Blog

33 Things you need to know about the incoming tax law

Stride Advisors

February 16th 2018

It's official. Congress has ushered through the first major tax overhaul since Ronald Reagan was president.  The measure, which President Trump signed into law on Friday, is about to shake up life for millions of Americans. It will redistribute the country's wealth. It could sway decisions about whether to buy a home, or where to send kids to school. It could even affect when unhappy...

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Tax Reform — Business Pass-through deduction

Stride Advisors

January 21st 2018

With the recent enactment of the tax reform act, here is our explanation of the larger tax changes that might potentially affect your company.  Warning, tax reform makes this more complex.  The bottom line for this provision is that you cannot assume your pass-through entity will qualify for the 20% deduction. We are hoping to get further clarification on the subject in the coming...

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New tax withholding tables are issued

Stride Advisors

January 11th 2018

The IRS on January 11th issued new income tax withholding tables that reflect new tax rates and other changes for individuals implemented by the Tax Cuts and Jobs Act, enacted Dec. 22. Employers should use the updated withholding rules for 2018, putting them into effect as soon as possible but no later than Feb. 15, the IRS said. Until then, employers should continue to use the 2017...

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How Is a Balance Sheet Related to an Income Statement and Cash Flow Statement?

Stride Advisors

December 25th 2017

It can be really difficult for a business owner to step back, take a breath and look at the big picture. One big picture concept that’s important to understand is the connection between these three basic financial reports. If you’re clear about how...

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EVENT: Small Business Innovation Series (January 11, 2017 @ 6:30pm)

Stride Advisors

December 20th 2017

Welcome to Chicagolands very own local small business innovation series. At Stride Advisors, we are known for helping clients take decisive steps in achieving...

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EVENT: Small Business Innovation Series - Tax Reform and Impact on Small Business Luncheon (January 9, 2018 @ 11:30am)

Stride Advisors

December 20th 2017

Tax Reform Luncheon
Stride Advisors is hosting a moderated roundtable discussion on the impact of tax reform for small...

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UPDATE: Five Moves to Make By the End of 2017

Stride Advisors

December 20th 2017

2017 is shaping into an unusual exercise in year end tax planning given the Republicans' massive tax overhaul, which should be signed by President Trump before Christmas Day.  With lower rates potentially next year and some deductions going away or being...

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URGENT: Tax Credit Scholarships Availability Limited

Stride Advisors

December 19th 2017

ACT NOW TO GET A 75% tax credit. (A tax credit is a direct offset to money you owe the state) YOU MUST request the ID letter from the State by Wednesday the 20th to get it by Jan 1st. (State has a...

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Business Use Of Your Car 2018: Two Approaches To Write-Off The Expenses

Stride Advisors

December 19th 2017

If you use your car in your job or business and you use it only for that purpose, you may deduct its entire cost of operation (subject to limits discussed later). However, if you use the car for both business and personal purposes, you may deduct only the cost...

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Employees Will Trust You – Only When You Show Them Trust

Stride Advisors

December 19th 2017

Many employees say they do not feel trusted by their small business owners. When employees don’t feel trusted, workplace productivity and engagement often suffer. It’s up to owners to signal trust in their employees in...

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6 Digital Strategies to Grow Your Business

Stride Advisors

December 19th 2017

With the change and evolution of modern technologies, small and medium businesses are doing everything they can to keep up, which can be said true for the rest of human society. Brick-and-mortar businesses are either changing their business models to an online...

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Cybersecurity; Ten Questions That Must Be Answered

Stride Advisors

December 18th 2017

Almost two-thirds of all cyberattacks are now directed at small business, people. And the thing is, you have a lot to lose. Small businesses store not only their own critical data and information but also customer records...

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Financial Statements 101: How to Read and Use Your Balance Sheet

Stride Advisors

December 16th 2017

Understanding the different types of financial documents and the information each contains helps you understand your financial position, make more informed decisions about your business and grow your post-tax net worth. Let’s take a look at the balance...

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The Basics of a “Like Kind Exchange”

Stride Advisors

December 11th 2017

Whenever you sell business or investment property and you have a gain, you generally have to pay tax on the gain at the time of sale. The IRS provides an exception and allows you to postpone paying tax on the gain...

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Small Business Payroll: In A Nutshell

Stride Advisors

December 4th 2017

Payroll is defined as the total amount of wages paid by a company to its employees and other workers. Your company’s payroll may be your firm’s largest business expense, and processing payroll is complicated. You must collect insurance premiums,...

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Five Common Bookkeeping Mistakes

Stride Advisors

December 1st 2017

For the small business owner, bookkeeping is often seen as one of the necessary evils that we all must face. The tedious and mundane task of bookkeeping can often take up hours and hours of time. Bookkeeping, as mundane as it may appear, is actually your...

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Why is a Balance Sheet So Important?

Stride Advisors

November 27th 2017

Every business owner has a finite amount of time, and successful managers use their available time to achieve better outcomes. Understanding the balance sheet can help you make more informed decisions for your business. If you can...

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10 Steps for a Beautiful Month-End Close

Stride Advisors

November 7th 2017

Closing your books every month is an important task that should be part of your bookkeeping routine. By closing your books on a monthly you will cleaner books, be more organized, and be ready for filing taxes.
Follow these 10 Steps when...

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How Great Organizations Do Ordinary Things in Extraordinary Ways

Stride Advisors

October 27th 2017

Book Summary: Simply Brilliant, William C. Taylor © 2016
Many people assume spectacular business success accrues only to innovative, high-tech or Internet companies – think Apple or...

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Are You Executing on the Basics of Financial Planning?

Stride Advisors

October 20th 2017

People with a financial plan are significantly more likely to describe themselves as living comfortably and overall feel more confident about navigating their financial future. Let’s revisit the basics of financial planning—a good thing to do no matter where...

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Three Reasons You Need to Outsource Payroll

Stride Advisors

October 15th 2017

While some businesses choose to process payroll internally, an increasing number of small businesses have come to prefer the expertise of full service payroll providers.
1. Time...

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A Simple Guide to Understanding Your Profit and Loss Statement

Stride Advisors

October 10th 2017

Entrepreneurs start organizations because they are passionate about their business and are not completely comfortable interpreting their monthly financial...

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