Hoyman Dobson
E-ssentials Bulletin
Our newest profitability and wealth accumulation tips for our clients and contacts. Click on items of interest for more details on each topic.
Building Construction
 
 
Don't believe the Hollywood hype that says you can take lavish family trips, and then write off the whole trip as a business expense -- just because you spent a few minutes talking about commercial properties for sale or the high price of credit. You can't. But if you travel for legitimate business reasons and add some leisure time, you should be able to write off part of the trip. Here is an overview of the rules.
 
Family Business
 
 
In a tough economy, there are still some industries that are booming. While everyone else is wondering where the customers went, forensic accountants have plenty of work helping business owners figure out who cleaned out their bank accounts and other assets.
 
General Business
 
 
Managers need to be trained about the dangers of ageist comments in the workplace. Here's a court case that shows the consequences of a comment about an employee's age.
 
Manufacturing
 
 
A budget is one of the most important tools available for driving a manufacturing, distribution or wholesale company to success. A budget communicates management's goals and objectives to every level of the company.
 
Nonprofit Organizations
 
 
While most nonprofits post information about their missions and programs on their Web sites, significantly fewer disclose other key information on the Internet, according to a transparency review conducted by GuideStar, a watchdog group for nonprofit associations.
 
Physician Services
 
 
A critical component to the success of any physician recruitment strategy is the recruitment plan. Here are some tips for what your plan should include.
 
Wealth Advice and Financial Planning
 
 
How are you doing on your financial recovery plan? If you're anticipating your personal government bailout, you may grow quite old waiting. Let's face it: You're the only one who's going to get you out of whatever financial shape you are in currently.
 
Valuations
 
 
As your law firm grows, tax planning may occupy more of your attention than it did when your firm was smaller. Although the dollars involved may increase, the tax issues faced by larger law firms are not significantly different from those faced by smaller firms. Here are six tax issues you'll want to address.
 
Washington Tax Update
 
 
 
 
 
 
 
 
Latest Business Headlines
 
Reuters
 
CNN Money
 
New York Times
 
Fox Business
 
Wall Street Journal
 
Hoyman Dobson Partners with Hayworth, Chaney & Thomas to Present Seminar on Research Tax Credit and Intellectual Property
 
Barbara J. Oswalt, CPA, Tax Director with Hoyman Dobson, and Steve Thomas, Attorney and Partner with Hayworth, Chaney & Thomas, are teaming up to provide a training session for small businesses. The seminar topic is How to Get Your Development Dollars Back From the IRS & Protect Your Intellectual Property Without Breaking the Bank.
Businesses that are:
  • Designing new products, prototypes, models, tools, or fixtures
  • Improving existing products & manufacturing processes through technology
  • Applying for patents
  • Testing new technology or concepts
  • Concerned about protecting their strategic position in their market 
will most benefit from this interactive training seminar.    

"Many local businesses are not aware that recent regulations have relaxed the definition of qualified research activities. As such, many businesses that were not eligible in the past may now be able to take advantage of this federal tax credit," shares Barbara Oswalt, CPA/ABV, CVA, CFF.

The training will be provided at:

TRDA Business Innovation Center in Melbourne:
Date & time: Jan. 13, 2010, 4:00 to 5:30 p.m.
Location: 1050 W. NASA Blvd., Melbourne, FL 32901
Admission: Free
RSVP by Jan. 11, 2010: boregan@trda.org

Space Coast Economic Development Commission in Titusville:
Date & time: Jan.20, 2010, 4:00 to 5:30 p.m.
Location: 2000 S. Washington Ave., Suite 2, Titusville, FL 32780
Admission: Free
RSVP by Jan. 19, 2010: SEDC@Titusville.com 

 

Business Tips
 
Planning for Success - Each year, abandon up to 10 percent of your business that is not aligned with your strategic plan.
 
Wealth Tips
 
Your Estate - Use life insurance to build wealth, to replace assets donated to charity, to leverage gifts to heirs, to grow funds tax-deferred and to fund large lifetime expenses.
 

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The technical information in E-ssentials is necessarily brief. No final conclusion on these topics should be drawn without further review and consultation. Please be advised that, based on current IRS rules and standards, the advice contained herein is not intended to be used, nor can it be used, for the avoidance of any tax penalty assessed by the IRS.
 
© Copyright 2009 CPAmerica International Inc.