The straight line

As you scramble to get up-to-date on changes to the federal tax rules under the Tax Cuts and Jobs Act, there also will be major changes to U.S. Generally Accepted Accounting Principles (GAAP). Here’s an overview of the major accounting rules that will change over the next few years. These changes are likely to require updates...

Many business owners fail to follow the strict tax rules for substantiating vehicle expenses. But if your business is audited, the IRS will most likely ask for mileage logs if you deducted vehicle expenses — and it tends to be especially critical of the amount deducted if you’re self employed or you employ relatives. While the...

Many people dream of making money pursuing a favorite hobby. By starting a sideline business, you could be eligible for a treasure chest of tax deductions. If you follow certain rules, you can deduct the expenses related to your venture, including equipment, advertising, subscriptions and business-related auto costs. You might even be able to claim a...

Winter can be a busy time for travel. Snowbirds try to escape the cold. Grandparents long to visit loved ones in distant cities. Jetsetters want to ring in the New Year in a memorable locale. Regardless of the season, travel brings photo opportunities that are prime for posting on Facebook, Twitter, Instagram and other social media...

It’s important for employees to make the connection between their duties and your company’s big financial picture. Here are a couple of ways to help ensure that your staff members make that critical connection: Ask each employee to write his or her own job description to explain how that employee makes money for the firm. Supervisors...

E-mail is ubiquitous in the American workplace and along with its growth comes the risk of lawsuits that can cost your company a bundle. In most cases an employer is held responsible for information contained in corporate e-mail messages. That means a company must take steps to ensure that e-mail communications don’t pose a legal risk....