the taxes business owners face when entering a transaction to exit their business when retiring or entering a new business. Without the right professionals on board, business owners may not know how the tax impact will change depending on how the deal is structured.
Employees may be misclassified as independent contractors. Misclassifying a worker can have significant ramifications for both the employer and the worker in terms of how much each pays in income, Social Security, and Medicare taxes, among others.
Chief Investment Officer Troy Harmon, CFA, CVA, Managing Associate K.C. Smith, CFP®, CEPA, and Associate Clay Norman, CFP® take a closer look at an entrepreneur who wants to tap into his retirement funds to fund his next startup because the sale of his last business didn’t result in immediate cash flow.
Millions of small and mid-sized businesses are the true foundation of the United States economy. Whether you’re a seasoned veteran or are a new entrepreneur, it’s important to understand the available funding options and how to take advantage of them.
As a business owner, have you done everything you can to secure the future of your business? In this Small Business Minute, Nick Antonucci, CVA, CEPA, explains the initial steps to help ensure the survival of the business when you’re no longer in charge.
Back after a brief hiatus, Our Three Cents is back as Troy Harmon, CFA, CVA, Nick Antonucci, CVA, CEPA, and K.C. Smith, CFP®, CEPA of Henssler Financial are joined by Tax Partner John Dickson, CPA, CFP®, CVA, of Henssler CPAs & Advisers to discuss business owners who are trying to minimize taxes by running as many expenses as possible through their business.
In between the start-up phase and a mature business is the growth phase that provides an exceptional opportunity to grow from the business you’re running into the one you hoped you’d be in charge of when you started.
