The straight line

Documenting business travel expenses causes administrative headaches for employers and employees alike. Typically, employees are required to collect receipts as they travel, noting the time, place and business purpose of each expenditure. They then must submit monthly expense reports that are subject to approval of their supervisors. Sometimes, administrative delays occur if documentation is incomplete or...

The big advantage of Section 529 college savings plans is that withdrawals used to cover qualified higher education expenses are free from federal income tax (and usually state income taxes too). That part is very easy to understand, but the full story on withdrawals is not so simple. What are qualified expenses? What happens if you...

For federal income tax purposes, an unincorporated joint venture or other contractual or co-ownership arrangement under which several participants conduct a business or investment activity and split the profits is generally treated as a partnership. This general rule applies even if the joint venture or arrangement is not recognized as a separate legal entity (apart from...

Over the last two decades, the Internet has become an increasingly important part of our everyday lives. Now that Internet penetration levels are nearing saturation for many demographic groups, many technology experts are speculating about how the Internet will continue to affect our personal and work lives over the next 10 years. Here’s a closer look...

Many small businesses prepare — and regularly update — a strategic plan, but many overlook this important task. Whether your business falls into the “have” or a “have-not” category, a strategic plan can be an invaluable resource to help your company accomplish its ultimate objectives. And part of this process involves having a succession or exit plan....

If you are about to ask for a business loan, expect to deal with the issue of covenants — constraints lenders impose on your company to keep it operating within specified financial ratios and to prevent it from taking certain actions. These clauses are meant to help the lender mitigate risk and get its money back....