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Resources

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.

 

For most Americans, Social Security is essential for financial independence during retirement. However, some soon-to-be retirees who plan to draw Social Security aren’t fully aware of its financial scope and their rights under the Social Security Administration. This article includes five points that all retirees should know.

For charitable companies, donations values and taxes are interrelated factors that shape the bottom line. Learn how the marketplace determines these values.

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Qualified and engaged staffing brings their knowledge to help support the profitability and value-based services for medical practices. This article lists several principles that can help practices elevate their human resources management.

Ten years ago in September 2008, the global economy stood on a precipice and quickly slid into the worst recession since the 1930s. In fact this period has since been named The Great Recession.

With just a little time left in 2018, we wanted to share a few final year-end strategies that can help lower your personal tax bill. Here are four tried-and-true tax planning strategies, tweaked to account for the Tax Cuts and Jobs Act (TCJA).

There are real estate tax opportunities that companies can leverage throughout the year to address acute business needs without jeopardizing future finances. For example, if you liquidated office space or other building assets, your business may be eligible for these tax benefits.

The franchisor/franchisee business relationship is a common one, and it offers plenty of growth potential. Whether you’re considering owning a franchise or thinking about taking on franchisees, understanding the process before making a major decision is crucial. Then, it’s essential that you draft a franchise agreement that covers both the immediate terms, as well as any changes that may occur in the future. Maxwell Locke & Ritter can help you complete this when you’re ready, but here is what to know and understand before buying a franchise:

Year-end planning for 2018 takes place against the backdrop of a new tax law — the Tax Cuts and Jobs Act (TCJA) — that was passed last December and that made major changes to the tax rules for individuals and businesses. For businesses, the corporate tax rate is cut to 21%, the corporate AMT is eliminated, there are new limits on business interest deductions and the deduction of pass-through business losses, significantly liberalized expensing and depreciation rules, and there is a new deduction for non-corporate taxpayers with qualified business income from pass-through entities.  Also, in the foreground is the possibility of new tax legislation being passed before or after year-end.

Year-end planning for 2018 takes place against the backdrop of a new tax law — the Tax Cuts and Jobs Act (TCJA) — that was passed last December and that made major changes to the tax rules for individuals and businesses. For individuals, there are new, lower income tax rates, an increased standard deduction, new limitations on certain itemized deductions and the elimination of personal exemptions, a significantly increased exemption for the alternative minimum tax (AMT) and the estate tax, and many other changes. Also, in the foreground is the possibility of new tax legislation being passed before or after year-end.

Maxwell Locke & Ritter and our affiliate, ML&R Wealth Management, is excited to announce that Michelle Hardeman, Brandon Lamb and Vanessa McElwrath have been promoted to Partner.