Financial Planning Insights

Most businesses have some type of informal or written business plan outlining operations, budget, and goals. But a surprising number do not have a written plan for the inevitability of business succession by death, retirement, or disability. It's difficult enough these days to run a business. The last problems any business entity needs are..

Business tax planning is something you need to constantly address. Whether you are a new business or one that’s been around for decades, tax planning needs to be a priority. The tax code continues to change from one presidency to the next, and other factors, such as COVID-19, lead to significant overhauls and provisions you need to consider. Tax..

There are a million little nuances when it comes to business tax law. Each one of these can make a big difference in if you owe, and if so, how much. Startup businesses especially are prone to miss deductions or to misinterpret regulations. This is true when it comes to calculations as well. To help navigate these muddy waters, Chandler & Knowles..

Few things strike fear in small business owners' thoughts more than an IRS tax audit. Although only about 2.5% of us are ever audited, small businesses don't have the time or resources to prepare for this dreaded encounter. Even knowing that you have performed all the checks and balances to ensure that your return is correct doesn't always mean..

As the owner of a business, it is critical to be aware of federal income tax rules as they pertain to depreciation. When you have eligible assets, you can use first-year depreciation write-offs in the current tax year to your benefit. While this may not always be the right thing to do, there are opportunities here for you to take advantage of and..

Everyone knows that they have to pay taxes, but very few people know when to start tax planning. If you’re in the same boat, you came to the right place. In this article, we’ll tell you everything you need to know.

One of the most important yet often overlooked tasks is estate planning. It isn't pleasant to think about dying and people sometimes think they have plenty of time. However, that can change in a minute and the last thing you want to do is to leave your survivors to deal with all of it. Many people don't prepare because they really don't know where..

Surprisingly, there are tax deductions on the tax return filed by the self-employed that small enterprises sometimes miss. Taking advantage of all possible tax deductions and tax credits is a major part of tax planning. Timing of revenue streams and expenses can also be very important. It's best to consult your CPA for personalized guidance, but..

Owning your own business comes with plenty of challenges and your dental practice is no exception. You want to focus on your patients, not on your finances and taxes. But in order for a business to run smoothly and profitably, you need to make sure that you take tax planning seriously. Tax planning involves lots of different areas and all of them..

Filing a tax return can be a frustrating, anxiety-inducing task. Many small businesses struggle to keep up with tax deductions, income, and understanding how certain indirect costs can be claimed. Tax filing is scary not only because of that but also because everyone is afraid they are claiming something they shouldn't and a tax audit might..