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Business Best Practices Archives | Delap CPA


30 Nov

Passthrough Deduction for Advertisers, Marketing and Creative Agencies

November 30, 2018 | By | No Comments

  One of the best opportunities in the new tax law for business owners in the creative and advertising industry is the new passthrough deduction. Called the 199A deduction, this new law allows business owners a deduction equal to 20% of qualified business income passed through to them from sole proprietorships, single-member LLCs, partnerships, and […]

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27 Nov

C Corporation to S Corporation: Why the Hype?

November 27, 2018 | By | No Comments

Note: This article, originally posted March 2, 2017, has been updated as of November 27, 2018, by Benjamin Miller to reflect current rates and to consider the impact of 2018 tax reform. If you are the owner of a closely held C corporation, chances are your accountant has mentioned something to you about converting to […]

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21 Aug

Five Signs You Need an Inventory Reserve

August 21, 2018 | By | No Comments

August 21, 2018 Your inventory could be at the core of what you do. Your inventory might play a supporting role in keeping you and your customers moving forward. For a lot of businesses, inventory is often recorded at what you paid for it and sits on the balance sheet until it’s sold. Naturally, this […]

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20 Apr

Business Valuation: 5 Reasons Why It’s Important

April 20, 2018 | By | No Comments

At some level, we all recognize that we will leave our businesses some day. While you may not yet have a vision for your life after the business, you do understand that your exit from your business is likely to be the largest, most important financial transaction of your life. Does it make sense to […]

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20 Apr

Six Tax Tips for Oregon Short-term Rental Owners

April 20, 2017 | By | No Comments

#1 Keep records, keep records, keep records For most people, their short-term rental is a side project. It’s a way to make a little extra money. The IRS, however, sees it as a business and you should be treating it like one. Keep records of who stayed and for how long, as well as payouts […]

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