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Author: mcmahonWP

This author has written 392 articles
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Should you add a technology executive to your staff?

  • Post author:mcmahonWP
  • Post published:December 9, 2020
  • Post category:Uncategorized

The COVID-19 pandemic and resulting economic impact have hurt many companies, especially small businesses. However, for others, the jarring challenges this year have created opportunities and accelerated changes that were…

Continue ReadingShould you add a technology executive to your staff?

The QBI deduction basics and a year-end tax tip that might help you qualify

  • Post author:mcmahonWP
  • Post published:December 8, 2020
  • Post category:Uncategorized

If you own a business, you may wonder if you’re eligible to take the qualified business income (QBI) deduction. Sometimes this is referred to as the pass-through deduction or the…

Continue ReadingThe QBI deduction basics and a year-end tax tip that might help you qualify

Steer clear of the wash sale rule if you’re selling stock by year end

  • Post author:mcmahonWP
  • Post published:December 7, 2020
  • Post category:Uncategorized

Are you thinking about selling stock shares at a loss to offset gains that you’ve realized during 2020? If so, it’s important not to run afoul of the “wash sale”…

Continue ReadingSteer clear of the wash sale rule if you’re selling stock by year end

Small businesses: Cash in on depreciation tax savers

  • Post author:mcmahonWP
  • Post published:December 2, 2020
  • Post category:Uncategorized

As we approach the end of the year, it’s a good time to think about whether your business needs to buy business equipment and other depreciable property. If so, you…

Continue ReadingSmall businesses: Cash in on depreciation tax savers

Family business owners must weave together succession and estate planning

  • Post author:mcmahonWP
  • Post published:December 2, 2020
  • Post category:Uncategorized

It’s been estimated that there are roughly 5 million family-owned businesses in the United States. Annually, these companies make substantial contributions to both employment figures and the gross domestic product. If…

Continue ReadingFamily business owners must weave together succession and estate planning

Lessons of 2020: Change management

  • Post author:mcmahonWP
  • Post published:November 25, 2020
  • Post category:Uncategorized

The year 2020 has taught businesses many lessons. The sudden onset of the COVID-19 pandemic followed by drastic changes to the economy have forced companies to alter the size of…

Continue ReadingLessons of 2020: Change management

Employees: Don’t forget about your FSA funds

  • Post author:mcmahonWP
  • Post published:November 23, 2020
  • Post category:Uncategorized

Many employees take advantage of the opportunity to save taxes by placing funds in their employer’s health or dependent care flexible spending arrangements (FSAs). As the end of 2020 nears,…

Continue ReadingEmployees: Don’t forget about your FSA funds

The importance of S corporation basis and distribution elections

  • Post author:mcmahonWP
  • Post published:November 23, 2020
  • Post category:Uncategorized

S corporations can provide tax advantages over C corporations in the right circumstances. This is true if you expect that the business will incur losses in its early years because…

Continue ReadingThe importance of S corporation basis and distribution elections

Putting the finishing touches on next year’s budget

  • Post author:mcmahonWP
  • Post published:November 19, 2020
  • Post category:Uncategorized

By now, some businesses have completed their 2021 budgets while others are still crunching numbers and scrutinizing line items. As you put the finishing touches on your company’s spending plan…

Continue ReadingPutting the finishing touches on next year’s budget

Taking distributions from a traditional IRA

  • Post author:mcmahonWP
  • Post published:November 17, 2020
  • Post category:Uncategorized

Although planning is needed to help build the biggest possible nest egg in your traditional IRA (including a SEP-IRA and SIMPLE-IRA), it’s even more critical that you plan for withdrawals…

Continue ReadingTaking distributions from a traditional IRA
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Recent Posts

  • Should you add a technology executive to your staff? December 9, 2020
  • The QBI deduction basics and a year-end tax tip that might help you qualify December 8, 2020
  • Steer clear of the wash sale rule if you’re selling stock by year end December 7, 2020
  • Small businesses: Cash in on depreciation tax savers December 2, 2020
  • Family business owners must weave together succession and estate planning December 2, 2020
  • Lessons of 2020: Change management November 25, 2020
  • Employees: Don’t forget about your FSA funds November 23, 2020
  • The importance of S corporation basis and distribution elections November 23, 2020
  • Putting the finishing touches on next year’s budget November 19, 2020
  • Taking distributions from a traditional IRA November 17, 2020

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Don't forget to vote before time runs out!

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