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Category: Economic Development

March 28, 2017

Remember the New FBAR Filing Deadline

Do you have an interest in — or authority over — a foreign financial account? If so, the IRS wants you to provide information about the account by filing a form called the "Report of Foreign Bank and Financial Accounts" (FBAR). The annual deadline for filing FBARs has been changed. It

February 15, 2017

10 Important Tax-Related Developments for 2016

Several significant tax developments happened last year that may affect federal income tax returns that individual and business taxpayers file in 2017. Here's a quick look at 10 key changes that you should be aware of during this tax season. 1. Stand-Alone HRAs On December 13, 2016 — just over a month

January 24, 2017

Tax Fraud Awareness: How to Protect Your Identity and Assets

The IRS, taxpayers and tax preparers share a common enemy: identity thieves. We all have a part to play in the fight against tax-related identity theft. Your role starts by learning the mechanics and warning signs. From there, taxpayers can take proactive steps to protect their data online and at

September 15, 2016

Loan Applications: Put Your Best Foot Forward

Need a loan to start or expand your business? Nearly a decade after the financial crisis of 2008, many banks remain hesitant about loaning money to start-ups and small business owners. Stricter lending policies often make applying for financing a nerve-wracking and time-consuming process. Here are some ways to give your

July 29, 2016

FAQs about Social Security Retirement Benefits

For years, people have questioned... the long-term viability of the Social Security system. In June, the Social Security Board of Trustees released its annual report on the long-term financial status of the Social Security Trust Funds. It projects that the combined asset reserves of the Old-Age and Survivors Insurance and Disability

July 13, 2016

Avoid Costly Employer Mistakes

Running a business these days is increasingly complex. With employment-related claims and lawsuits on the rise, management must have a basic understanding of numerous federal, state and local laws. Here are three cases that illustrate some employer liability trends. Case #1. Giving a positive reference could cost millions. This court case, involving reference

May 11, 2016

Made in America: The Pursuit of Life, Liberty and Global Opportunities

This election season, Republicans and Democrats don't seem to agree on much. But 95% of voters — regardless of which U.S. presidential candidate they favor — support American-made products. The vast majority of Americans also favor training programs, trade enforcement, tax incentives and a national strategy to support U.S. manufacturing,

December 17, 2015

Develop a Strong Hand to Negotiate Loan Covenants

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

November 12, 2015

Tax Advice for Military Families and Veterans

Members of the U.S. Armed Forces and veterans are required to pay taxes on their income like everyone else. But special rules sometimes apply. Here's an overview of key tax benefits that the IRS provides to military personnel to thank them for risking their lives for our country. Combat Zone Exemption One

September 30, 2015

Guarding Intellectual Property

Your company probably has security systems in place to prevent theft of computers, machines and products, yet you may not be doing enough to safeguard your customer lists, new product designs and marketing strategies. Manufacturers rank second only to high-tech companies as targets of intellectual property theft. "American companies and the