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What is an exit strategy?

Artificial Intelligence (AI) has seen stunning development in recent years, and these improvements are wiggling their way into the day-to-day operations of small businesses faster than many business owners realize.

There are few experiences that conjure such dread and stress as when a taxpayer has received notification from the Internal Revenue Service that he or she will undergo an audit of their tax returns.

Frankly, it feels like a punch in the gut when you first read those words.

(Pursuant To IR-2018-66, March 21, 2018) Internal Revenue Service

Every year the IRS issues its “Dirty Dozen” report to highlight the biggest scams that the public needs to avoid.

The IRS has released the following press release:

If you’ve formed certain habits related to how you handle meals, entertainment, transportation, and parking as it relates to your business and taxes, the time to change those habits has come.

No business looks forward to the time-consuming process of closing their books at the end of each month. It’s certainly not the fun part of running a business. It can be tedious. (Though when business is doing well, it can be encouraging to see everything closing nicely in healthy shape.)

After a lengthy process, Congress and the President did what they had to do in late December 2017 to put into law one of the most significant pieces of legislation in decades: the Tax Cuts and Jobs Act (TCJA). The Act put into place a number of provisions that will affect Not for Profit Organizations.

Every business owner wants growth and profit. No one wants to sit back passively and miss out on opportunities.