Tax & Accounting Insights for Irvine, CA. Expert Guidance from Bharmal CPAs
Are Your Employees Happy at Work?
Let's face it: Your employees can’t do their best work if they’re not happy with their job at your company. The following “Workplace Audit,” created by the Gallup organization, can help them find out if they’re really happy where they are. Just have them put a checkmark next to each statement below that accurately portrays how they feel about their [...]
Address Employee Complaints With These Reasonable Questions
Employee complaints are part of every business owner’s life. You can’t ignore them, but you shouldn’t let them take over your day either. Handle them efficiently by asking your employee these questions: What is the exact problem? Don’t settle for unspecific gripes, like “I’ve got too much work.” Isolate the nature of the problem in concrete terms. Who else have [...]
Tax Tips For Newly Married Couples
Congratulations, newlyweds! While it may not have been on your registry, we’re pretty sure you’ll appreciate the gift of these tips to help you avoid trouble at tax time: Has it Been a Year Already? If you were married anytime in 2016, the IRS considers you to be married for the full year, so you both should adjust your tax [...]
Sell Your Home to Your Corporation
You may or may not be thinking of converting your personal home to a rental property, but if you are, please discuss this with us before you take action. You likely have some planning opportunities available on this conversion of your home to a rental that can improve the rental profits. One possible strategy is to create an S corporation [...]
Follow These Rules For Your IRA
Setting up an Individual Retirement Arrangement (IRA) for your retirement can be a good investment, but it’s not a simple process. Watch out for these common mistakes from the start: Not getting professional advice - Don’t try to do it on your own. Accountants and financial planners, have studied the complex financial and tax rules for retirement vehicles. Naming the [...]
Save Taxes by Implementing Health Savings Account for Your Business
The health savings account (HSA) is just one of many possible health plans that you could use. HSA has some benefits for you personally—or for you and your employees, if you implement an HSA plan in your business. Here’s a very tight summary of how the HSA works: Deduct the health insurance cost. To enable the HSA, your health insurance [...]