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Business Finance

Cash Flow VS Profit – They Are NOT the Same!

August 20, 2015

CASH IS KING! The life blood of any business is its ability to collect cash and pay bills as well as pay its employees, particularly its owners. Far too often small businesses are profitable, but they do not have enough operating capital to meet their current needs. Consequently, they may be forced to sell out […]

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Are Businesses Required to Carry Insurance?

August 18, 2015

Business insurance, like many types of expenditures is one of those items which business owners typically do not like to pay. Sufficient insurance can be as critical to the success of your business as a good product or service. Without proper insurance you could lose all of the money, time and effort you put into […]

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Employee Benefits: How To Handle Them

July 1, 2015

Many companies offer a variety of employee benefits to their staff in order to keep them satisfied. The types of benefits include, but are not limited to, health insurance, retirement plans, vacation and sick leave. This Financial Guide provides an overview of the types of benefits that businesses provide for employees and what’s involved in […]

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7 Biggest Misconceptions Business Owners Have About Their Tax Returns

July 1, 2015

One of the biggest hurdles you’ll face in running your own business is staying on top of your numerous obligations to federal, state, and local tax agencies. Tax codes seem to be in a constant state of flux making the Internal Revenue Code barely understandable to most people. The old legal saying that “ignorance of […]

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Blockbuster Taxes

May 28, 2015

  Matthew Person, CPA David Huff, CPA, PFS, MS Todd Wilson, CPA Person Huff CPA Group 3200 Lake Villa DriveMetairie, LA 70002 (504) 780-8299 Fax 1-800-799-1292 www.personhuffcpa.com Blockbuster Taxes Memorial Day came early this year, and that means we get more time with our summer whites! (Of course, summer doesn’t “officially” start until June 21, […]

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The Original Tax Shelter

May 18, 2015

 New York City is the indisputable hub of American capitalism. Its glittering streets are home to the worlds of finance, advertising, fashion, publishing, and even organized crime. The island of Manhattan is home to some of the richest people on the planet, and they own some of its priciest real estate in the world. You […]

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Social Security Wage Base Increases to $117,000 for 2014

April 1, 2015

The Social Security Administration has announced that the wage base for computing the Social Security tax (OASDI) in 2014 increases to $117,000 from $113,700, which was the wage base for 2013. The $3,300 increase, which is about 2.9%, is due to an increase in average total wages. The Federal Insurance Contributions Act (FICA) imposes two […]

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2015 Health Care Requirements for Small Business- “Obamacare”

March 3, 2015

AFFORDABLE CARE ACT   Obamacare requires a significant amount of new reporting and recording, as of 1/1/2015.  Here are some of the guidelines to which we would like to draw your attention.  This may apply to your company if 1.  you have fewer than 50 employees or 2.  you have fewer than 50 employees but are […]

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New Health Laws Yield New Tax Forms- Part 3

January 28, 2015

If you were uninsured for all of, or part of, 2014, you may have to pay a penalty when you file your return.  There are many exemptions available for this penalty, such as a hardship exemption if you had high medical expenses.  There are also exemptions for brief lapses in coverage or if coverage would […]

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