Your 2017 Tax Return

Be sure to take advantage of the many hidden write-offs you may be able to claim on your 2017 tax returns.

This article discusses the seven different deductions you may be able to claim on your 2017 returns, before the 2018 tax laws take place.

To view this article, click the following link to access the original content.

https://www.forbes.com/sites/nextavenue/2018/02/25/7-overlooked-tax-deductions-for-your-2017-return/#5e03fa0c4ce9

 

The Future of Working from Home

Future employees might not need office space and scheduled hours, but instead work from home on their own time.

This article explains why a third of the workforce will be working from home in the future, and the importance of putting a policy together for these employees.

To view this article, click the following link to access the original content.

https://www.inc.com/suzanne-lucas/survey-most-companies-lack-a-telecommuting-policy-heres-how-to-get-yours-started.html?cid=hmside1

CJBS to be Featured Panelist at Love, Marriage, Divorce, and Real Estate Panel Event

Larry Goldsmith, head of CJBS Forensic Accounting and Litigation Support group, will be a featured panelist at Love, Marriage, Divorce, and Real Estate Panel Event presented by Compass Mortgage and @Properties.

Join us for this free educational event on Sunday, March 18, 7-10 PM.

Where:
Kasbeer Hall
25 East Pearson Street
Floor 15
Chicago, IL 60611

CLICK HERE TO REGISTER

Questions or comments? E-mail Larry Goldsmith (larry@cjbs.com). Larry is an experienced Financial Forensic expert and CPA who investigates and verifies financial income and assets in matrimonial matters.

What Did the GOP’s Tax Plan Revamp Actually Do for Small Businesses?

The new tax plan is a jolt for business, and not just corporate giants. Small businesses and other ‘pass-through’ entities are also benefiting.

In an article from Dallas News, author Tom Benning writes, “And while Republicans are staking that high-dollar tax cut on helping smaller businesses — with Jenkins, among others, planning to invest in facilities and hire more workers — the overall impact remains murky for many individual owners and the economy at large”.

In the article, Benning discusses:

  • Businesses as ‘pass-throughs’
  • Not all pass-throughs are small businesses
  • Pass-through businesses now earn more net income than C-corps

Benning continues, “One restriction, for instance, focuses on businesses where the ‘principal asset’ is the ‘reputation or skill of one or more of its employees or owners’. That definition has sent business owners, financial planners and accountants scrambling for clarity on what exactly it means”. What benefits from the tax plan do will your small business see?

To read more, see the full article from Tom Benning in Dallas News.

Interested in VC Funding? These 4 Statistics Tell You Exactly What You Need to Know

As an entrepreneur, if you are considering venture capital to fund your startup, be sure to study the state of your current market.

In an article from Entrepreneur, author Jayson DeMers writes, “For the past several years, the total dollar amount of VC given to startups has increased significantly, with venture capitalists showing increasing interest in new technologies and potential “unicorns” that could be valued at a billion dollars or more”.

In the article, DeMers discusses:

  • Total VC funding down 11%
  • The median deal size
  • Unicorn valuations
  • VC for AI and machine learning has nearly doubled

DeMers continues, “It’s still an exciting time to be a startup tech entrepreneur — though the dynamics are changing. But if VC is the direction in which you’re headed, you should stay up to date with the latest trends, and position yourself accordingly”.

To read more, see the full article from Jayson DeMers in Entrepreneur.

Five Big Business Trends to Watch in 2018

As 2018 begins, business owners are paying close attention to the trends that will impact their businesses. In an article from Fortune, author Alan Murray discusses five trends that he will be watching:

  • Recession watch
  • AI Advances
  • The tech backlash
  • The CEO Statesman
  • A changing workplace for women

How will these five trends impact your business? Are there more trends business leaders should be keeping an eye on?

To read more, see the full article from Alan Murray in Fortune.

Adaptability: The Most Valued Leadership Skill

Directing changes can be a difficult task for any business leader. As the business world evolves, what are some ways that companies are keeping up with the changes of consumers?

In an article from Disruption Hub, author Sally Henderson writes, “We are living in a world with unprecedented levels of change. Advances in technology, changes in consumer behaviour, and new business models are forcing organisations and individuals to make complex and often uncomfortable decisions on a daily basis”.

In the article, Henderson discusses:

  • Why change is important
  • 3 simple words that will help with changes
  • Adaptability

Henderson continues, “Be aware change is an energy hungry beast and a very demanding partner at times. To ensure consistent commitment enroll a great team of supporters into your world so you can stick with the plan when the going gets tough”. What business changes can you implement in your business? How will your customers respond?

To read more, see the full article from Sally Henderson in Disruption Hub.

Under New Tax Law, Should Your Business Restructure as a C Corporation?

As tax reform begins in America, many businesses might want to consider filing as a C corporation.

In an article from Inc., author Zoe Henry writes, “Most U.S. small businesses currently don’t qualify for the reduced corporate tax rate. The majority of small enterprises are structured as pass-through entities such as limited liability companies or S corporations, where profits are taxed according to the owner’s personal rate. While there is some tax relief in the bill for those pass-through firms–including a temporary ability to deduct up to 20 percent of income–many could access the permanent cut by converting to full-blown C corporations”.

In the article, Henry discusses:

  • A smart business decision
  • How long would it take to convert to a C corp?
  • Taking the time to reorganize and avoid being double taxed

Henry continues, “While the reduction to the maximum corporate tax rate is written as permanent, it could change, Reitmeyer points out. For instance, Democrats could retake a Senate majority, and vote through changes to the law. If that happens, it would be far more complicated to convert back to an S corporation or an LLC than the other way around”. Have you considered a C corporation for your business?

To read more, see the full article from Zoe Henry in Inc.