MLR

Category: General Business

Accounting for Business

Welcome to our Resources section, where you will find articles pertaining to accounting for business, business financial planning, financial advice, and the industries of our clients.
This section is a great source of information, but please contact us if you feel you need professional financial advice. Maxwell Locke & Ritter is here to offer trusted guidance.

Maintaining accurate records for employee per diem travel expenses can be a struggle. At this point in time, employees are not permitted to claim unreimbursed tax expenses on their personal tax returns, so employers should think about creating appropriate reimbursement plans for employees who incur expenses associated with business travel.

In addition to understanding the amount of money that can be reimbursed, it’s also critical that employers learn about claiming business expenses on taxes using this new, streamlined approach.

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It’s common for companies to hit a point during growth where it is difficult without outside assistance. Private equity investment can be a wonderful option for business owners who want to retain some control of their business while also reaping the benefits of an outside investment.

The right private investor can be an incredibly valuable addition to your team — beyond just providing much-needed capital. As long as you consider the details beforehand so you can protect your own best interests, you may find that an investor is the key to your company’s long-term expansion and overall success.

Maintaining accurate records helps you manage the day-to-day operations of a business and makes it possible to prove that your organization is in compliance with various laws and regulations. Keeping good records also helps when hiring business tax services or when seeking business tax advice.

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Certain workplace culture characteristics consistently bring about higher financial performance.

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Establishing a winning position in the marketplace is obviously critical to your company’s success.

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Perhaps you’re considering selling off your C corporation’s assets and liquidating the firm.

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Business is about profit, but you can have fun and make profits at the same time,” said Bruce McLenithan, director of Operations Learning and Development, Steelcase North America, Grand Rapids, MI.

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Statements like this can boost your company’s sales as much as 250%. Even better, when you get a testimonial from a consumer, that person is likely to become a more loyal customer and help spread the word about your company’s products.

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Smart company owners and executives obtain business interruption insurance — and possibly contingent business income coverage if the operation relies heavily on outsourcing or a particular supplier.

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The IRS recently announced that in many cases, taxpayers can continue to deduct interest paid on home equity loans.