Tax & Accounting Insights for Irvine, CA. Expert Guidance from Bharmal CPAs
Tax Deductions and Technology Purchases
Uncle Sam understands that businesses need to stay current with technology. Under Section 179 of the tax code, equipment expenses such as computers, printers, and even company vehicles are tax deductible, up to a certain amount. Depending on the item, you can deduct the full cost on the year of purchase, or split it between several years. Business-related software also [...]
Target Innovation With Right Focus
Successful entrepreneurs know they have to innovate to survive, but they also know that chasing ideas blindly won’t lead anywhere worthwhile. From Rowan Gibson’s book The Four Lenses of Innovation (Wiley) come these approaches to innovation that leaders throughout history have used to break new ground: Challenge Conventional Thought - Artists, scientists, and business people have triumphed by turning “common [...]
Watch Out For These Tax Scams
There’s an array of evolving tax scams related to identity theft and refund fraud that you need to be aware of. Here are some of the latest schemes: Requesting fake tax payments: The IRS has seen automated calls where scammers leave urgent callback requests telling taxpayers to call back to settle their “tax bill.” These fake calls generally claim to [...]
IRS Rules If You Inherit Property
Sometimes tax laws create a natural conflict of interest among taxpayers, such as when someone dies, leaves you property, and you have to establish the property’s value. A new tax law addresses this problem. Obviously, the estate’s goal is to value the property as low as possible, because it wants to lower all possible estate taxes. Conversely, you as the [...]
Target These Areas for Better Employee Retention
Employee retention starts with providing fair compensation and benefits, but it doesn’t end there by any means. You can improve employee loyalty by concentrating on these four areas: Performance objectives. Employees want to do a good job, and they want to know how they need to improve. Don’t keep them in the dark. Let them know how they’re doing, how [...]
Market Research Every Business Can Afford
Did you ever wish you could read the mind of your target customer? Google Consumer Surveys is the next best thing. It allows you to survey the web with a tool so precise, it predicted the 2012 presidential election. And it’s affordable and easy to use. How does it work? You start the process using the simple three-step creator, which [...]