How do firms choose their cost structure? What is the nature and function of scales of operation? What are sources of functional and dysfunctional scales of operation? These policy questions relate to the optimal overhead of a business enterprise-the appropriate mix of expenditures that maximizes the return on investment and shareholders’ wealth while minimizing the…
Fortune magazine once published an article entitled “The Best Advice I Ever Got.” It was a great article that offered wit and wisdom about achieving business success. I liked it so much, that it motivated me to produce my newest book, Leadership:Best Advice I Ever Got, which describes the best leadership advice 136 successful CEOs,…
The world of a military fighter pilot is fast-paced, thrilling, and absolutely unforgiving. There’s little margin for error, as a single mistake could be disastrous. The world of a business owner is also fast-paced and thrilling. And while you can probably get away with making a single mistake, make a series of poor judgement calls…
The real secret of a success is simple: Do something about your ideas. Each of us has seen a new idea and said, “Why, I thought of that a year ago.” We say it with scorn, but we should direct the scorn at ourselves, not at the person who had the drive to do something…
Our relationships give us the comfort we need. Our relationships also give us pain. A relationship can work in both the ways and either way it affects our career and business success. Let us see how? Why Relationships? We relate with someone because otherwise we feel incomplete. We need a person to share our life.…
And did you know the IRS is substantially increasing its audits of small businesses? Or that a welfare benefit plan can make your estate, business succession, or buy-sell plan tax deductible? You can even have a welfare benefit plan in addition to a retirement plan. Not only that, but medical expenses reimbursed to employees are…
The IRS has announced that it will extend the filing season until Monday, May 17, 2021. This one-month extension is for filing and payment. Thank you in advance for your patience while we work on the federal and state software updates related to this filing deadline change, such as due dates, payment debit dates, and filing instructions.…
IRS highlights higher penalties for some tax returns filed after Sept. 14 WASHINGTON — The Internal Revenue Service today urged individuals who owe taxes but have not yet filed for 2019 to act now to avoid higher penalties that, by law, start after Sept. 14. The tax deadline was July 15 this year. Taxpayers who…
Some taxpayers earn income not subject to withholding. For small business owners and self-employed people this can mean making quarterly estimated tax payments. Anyone in this situation should check their withholding using the “Tax Withholding Estimator” on IRS.gov. If the estimator suggests a change, the taxpayer can “submit a new Form W-4” to their employer.…
The Team at Hartman accounting is always scouring the web to find resources for you to use.We encourage our clients to facilitate all the free aids that IRS.govoffers. https://irs.gov/ You can register to access all of your tax records, downloadtranscripts, see all correspondence sent to you, and transaction historyof payments and refunds. There’s accurate information…