DiSabatino CPA Business Blog

DiSabatino CPA Blog

A blog by Michael DiSabatino CPA with topics on Tax Savings, Business, Management and more...

Mike's post usually concentrated on general business tips and strategies.

New Law Requires Small Business to Provide Paid Leave - Families First Coronavirus Response Act provides worker benefits

The Families First Coronavirus Response Act is a new law passed in late March that offers COVID-19 assistance for both employees and employers.

This new law provides businesses with fewer than 500 employees the funds to provide employees with paid leave, either for the employee’s own health needs or to care for family members.

Here are the details of the new law’s benefits:

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The IRS Says "Gotcha!" Late filing of S corporation and partnership returns can be costly

The last couple of years, the IRS has been penalizing late filers of S corporation and partnership tax returns. This despite the fact that late filing of the tax returns (Forms 1120S and 1065), due March 15th, often does not impact the receipt of the taxes due on April 15th. Those that are getting this penalty are often couples and other small firms who have formed these business entities to provide legal protection for their shareholders.

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Layoffs imminent? Include these 4 steps in your plan

Are you at the point you need to make difficult staffing decisions? Here are four items not to forget.

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Is your business the right entity type?

Small business owners have multiple entity options available to them, including C corporations and pass-through entities, such as S corporations, partnerships and LLCs.

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Small businesses: How to compete against the big guys

Worried about big business rivals? Don't wait around — take a look at some ideas of how to compete and succeed.

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Business owners: Do you have a succession plan?

Succession planning should be on the top of every business owner's to-do list. To help you plan, think about these three key items.

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Zero in on problem accounts

August 2018

Zero in on problem accounts

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Going solo: Not a 'free ride'

Going solo: Not a 'free ride'

Despite the obvious benefits, there are a couple of drawbacks to solo 401(k) plans.

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5 questions to ask before starting a home-based business

If you're getting tired of the view from your cubicle and want to start a business of your own, you'll need to figure out a few things first.

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Want a profitable business? Focus on customer service

Customer service is one of the most vital yet overlooked paths to profitability. It's time to consider how to harness the power of customer service.

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Audit-proof your shareholder loan

Business owners may face a lot of scrutiny if they borrow money from their company and then get audited. Find out how you can prepare.

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Are business meals still deductible?

Are business meals still deductible?

Deducting business meals with clients is no longer so clear-cut following the passage of the Tax Cuts and Jobs Act.

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A new credit for small business owners

A new credit for small business owners

Starting this year, employers can take advantage of a new credit for paid family and medical leave created by the Tax Cuts and Jobs Act.

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Want customer loyalty? Improve your waiting room

Business Tip of the Month 

June 2018

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Why a business appraisal is your best friend

There are a lot of ways a business appraisal can help business owners. Take a look at why you should consider getting one.

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Deduct Business Meals the Right Way

Suppose you take your best client out to dinner to celebrate your business relationship. If you own a business, are self-employed or run a side business, can you deduct any of the cost?

The answer is not so clear after the passage of the Tax Cuts and Jobs Act. Here are some tips to stay on the right side of the new rules:

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Want a successful business? Delegate

Even though delegating work may seem like a no-brainer, it's often not the first idea that comes to mind when you're contemplating how to get things done at work. Learn more about how it truly is one of the best approaches.

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Incorporate or not: What's best for your business?

Should you incorporate your business? That is the question. Find out why it may be a good idea.

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Be professional with your family member employees

Be professional with your family member employees

If you're considering hiring a family member, the best way to avoid problems is to keep it professional.

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Why walking away from sunk costs is the best option

Business owners and managers can let emotions dominate the decision-making process. Instead, move past sunk costs with grace and confidence knowing it's the smartest business decision to make.

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