Blog

The Protecting Americans from Tax Hikes Act of 2015 is a long-awaited legislation which offers a slate of personal and business tax breaks that had expired at the end of 2014. Here’s a quick summary of how the resurrected breaks can affect your 2015 federal income tax return (Form 1040).... Read more

Early in a new year is often the time when would-be entrepreneurs think about going into business for themselves. Self-employment can be a terrific opportunity to be your own boss and do something you love to do. Being your own business also brings with it a special set of tax... Read more

If you start a business, one key to success is to know about your federal tax obligations. You may need to know not only about income taxes but also about payroll taxes. Here are five key tax tips for new businesses that can help get off to a good start:... Read more

How do you know if someone has filed a tax return using your Social Security number to commit income tax refund fraud? And what do you do then? This is happening all the time—the latest General Accounting Office (GAO) report says that IRS paid out over $5.8 billion in fraudulent... Read more

Welcome, 2016! As the New Year rolls around, it’s always a sure bet that there will be changes to current tax law and 2016 is no different. From health savings accounts to retirement contributions and standard deductions, here’s a checklist of tax changes to help you plan the year ahead.... Read more

The next-generation worker, aka the Millennial, is a big part of the business landscape and a huge part of the future. In fact, by 2020, Millennials will represent 50% of the workforce and an astounding 75% of the workforce by 2025. It’s important that your company caters to this next... Read more

Managed correctly, workplace conflict can be a positive source of innovation and creativity. Here are five myths about workplace conflict (plus tips on how to harness its power): 1. Conflict is always negative and should be avoided at work. Quite the contrary. When problems are hidden or masked, they aren’t... Read more

When it comes to starting a new business, most people focus on how they will win and achieve the American dream. But success isn’t something most new businesses experience. It’s important to be aware of entrepreneur mistakes. “The painful truth is that the majority of first-time entrepreneurs who launch a... Read more

Tax planning for the year ahead presents similar challenges to last year due to the unknown fate of the numerous tax extenders that expired at the end of 2014. These tax extenders, which include the mortgage insurance premium deduction and the sales tax deduction that allows taxpayers to deduct state... Read more

Owning a service business can be tough, and running a service business day-in and day-out can be even tougher. For many service business owners, building a service business stopped being fun a long time ago and somehow it mutated into a “job.” Here are 4 tips to help you scale your service... Read more

It used to be that you’d finish high school and quickly move in one of two directions…. …you either enrolled in a four-year college to work towards a degree, or you got a job right out of high school and never looked back. Enter the modern day, when more and... Read more

The Trinity of Management is a simplified concept of basic business management. Coined and trademarked by Ernesto Sirolli, it makes it relatively easy to get across the basics of business by creating a framework in which we can start the work of building a solid new business or expanding an existing... Read more

Staff motivation should always be on top of your priority list because a business thrives when it’s people thrive. If they’re not motivated – if they don’t feel as if they’re adding value and are indispensable within the team – then your business is at a huge disadvantage. It’s a... Read more

It’s never too early to start succession planning in a family business. Here’s a story… …From the moment the Yung Kee restaurant sold its first goose in Hong Kong, in the 1960s, its founder Kam Shui-fai groomed two of his sons for management roles. However he never had the time... Read more

What are the Strategic Planning Steps? The Strategic Planning Steps business management system is an organizational tool that is used by groups and corporations globally to refine their goals and maximize their resources. Drawing from the concepts of strategic military planning, the Strategic Planning process is one way in which... Read more

Everyone deserves a break, especially those who work hard trying to a get a business off the ground. A recent survey found that three quarters (76%) of small business owners and entrepreneurs skip their holidays in order to keep their business running smoothly. But while there may never be a... Read more

Small businesses have a lot to manage, and often without a lot of resources to do so. The focus is on keeping the business running smoothly, pleasing customers, and making a profit. But in today’s digital world of non-stop news headlines reporting data breaches and fraud, making security a priority... Read more

CPA Beth’s bodybuilding dream becomes a reality… Flower Mound CPA and co-owner of Williams & Kunkel CPAs, Beth A Williams, placed as a newcomer in the Masters Bikini Division at The National Physique Committee (NPC) JTF Physique Championships held at the Irving Convention Center over the weekend. The contest was... Read more

Many business owners have the mistaken idea that retiring from their business will be a pretty simple process… …they’ll just find a buyer when they’re ready to retire and live off the proceeds of the sale for the rest of their lives. In an ideal world, this would be true.... Read more

Do your co-workers ever feel upset or angry in the workplace? Let’s look at the kind of feelings that can impact your work negatively and what kind of mental exercises can help you work around those feelings to keep your positive thinking alive. Recognize those bad feelings      ... Read more

Nothing mirrors your quality of life more than your thinking. By deciding to take a positive outlook on life, one can begin to discard a negative frame of mind and view life more positively, with the anticipation of opportunities and challenges ahead, instead of dwelling on barriers in life. Positive... Read more

Is Your Accountant Proactive or Reactive? Does your Accounting and Tax Firm offer you advice before it happens or late or not at all? Do they offer value added services that help your business improve and grow or do they just process your work? Are they constantly looking for legitimate... Read more

Since its inception, the United States has always been considered “the land of opportunity” – a place where any individual with motivation and drive can have a successful small business. This notion still holds true today as 99 percent of all American companies are small businesses, according to Small Business... Read more

Taking your business from the start-up phase to becoming a medium-sized enterprise is a pivotal step for many entrepreneurs. If you are at this stage, congratulations! You have succeeded where many others have failed, and you are potentially on your way to becoming a very successful company. That said, there... Read more