by GruffyGoat Team | Mar 21, 2016 | Small Business, Taxes
Startup costs are a special breed of expenses. The definition differs depending on if you’re talking financial accounting or taxes. Market research, legal fees to set up partnership or corporation entities, purchasing operating systems, and other expenses like these...
by GruffyGoat Team | Feb 29, 2016 | Small Business
In the past, if you needed to refresh your retail store or restaurant, you faced a complicated task of figuring out which costs needed to be capitalized and which were able to be deducted. A new safe harbor reported by The Tax Adviser is changing that. IRS is allowing...
by GruffyGoat Team | Feb 18, 2016 | Small Business
Traditional once-a-year performance reviews don’t cut it with Millennials, according to new research reported in an article in Business News Daily. The findings show that Millennials are open to feedback and take improvement goals seriously — but waiting an entire...
by GruffyGoat Team | Feb 9, 2016 | IRS, Small Business
The IRS recently announced that it’s raising the deductible amount for purchases of tangible property without applicable financial statements (AFSs) to $2,500 per item. It used to be that any item over $500 without an AFS had to be capitalized. (For taxpayers with...
by GruffyGoat Team | Jan 29, 2016 | Small Business
Servers at popular low-priced restaurants like Waffle House work just as hard as those as those at 5-star establishments. But they get paid much less. This past May, one patron at a Raleigh, North Carolina Waffle House decided he was going to give an especially...
by GruffyGoat Team | Jan 15, 2016 | Small Business
Not many small business owners know about the High Growth Small Business Job Creation Act that was signed into law in South Carolina in 2013. But some companies in need of funding could greatly benefit from it. The Act was created in order to encourage investment in...