Profit Motive

When taxpayers have high W-2 earnings (in excess of $150,000 for example) coupled with large losses from self-employment activities, it's like waving a big "Audit Me" sign! The IRS' rationale for scrutinizing a tax return with these conditions is that if the taxpayer has substantial income unrelated to the self-employment activity, the taxpayer is more [...]

Business Trips with Customers

Questions: Do you take Customers and prospective Customers on weekend trips to help build your business?  Can you deduct the expense related to these trips from your taxable income? Short Answer: Yes - the expenses related to these trips are a valid tax deduction.  If you keep good records that prove the trips are related [...]

January 25, 2016|Businesses, Tax Advice|

Management Tips – Motivate employees

Here’s our third post in the Management Tips series. To read the earlier posts, click HERE and HERE. Summer weather is here, the sun’s shining, birds are chirping, and you can hear lawn mowers humming down the street. Are you starting to notice that you and your employees seem more interested in getting outside than focusing on [...]

Management Tips – Culture of Accountability

Welcome back!!!  We survived another Tax Season in McMurray, PA! The Franty & Co. team is looking forward to taking a step back from seemingly endless tax returns to focus on technical training and catch up on other accounting work. Don has worked with the Sterling Management Systems since 2003. Franty & Company, PC utilizes the [...]

Management Tips – Avoid Office Distractions

Don Franty has worked with Sterling Management Systems since 2003. Franty & Company utilizes the management techniques and office practices taught by Sterling. This Pittsburgh-based tax practice operates as a well-oiled machine. Our team is critical to our success! Here is a management tip: Avoid Office Distractions In today’s fast-paced work environment, it’s easy to find [...]

January 28, 2015|Management Tips|
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