Angel tax break meant to boost small companies
Minnesota’s newly-created angel tax credit creates a refundable reduction in a taxpayer’s income taxes by 25 percent of a qualifying investment.
HOW TO UPSIZE gives you access to a wide range of how-to articles written by experts in areas critical to business growth. See below for brief descriptions of (and excerpts from) articles that are available to you simply by clicking-on as indicated. The category of articles in this section:
Accounting & Taxes
Are you getting bad tax advice? How to tell
If your tax preparer is offering advice solely to provide deductions or defer income, then your overall financial goals may not be met.
Contractor or employee? Classify correctly
If you plan to retain a contractor or consultant for several months or even a year, the beginning and ending dates should be outlined in the contract.
Detailed study can lead to lower tax bills
Business owners may find an investment in a tax cost-segregation study to be valuable if they own or are about to acquire a building or other equipment.
Getting the most from financial software packages
A financial software package, used properly, can simplify business management and increase your peace of mind.
How to cash in on your firm’s bad fortune
While operating losses are rarely the goal, for some they are the surest path to needed cash.
Know rules before claiming home office deduction
Whether a person is self-employed or an employee, a home office does not have to be a separate room in the home to qualify.
Made at home? Check production tax break
Beginning with 2010 tax returns, the deduction is fully phased in. This makes the potential deduction greater and harder than ever to pass up.
Out to lunch: Which expenses can you deduct?
You can save tax dollars by taking a closer look at your company’s meals and entertainment expenses.
Simple often beats complex in accounting
In all three examples in this article, the financial information was greatly simplified. Easier to calculate and understand, these changes to management accounting systems will ultimately improve performance.