Bird’s-Eye View of Tax-Deductible Small-Business Health Plans

Health plans and finding the best tax deductions with the best possible health care is no easy task for small businesses. For example, if you are a 1099 business (sole proprietorship), you could have up to three choices for tax

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Get Your Team to Participate in Your Meetings

From one of my business coaches Salim Omar and the Omar Group, I wanted to provide you with the following visual aid he has created.  If you are like many small business owners, meetings happen too often, no clear results

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Tax-Savings Tips September 2018

New IRS 199A Regulations Benefit Out-of-Favor Service Businesses If you operate an out-of-favor business (known in the law as a “specified service trade or business”) and your taxable income is more than $207,500 (single) or $415,000 (married, filing jointly), your

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Caring for Existing Customers for Fun and Profit

Ted Smith’s “Real World” Business Strategy Caring For Your Existing Customers For Fun and Profit “Do something nice and try not to get caught.” – Quaker Proverb I’ve spoken before about the value of a regular communication plan with your

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How to Prepare for Financial Emergencies

Ted Smith’s “Real World” Personal Strategy Note How To Prepare for Financial Emergencies “It’s the little things you do that make the big things happen.” – Mike Dooley I believe that nothing will better prepare you for emergencies, in advance,

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Want to Help Your Employees with Medical Expenses?

As a small employer (fewer than 50 employees), you should consider the qualified small-employer health reimbursement account (QSEHRA) as a good way to help your employees with their medical expenses. If the QSEHRA is indeed going to be your plan

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Ways to Add Growth to Your Business

More guidance came to us last week from the IRS, and this last round is pretty meaty, as it relates to the 20% deduction for “Qualified Business Income” for passthrough entities. And, as a reminder, Congress passed these tax changes,

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Ted’s Tax Saving Tips August 2018

Convert Your Personal Vehicle to Business and Deduct up to 100 Percent You probably like your personal vehicle just as it is. But wouldn’t you like it far better if it were producing tax deductions? Perhaps big deductions, immediately. And

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Weekend Business Success Tip 2018-1

It is imperative that every small business owner maintains a separate business bank account for the business. The IRS frowns on the commingling of business and personal transactions.  

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The Kind of Numbers You Should Be Looking At In Your Business

“Reality is that which, when you stop believing in it, doesn’t go away.” -Philip K. Dick It’s easy to get lazy when a business can pick the low hanging fruit available in an easy marketplace. But, that’s not always the

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