This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business increased by 3.5 cents, to the highest level since 2008. As a result, you might be able to claim a larger deduction for vehicle-related expense for 2019 than you can for 2018. Actual costs vs. mileage…
Tax planning is a year-round activity, but there are still some year-end strategies you can use to lower your 2018 tax bill. Here are six last-minute tax moves business owners should consider: Postpone invoices. If your business uses the cash method of accounting, and it would benefit from deferring income to next year, wait until…
You are forming, or have formed, a company and have selected your entity type; Now – where are you doing business? What state will be your home state? Which other states will you need to get authority to do business in? If your home state is Delaware, you will benefit from the advantageous legal protections…
Keep up with all the latest news from B&C, including important tax & accounting updates, speaking engagements and events, firm developments and more! Read our latest update: https://mailchi.mp/9cb6cacb59cf/bc-connect-with-us-end-of-summer-update Subscribe today!
Bumpers & Company’s own Douglas S. Kook, CPA, CVA will be one of the presenters at the upcoming “Big IDEas for Your Business” Conference on May, 10th at the Sheraton Wilmington South. The Delaware Society of CPAs has designed this one-day conference to assist your business in building a firm foundation for success. Whether you’re a…
Is your bottom line not quite what you’d like it to be? Consider a plan to cut expenses. Begin by running a 5-year analysis on your expenses to determine which accounts have increased the most. Then dive into the details and see which vendors have increased prices at higher rates or percentages over the same…
