The straight line

At the end of June, the U.S. Supreme Court adjourned for its summer recess. Here are five recent cases from its 2016 term that may be of interest to business owners and managers. Advocate Health Care Network v. Stapleton(S. Ct. No. 16-74, June 5, 2017) Under the Employee Retirement Income Security Act of 1974 (ERISA), employees...

In one significant case, the U.S. Tax Court allowed a taxpayer to claim deductions for meals that stretch the limits of the traditional “sleep-or-rest” rule for business travelers. (Bissonnette, 127 TC No. 10) Background: Generally, you can deduct 50% of your meals and all incidental expenses when you are away from home on business. The IRS considers...

Many taxpayers own vacation homes that they’ve rented out and also used as their personal residences. Can one of these homes be traded for another vacation home in a tax-deferred Section 1031 exchange? According to the IRS, the answer is “yes” under the right circumstances. The IRS has even issued guidelines for how to do it....

What should you do if you discover an error on a previously filed individual tax return? For example, you might have missed some tax-saving deductions and credits on your 2016 personal federal income tax return that you filed in February. Or you might have recently discovered that you failed to claim some legitimate tax breaks on...

At many companies, the mindset of managers stifles innovation and inhibits profitability. Some of the best money making ideas come from people who work on the front lines. Yet, employees often hear the same negative responses when they try to share them. Does your management team react to suggestions with these phrases? Don’t be ridiculous. We’re...

As you already know, public relations professionals can help your company get publicity about the products or services you provide. But a good public relations program can also help your company avoid litigation. Here are four ways that first-rate PR can provide protection: PR can help manage media relations during a crisis situation. Let’s say your company...