Resources & Insights from the Verian Team.

reduce the temptation of theft

Reduce the Temptation for Theft September 20,  2019 You may find that shrinkage — the variance between physical inventory counts and amounts recorded in your company books — can often be a primary cause in declining profits. This is especially true if your inventory...

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Third Quarter Estimate Taxes Due

Reminder: Third Quarter Estimated Taxes Due September 9,  2019   Remember, you are required to withhold at least 90 percent of your current tax obligation or 100 percent of last year’s obligation.* A quick look at last year’s tax return and a projection of this...

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Money Saving Strategies for Your Business

Money Saving Strategies for Your Business September 5,  2019 Review Employee Benefits You may bolster payments for certain employee fringe benefits (health insurance premiums, educational assistance and transportation costs, for example) to reduce taxable income and...

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Help Older Adults Stand Up Against Scams

Help Older Adults Stand Up Against Scams September 17,  2019 The Consumer Financial Protection Bureau recently reported in financial exploitation cases that older adults lost an average of $34,200. Unfortunately, these funds are often never recovered. You can ensure...

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Make the Most of your 401(k) Plan

Make the Most of Your 401(k) Plan August 21,  2019 Start Early. A 25-year-old employee who saves $300 a month will accumulate over $1 million by age 65 (assuming an 8% annual rate of return). By waiting ten years and still investing the same amount ($300 a month),...

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9 Tax-cutting Strategies for Individuals

9 Tax-cutting Strategies for Individuals August 16,  2019 1. Maximize Deductions. If you find you're not able to use all of your itemized deductions these days, you're not alone. Several of the deduction categories must meet thresholds before you can take any...

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avoid the pitfalls of selling property to family

Avoid the Pitfalls of Selling Property to Family August 13,  2019 Suppose you own property you intend to transfer to your loved ones. Perhaps you are considering giving your children an ownership interest in your principal residence. Before you act, you should review...

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Smart Tactics to Manage Student Debt

Smart Tactics to Manage Student Debt August 8,  2019 According to the Federal Reserve, U.S. student loan debt is now $1.5 trillion with more than 44 million borrowers. Only mortgage debt currently has bigger numbers among types of consumer debt. Even worse, more than...

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Effective Mid Year Tax Planning

Tax Planning in July?   Mid-summer Planning Can Get You on the Right Track.  July 8,  2019   With summertime activities in full swing, tax planning is probably not on the top of your to-do list. But putting it off creates a problem at the end of the year when...

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Payroll Fraud Schemes

Payroll Fraud Schemes Every Business Should Know June 11,  2019   According to the Association of Certified Fraud Examiners, nearly 30 percent of businesses are victims of payroll malfeasance, with small businesses twice as likely to be affected than large...

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Bookkeeping Elements

Four Key Elements of Great Bookkeeping June 4,  2019   If properly executed, your bookkeeping system will turn out accurate financial statements that can be used for several tasks - financial reporting, budgeting, forecasting, raising capital, applying for a...

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Homeowner Tax Break

The Homeowner Tax Break May 17, 2019   There is large tax break that allows you to exclude up to $250,000 ($500,000 married) in capital gains on the sale of your personal residence. But making the assumption that this gain exclusion will always keep you safe from...

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Tax-filing Record Retention

Your Guide to Post Tax-filing Record Retention May 6, 2019   If the IRS or state revenue department selects your return for review, you will need to be prepared. Here is what you need to know: Keep a Copy of Your Form 1040 Indefinitely Do not toss or destroy any...

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Flow-through Entities

Flow-through Entities What are They? Why Should You Care? May 14,  2019   As a business owner, you have a number of options on how to organize your business for tax purposes. Many small, single owner, businesses are not incorporated, and are deemed "sole...

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Tax Planning for Life Changes

Tax Planning for Life Changes May 1,  2019   Effective tax planning helps you make smart decisions now to get the future outcome you desire - but you need to make sure you don't miss anything. Forget to account for one of these situations and your tax plans...

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Paying Taxes

Payment Arrangements for Taxes April 8,  2019   If you owe taxes on your 2018 tax return, the due date to make the payment is Monday, April 15. Miss this deadline by just one day and the IRS will charge you interest and penalties! Don’t risk adding...

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Deductions for Non-Itemizers

Deductions for Non-Itemizers April 4,  2019   A common misconception in tax filing has been that if you use the Standard Deduction versus itemizing your deductions you have few additional benefits available to reduce your tax bill. This is often not the...

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Ratios and Reports

Ratios and Reports: Beyond the Financial Statements April 23,  2019     In addition to the traditional financial statements, you will want industry specific reports to allow you to compare your company's performance to that of others. You will also want...

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Tax Tips for Investors

Tax Tips for Investors April 9,  2019   1. Capital Gains Carry a Special Favored Tax Status. The tax rates on long-term capital gains are lower than the rates on ordinary income (such as wages and business income). Consider putting more of your...

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Tax Day Questions

5 Questions to Ask as the Tax Deadline Approaches April 3,  2019    1. What Happens if I Don’t File On Time? There’s no penalty for filing a late tax return after the deadline if you are set to receive a refund. However, penalties and interest are due if...

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Tax Tips to Retire Early

Tax Tips to Aid in Retiring Early March 25,  2019   1. Maximize Tax Advantaged Retirement Accounts. Retirement accounts like Traditional IRAs and 401(k)s allow qualified taxpayers to save pre-tax money, invest the funds, and not pay taxes until the funds are...

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Knowing the Rules of Capital Gains and Dividends

Know the Rules of Capital Gains & Dividends March 14,  2019   Capital Gains and Dividends are subject to a number of different tax rates. Because of this, know the rules can be a great way to cut your tax bill. Dividends For most taxpayers, qualifying...

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Ten Tax Tips for Individuals

Ten Tax Tips for Individuals March 6,  2019     1. Reduce Your Consumer Debt. The interest you pay on consumer debt is not deductible. Consider shifting consumer debt to a home-equity loan (where available and not to exceed $100,000) to...

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Filing a Federal Tax Return

Federal Tax Return Exceptions Do you need to file a Federal tax return? March 4,  2019   One of the more common tax questions is whether you need to file a federal tax return this year. The answer is: it depends. But not filing a tax return when you should...

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Homeowner Tax Forms

New Tax Rules: Creating Confusion for Homeowners February  15,  2019   Because of new laws many home related tax rules have changed and now require you to prove how funds are used to qualify for a deduction. This is catching many taxpayers by surprise. So when...

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