Choosing the best business entity structure post-TCJA

For tax years beginning in 2018 and beyond, the Tax Cuts and Jobs Act (TCJA) created a flat 21% federal income tax rate for C corporations. Under prior law, C corporations were taxed at rates as high as 35%. The TCJA also reduced individual income tax rates, which apply to sole proprietorships and pass-through entities,…

The ABC’s of Reading Your Financial Statements

Does your Accountant teach you how to understand your numbers so it’s meaningful to you and your company? Do you understand the terminology? Do you know your breakeven point and is there a company budget in place? Every owner should be able to determine the strengths and weaknesses of their finances by reviewing the numbers…

Ten Secrets to Achieving Results in Your Small Business

Small business owner and CPA, Edward Hastreiter, sense 1979 has spent more than 34 years consulting with small business owners on how to make their small business successful and profitable. Not only has he worked with thousands of businesses on a monthly basis as a CPA but he also manages a staff of 14 CPA/Accountants…

Tips on How to Develop a Budget for Your Small Business

Tips on How to Develop a Budget for Your Small Business Small businesses have a high mortality rate. One way of reducing the chance for failure is to prepare a budget and a set of financial projections annually. Small business owners cannot just look out the window and come up with pie-in–the sky numbers or…