Monthly Archives: May 2014

Common Pricing Mistakes and How to Avoid Them

Image used with permission from Microsoft The setting of prices in your business is often an emotional, vague concept.  Perhaps you just looked around at what others were doing and followed them.  Or maybe you thought about what “felt normal” to pay for your product or service, and began using...
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May 2014 tax compliance calendar

As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines. This tax compliance calendar summarizes important tax reporting and filing data for individuals, businesses and other taxpayers for the month of May 2014. May 2 Employers. Semi-weekly depositors must deposit...
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How do I? Write off baseball season tickets to my business

Code Sec. 162 permits a business to deduct its ordinary and necessary expenses for carrying on the business. However, Code Sec. 274 restricts the deduction of entertainment expenses (like season tickets) incurred for business by disallowing expenses of entertainment activities and entertainment facilities. Many expenses are totally disallowed; other amounts,...
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FAQs: What are AFRs for tax purposes?

The applicable federal rates (AFRs) are used for a number of federal tax provisions. For example, Code Sec. 1274 uses AFRs to determine whether a debt instrument has original issue discount (OID or imputed interest). This determination requires the calculation of the present value of payments made on the debt...
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