Tag Archives: irs

When & How to Deduct Business Bad Debts

This week’s article is by Arthur F. Rothberg, Managing Director, CFO Edge, LLC. When diligence in performing credit checks and attempting to collect receivables do not achieve results, it is important to know when and how to deduct business bad … Continue reading

Posted in Accounts Receivable, AR & AP Management, CFO Services, Financial Strategy, Los Angeles, Tax Strategy | Tagged , , , , , , , , , , , , , | Leave a comment

Estate Planning Strategy May Be Targeted by the IRS

This week’s post and linked article are by Michael K. Menerey, Partner, CFO Edge, LLC. Given U.S. population trends around the large number of boomers turning 65 years of age every day, many greater Los Angeles entrepreneurs and owners of … Continue reading

Posted in CFO Services, Estate Planning, Exit Planning, Los Angeles, Retirement Plans, Selling a Business | Tagged , , , , , , , , , , , | Leave a comment

How to Properly Classify Your Workers

One of the biggest financial mistakes a company can make is to misclassify its workers. From your perspective, it might not be a big deal whether those who work for you are classified as employees or independent contractors. But the … Continue reading

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Adopting the 52-53 Week Fiscal Year

In contemporary Western society we are all familiar with the 12-month, 365-day year. This system, known as the Gregorian calendar, was established in 1582 by Pope Gregory XIII to coincide with Earth’s orbit around the Sun. However, while suitable for … Continue reading

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The Byzantine U.S. Tax Code

Take a look at these quotes from press releases and statements made by members of Congress concerning the U.S. tax code (www.house.gov): “The Internal Revenue Code and regulations add up to one million words…nearly seven times the length of the … Continue reading

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