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3 Tips to Get Your Small Business Ready for Tax Season

Getting an early start to your taxes can help you minimize your tax burden, increase deductions, and avoid the end of the year scramble. Read more

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How to Choose a Tax Preparer

No matter what your scenario, there comes a time when you should consider hiring a professional tax preparer. Read more

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Ask the CPA 2020 - Tax Advice for Small Businesses

Join us for this LIVE Q&A session with certified CPA and small business tax expert Micah Fraim. The hour will be dedicated to answering your tax-related questions and concerns. Read more

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An ESOP is not a Fable

December 3, 2016

An ESOP is also not an Employee Stock Option Plan. It is a defined contribution retirement plan established under section 401(a) rather than 401(k) and has two major differences. It must invest primarily in stock of the sponsoring company, and can borrow money to do so. The name is very misleading since the employees never own any of the company stock.

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ESOP 101

December 3, 2016

An ESOP is not a do-it-yourself endeavor. The creation is complicated. The ESOP must conform to the laws and regulations of both ERISA and the IRS, and is overseen and regulated by the Department of Labor. Dealing with one government agency is bad enough. Dealing with three of them is horrific.

Article

How to Deduct Bad Debt

If you mistakenly forgot to deduct a bad debt on your tax return in the year it became worthless, you can file a claim for a credit or refund. Read more

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