Small Business Accounting Costs

Net Investment Income Tax (NIIT)

For many small business owners, the accountancy duties are often the bane of their existence as it requires specialty financial management skills and consumes valuable time that should be dedicated to running the business. It is the rare business owner that relishes managing the financial side of the company. Some business owners look to financial…

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How to maximize meal tax deductions for 2021

Business Meal Tax Deduction 2021

One of the best ways to meet and get to know vendors, distributors, or prospective clients is by organizing business meals. Not only is it convenient, but also it is an effective way to build lasting business relationships. The relaxed atmosphere of a business dinner may make your guests more receptive to listening than they…

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CFO/Financial Management for Dental Practices

Every facet of your dental practice hinges on the financial health of your business. The quality of patient care is predicated on the equipment you have, the type of technological tools at your disposal, and the caliber of your team.  Your practice offers competitive wages to be able to hire top-quality dental assistants, dental hygienists,…

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5 Keys to Putting Kids and Family Members on the Payroll

Whether you are a small business owner or self-employed, hiring and paying your children or grandchildren is a great strategy for minimizing your tax liability and enjoying a series of secondary benefits. In addition to the potential tax advantages, hiring family members can provide a certain level of comfort and familiarity for the work environment.…

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Why Small Businesses Need a Fractional CFO

If you are a small business owner, your main incentive in how you operate your company is to increase your profit margin. This places a premium of importance on sound money management and competent financial practices as you also, as needed, implement fiscal austerity measures to keep your business in the black. Small business owners…

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Is the Net Investment Income Tax Still In Effect?

Net Investment Income Tax (NIIT)

What is it? The Net Investment Income Tax (NIIT) was enacted in 2013. This tax boosted IRS revenue collections by broadening its reach to unearned investment income. The official name is the “Unearned Income Medicare Contribution Tax.” That may suggest it was intended to fund Medicare however the raised funds go into the nation’s general…

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5 Ways a Dental Consultant Can Help Grow Your Practice

As your dental practices grow, dentists and office managers require insight and information to make the most effective decisions.  With so many responsibilities including patient care, operational management, marketing, and bookkeeping, it isn’t unusual for dentists and office managers to feel overwhelmed as they struggle just to keep up with the daily operation of their…

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