Silver Advantage Alerts
Keeping You Informed
We strive to keep you abreast of the latest news and emerging trends that may impact your business decisions through MichaelSilver’s Silver Advantage Alerts. Explore the latest finance and industry updates below and sign up to receive our alerts directly in your inbox.
2021 Year-End Checklist
As we approach the final weeks of the year, there is still time to minimize your 2021 tax liability and get a jump start on your 2022 tax planning. This year likely brought challenges and disruptions that significantly impacted your personal and financial situation – a continued global pandemic, several significant natural disasters, new tax laws, and political shifts.
2021 Year-End Checklist For Dealers
As another tax year comes to a close, it is time to consider your tax planning opportunities and year-end tasks.
Successful Strategies When Buying a Business
Owning a business and being your own boss can be personally and financially rewarding. Taking a strategic approach to acquiring a business will increase the probability to success.
Business Credit Cards Have Legitimate Uses – Fraud Isn’t Among Them
It seems like more and more forensic accounting cases are focusing on the abuse of business credit cards by all levels of employees. So, what enables these individuals to enrich themselves at will? Oftentimes, it comes down to two preventable factors: deficient internal controls and lax supervision.
Time to Take a Second Look at your Eligibility for the Employee Retention Tax Credit (ERTC)
The Employee Retention Tax Credit (ERTC), originally passed in the CARES Act of March 2020, encourages businesses and tax-exempt organizations to keep employees on payroll during the pandemic.
Reconciliation Bill has Significant Proposed Changes for Estate, Gift, and Income Taxes
As part of the $3.5 trillion reconciliation bill being considered by Congress, multiple far-reaching tax proposals were recently addressed by the House Ways and Means Committee. It is important to note that this proposed legislation could have many substantive changes during the reconciliation process.
Boost Your Organization’s Success – Proper Internal Controls
Internal controls are vital to every organization. These processes can be challenging for smaller organizations because of limited employee numbers and operating budget constraints. Management in small organizations takes on many duties that would ordinarily be separated in larger organizations.
Business Continuation Planning – Is Your Company Prepared?
When COVID locked down the country, many companies had to scramble and implement a disaster recovery plan on the fly. What would the impact be on the business with the unexpected loss of a business owner due to disability or death? Having a proper plan in place when a business owner unexpectedly dies or becomes disabled can have a significant impact on both the survival and value of a company. Having a properly written Business Continuation Plan funded may help minimize the issues caused by the sudden loss of a business’s owner.
Accounting and Tax Considerations for Expanding into the United States
MichaelSilver works with many international companies looking to start or expand their business in the United States. Typically, these companies are successful in their home country. The owners know the United States is the land of opportunity as well as the land of tax traps and legal problems. We share the common goal of wanting these businesses to succeed in their endeavors in the United States and we help them navigate the complexities of the United States’ business world.
Midyear Planning
As we continue to strive toward a post COVID-19 world, we hope that you and your loved ones find yourselves safe and well. We once again navigated a postponed tax filing season, albeit a shorter one, which brought with it its unique challenges as well as some tax saving opportunities provided by continued relief legislation.