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Monthly Archive for: ‘October, 2016’

There’s No Place Like hb&k: A Halloween Story

10/31/16 by Rachel Godwin For Halloween every year, our Brewton office goes above and beyond to create a theme and dress up. This year, they chose the Wizard of Oz and even wrote an entertaining narrative to go along with their costumes! If you’ve ever wondered about the tax system in Oz or whether Dorothy had to pay use tax …

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3 benefits of donor-advised fund giving

  Charitable giving through donor-advised funds (DAFs) has grown in popularity in recent years. Generally, creating a DAF requires no more than completing a short application and making an initial contribution as low as $10,000 to a sponsoring organization, such as a community foundation. You recommend which charities should receive gifts, and the sponsoring organization takes care of the record …

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Get your 1099 Information Finished Early this Year

It’s never too early to start preparing tax documents If you are a business owner and paid someone who is not a regular employee during 2016, you may need to have a Form 1099 prepared to report wages paid. A Form 1099 will need to be sent to the following: Any independent contractor/vendor who you paid more than $600 to …

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3 keys to strong business financials

  Businesses fail for many reasons — dysfunctional management, insufficient working capital, insurmountable competition. Why they succeed, on the other hand, is often easily explained. Regardless of size and sector, most healthy companies share the following three characteristics when it comes to their financials: 1. Ample revenue You’ve no doubt heard it before, but this cliché is true: Cash is …

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New Department of Labor Overtime Rules… Is your company ready?

hb&k recently joined forces with the South Baldwin Chamber to host a presentation for the Leadership Series on the Department of Labor’s changes to overtime regulations and what that means for small businesses. We’ve made our presentation available here for those who were unable to attend or would like to review the information presented. If you have any questions or …

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Business owners, help your estate by gifting company stock

Everyone needs a solid estate plan to distribute assets according to their wishes and benefit their heirs. But this necessity is especially keen for business owners, many of whom have spent years working hard to build up the values of their companies. If you can relate to this statement, one effective way to reduce estate taxes is to limit the …

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