The Tax Cuts and Jobs Act eliminated the individual mandate requiring individuals to have health insurance or pay a penalty. Some states, however, have instituted their own penalties. In addition this episode also explains how the Premium Tax Credit works.

The Tax Cuts and Jobs Act contains a provision that allows taxpayers to defer significant amounts of capital gains by investing in opportunity some funds. These funds are designed to spur economic development and job creation in distressed communities.

In this episode I address the most typical cash flow issues that arise in small businesses with some suggestions on how to mitigate their impact on your business.

The proper use of a Net Operating Loss can save taxpayers significant dollars. There are, however, a number of hurdles that were thrown in by the 2018 Tax Cuts and Jobs Act. This episode focuses on these new rules.

The purpose of a buy-sell agreement is to facilitate a change in ownership upon the occurrence of certain events. Whether these events are voluntary or involuntary the main objectives of a buy-sell agreement are to make sure remaining owners retain control and departing owners or their families are reasonably compensated for relinquishing their financial interest in the Company.

Most people that start their own business have a passion for their particular product or service, which is what leads to them opening their own business. Many have no idea how to get started and this episode is meant to give you a pathway to opening your business.

Although not typically the first thought on a new owners mind, a business plan will serve as a blueprint on how to run your business and greatly increase your chance for success.

One of the most common questions I am asked is how long must I retain my business records which is normally code for I want to throw some things out and I want you to say it’s okay. This episode sheds some light on this question.

Many individuals use their automobiles in their businesses and this episode extension explains how this is done.

There is always a great deal of discussion on the distinction between short term and long term capital gains and losses. This episode explains how to determine short vs long term capital gain or loss and the tax implication of each.