Year-End Tax Planning Moves for Individuals
Year-end planning is a bigger challenge this year than in past years because, unless Congress acts, tax rates will go up next year, many more individuals will be snared by…
The Competitive Edge
Community Spotlight – Skills for Living, Inc.
The Competitive Edge, Volume 2 Issue 4 | August 2012
Melton & Melton takes a very active role in giving back to the local community, contributing our time to bring awareness to the charitable needs in the region. With this…
Donations of Stock: Give the Right Stuff
Do you want to give a large gift to your favorite charity without hurting your cash flow? You do not necessarily have to donate money. For instance, if you hold…
Information About the Upcoming Tax Changes for 2013
The Competitive Edge, Volume 2 Issue 4 | August 2012
Unless Congress takes action, the Bush tax cuts will expire at the end of the year and the individual federal income tax will increase significantly in 2013. In addition, a…
Keeping Records to Protect T&E Deductions
The Competitive Edge, Volume 2 Issue 4 | August 2012
Typically, a small-business owner can realize tax benefits for travel and entertainment (T&E) expenses incurred during the year. But this remains a prime audit target for IRS examiners, so be…
Seven Warning Signs of Fraud
The Competitive Edge, Volume 2 Issue 4 | August 2012
According to recent reports by the Association of Certified Fraud Examiners (ACFE), an estimated 5% of revenue is lost to fraud and embezzlement every year. Surprisingly, small companies with fewer…
What Lies Ahead for Estate and Gift Tax Provisions
The Competitive Edge, Volume 2 Issue 3 | June 2012
When the 2010 Bush tax cut extension was passed into legislation, it also established a temporary federal estate and gift tax regime for 2011 and 2012. But if Congress and…
New Private Company Council to Identify and Vote on Differences in U.S. GAAP for Private Companies
Volume 2 Issue 3 | June 2012, The Competitive Edge
In an effort to improve the standard-setting process for private companies, the Financial Accounting Foundation voted to create a Private Company Council (PCC) to identity differences in U.S. GAAP for…
IRS Issues New Tax Blueprint for Buildings
The Competitive Edge, Volume 2 Issue 3 | June 2012
The IRS recently issued lengthy and complex temporary regulations relating to business repairs and capital improvements. These new regulations cover expenses paid to acquire, produce or improve tangible property. They…
What to Cover in an Employee Manual
The Competitive Edge, Volume 2 Issue 3 | June 2012
If your company started out small but has grown in recent years, you may face new challenges from a human resources standpoint. For example, if you have not done so…