Small Business, Big Ideas

with Jean Willard


How to follow through on New Year’s resolutions for your business

As 2013 draws to a close, we clear our desks, prepare to celebrate with friends and family, and enjoy our holiday traditions. As the holiday season winds down, however, we set our sights on the new year — with new resolve and hopes for higher profits, healthier and happier employees, and fewer stresses.

Posted at 09:02 AM | Permalink | Comments


The end of the year is near; don’t forget your flexible spending account

As the year draws to an end, we focus on our many blessings, buy gifts, and celebrate the holidays. Many of us also begin to think about tax planning. We ask our CPAs to check our withholdings and estimates, help us decide about charitable gifts, and avoid penalties.

Posted at 11:09 AM | Permalink | Comments


What are the new tax rules for same-sex married couples?

Now that the Supreme Court has decided Section 3 of the federal Defense of Marriage Act violates the Fifth Amendment’s equal protection clause, same-sex married couples will be able to enjoy many federal tax benefits that were previously available only to opposite-sex married couples.

Posted at 01:06 PM | Permalink | Comments


What is Wisconsin doing to stimulate new business?

In the past I have written about federal tax provisions as well as ways to protect oneself from identify theft, spam, and other problems. But in our office, we also have conversations with our clients about some of the newer provisions that Wisconsin has passed to help businesses operating in Wisconsin.

Posted at 09:38 AM | Permalink | Comments


Now there’s an easier way to compute home office deductions

If you’re an entrepreneur who works out of a home office, you can now take advantage of a more simplified approach to claiming deductions. At tax time, one of the topics we discuss most frequently with clients is how a home office deduction can be taken on the return of an individual who owns a small business. The legislative history of this deduction has taken some twists and turns over the years, but in January, the IRS issued Rev. Proc. 2013-13, which details an optional safe-harbor method for individual taxpayers wishing to claim a home office deduction.

Posted at 09:19 AM | Permalink | Comments