H&B, Author at Hutchinson and Bloodgood LLP

Software

Are You Using the Right Accounting Method for Your Business?

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May 11, 2023

The accounting method you currently use for your small business may no longer be appropriate due to changes in market conditions or within your company. The IRS generally allows taxpayers to change their method, but you need to consider several factors — related to both accounting and taxes — to determine which method best suits your […]

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Tax Planning

Questions you may still have after filing your tax return

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May 10, 2023

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If you’ve successfully filed your 2022 tax return with the IRS, you may think you’re done with taxes for another year. But some questions may still crop up about the return. Here are brief answers to three questions that we’re frequently asked at this time of year. When will your refund arrive? The IRS has […]

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Business Planning & Consulting

6 tried-and-true strategies for improving collections

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May 4, 2023

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Businesses that operate in the retail or restaurant spheres have it relatively easy when it comes to collections. They generally take payments right at a point-of-sale terminal and customers go on their merry ways. (These enterprises face many other challenges, of course.) For other types of companies, it’s not so easy. Collections can be particularly challenging […]

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Employee Retention

Education benefits help attract, retain and motivate your employees

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May 3, 2023

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One popular fringe benefit is an education assistance program that allows employees to continue learning and perhaps earn a degree with financial assistance from their employers. One way to attract, retain and motivate employees is to provide education fringe benefits so that team members can improve their skills and gain additional knowledge. An employee can […]

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Healthcare

Businesses, be prepared to champion the advantages of an HSA

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April 26, 2023

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With concerns about inflation in the news for months now, most business owners are keeping a close eye on costs. Although it can be difficult to control costs related to mission-critical functions such as overhead and materials, you might find some budge room in employee benefits. Many companies have lowered their benefits costs by offering […]

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Tax Planning

Tax news for investors and users of cryptocurrency

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April 25, 2023

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If you’re a crypto investor or user, you may have noticed something new on your tax return this year. And you may soon notice a new form reporting requirements for digital assets. Check the box Beginning with tax year 2022, taxpayers must check a box on their tax returns indicating whether they received digital assets […]

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Business Planning & Consulting

Strengthen strategic planning with competitive intelligence

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April 19, 2023

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Business owners and their leadership teams are rightly urged to engage in regular strategic planning to move their companies, thoughtfully and consciously, in a positive direction. However, no matter how sound a set of strategic objectives might be, it’s always important to bear in mind that your competitors have plans of their own. That’s why […]

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Estate Planning

There’s a favorable “stepped-up basis” if you inherit property

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April 18, 2023

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A common question for people planning their estates or inheriting property is: For tax purposes, what’s the “cost” (or “basis”) an individual gets in property that he or she inherits from another? This is an important area and is too often overlooked when families start to put their affairs in order. Under the fair market […]

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Business Valuation

5 valuation terms that every business owner should know

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April 12, 2023

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As a business owner, you’ll likely need to have your company appraised at some point. An appraisal is essential in the event of a business sale, merger or acquisition. It’s also important when creating or updating a buy-sell agreement or doing estate planning. You can even use a business valuation to help kickstart or support […]

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Tax Planning

Paperwork you can toss after filing your tax return

Files in a cabinet, one file labeled Taxes and another file labeled Receipts

April 11, 2023

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Once you file your 2022 tax return, you may wonder what personal tax papers you can throw away and how long you should retain certain records. You may have to produce those records if the IRS audits your return or seeks to assess tax. It’s a good idea to keep the actual returns indefinitely. But […]

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Author: H&B

Are You Using the Right Accounting Method for Your Business?

Questions you may still have after filing your tax return

6 tried-and-true strategies for improving collections

Education benefits help attract, retain and motivate your employees

Businesses, be prepared to champion the advantages of an HSA

Tax news for investors and users of cryptocurrency

Strengthen strategic planning with competitive intelligence

There’s a favorable “stepped-up basis” if you inherit property

5 valuation terms that every business owner should know

Paperwork you can toss after filing your tax return

A Comprehensive Approach to Goal-Based Financial Planning