First Beacon Business Advisory Group

I’m introduced to the owners and leaders of manufacturing and technology-based companies virtually every day and I find it interesting there’s such a large number of businesses that are unaware or unfamiliar with the R&D tax credit and the financial benefits it can provide their companies. In particular, federal and state R&D tax credits allow companies that develop products, processes and software to offset their income taxes by as much as 20% of the costs incurred in their development efforts.

Presently, U.S. manufacturers and technology companies in the know are leveraging R&D tax credits to the tune of $15 billion a year, yet evidence shows that most eligible businesses are leaving substantial tax dollars on the table that otherwise could be reinvested in their businesses.

Most business owners and many business advisors are unaware of the differences that separate a business broker from a merger and acquisition advisor (M&A advisor). It is vital to retain the right type of firm for the sale of any business.

There are different levels of financial support that a business will need over time. Do you need a Bookkeeper, Controller, or  CFO? Which is the right resource for your business will depend on many factors. The first person to whom you should ask this question is your CPA. Your CPA should not be the one filling the role of Bookkeeper, Controller or CFO. Why?

As a business owner, improving profitability is a constant, if not a somewhat elusive, goal. It’s easy to get caught up in the daily fires that consume our time and attention. A disciplined focus on maximizing profits must be our foremost concern as the surest path to business success. Let’s look at five ways that lowering your energy consumption will improve your profitability.

If you’ve set up 401k plans for your employees, or are thinking of doing so, it’s vitally essential that you understand the many facets of your fiduciary responsibility to your employees regarding their 401k plans.