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3 Things Business Owners Should Do by January 31

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It happens every year: We celebrate the new year and then suddenly it’s mid-January. Thankfully, you still have time to complete a few must-do tasks—including the processing of Form 1099s by the January 31 deadline—before the month completely disappears.

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Could Your Food, Beverage, and Agriculture Business Qualify for the R&D Tax Credit?

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Although the R&D credit is for any U.S.-based business that develops, designs, or improves products, processes, formulas, or software—something food, beverage, and agriculture businesses do each day—many have yet to apply for it. Most business owners assume it is only for research labs or large corporations. But this is far from the truth.

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Businesses Must Navigate Year-end Tax Planning with New Tax Laws on the Horizon

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Allocating year-end tax planning time now can prove beneficial come filing time next year. Learn more about the tax considerations your business should be taking into account and what you’ll want to discuss with our Abdo advisors.

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Understanding the Lease Standard: Preparing for the Update and How it will Affect Your Business or Nonprofit

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Join our team of experts as they walk you through the key features of the new FASB Lease Standard (Topic 842), what this ASU will mean for your business or nonprofit financial reporting, and how to ensure a smooth transition to this new compliance standard.

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Cash Flow Beyond the PPP: Why It Matters for Your Business

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As Paycheck Protection Program (PPP) loans run dry, many business owners are wondering what their cash flow will look like in the coming weeks and months. Thankfully, it’s possible to peek into the future to estimate your business’ cash flow.

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How COVID-19 Could Impact Your Qualified Opportunity Fund Investment

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The IRS has issued final regulations to clarify the rules surrounding QOFs and, more recently, guidance for QOFs and their investors in response to the COVID-19 pandemic. If you’ve considered investing in a QOF or are already invested in one, it’s important to understand how the final regulations and COVID-19 updates could impact you.

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Why Welcoming Key Managers into Your Ownership Team Could Make Sense Right Now

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Your key managers are the people who keep your business afloat. They may also be the people to whom you plan to transition your business. If this is true for you, now could be an ideal time to act. Here are a few things to consider if you plan to explore this opportunity.

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Planning to Transition Your Business to Your Kids? Believe It or Not—Now May Be the Time to Act

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For business owners, the economic downturn caused by COVID-19 could present valuable opportunities for business succession, particularly for family businesses. If you’re a family business owner who intends to gift shares of your business to the next generation as part of your estate plan, now may be the time to act.

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When Fraud Happens Right Under Your Nose

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Business owners who fall victim to fraud often ask themselves “how could we have not known about this?” In many cases, the answer is simple: No one reported it. Here’s how you can prevent this from happening within your organization.

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Should you switch to a C corporation?

A recent change in tax rates may cause S corporations to think twice about their entity structure.

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