jim@jamesotaylor.com
>

Categories for Blog

  • Year-End Tax Planning Tips for Individuals and Businesses

    Posted Date December 1, 2021 Posted Time 12:00 am Published in

    🖨 Print⏱ 3 min readHere we are again, nearing the end of another year. While the tax deadline for 2021 isn’t until April 2022, now is the time to plan and make some strategic moves to optimize your tax situation. Below we’ll look at some tax planning ideas for both small businesses and individuals. Business Tax Planning Business owners should consider a few potential planning areas. Below we’ll look at a handful of relevant topics. Section 163(j) Interest Expense Limitation Businesses can deduct interest expenses, subject to a limit at 30 percent of adjusted taxable income (ATI). The calculation for... View Article

  • 10 Ways to Pay Off Student Debt Faster

    Posted Date November 1, 2021 Posted Time 12:00 am Published in

    🖨 Print⏱ 4 min readIf the thought of paying off your student loan causes a bit of anxiety, worry no more. Here are some ways to pay it off faster. Check them out. Sign Up for Auto-Pay This might seem like the most obvious thing to do, and yet, some alums don’t take full advantage of it. The psychology of this works well. When you decide to put your payment on auto-draft, you never miss it. You get used to living on a certain amount of money. Better still, there are lenders who offer refinancing at lower rates, ranging from... View Article

  • Flood Insurance: Insuring Your Home

    Posted Date November 1, 2021 Posted Time 12:00 am Published in

    🖨 Print⏱ 3 min readDid you know that homeowner’s insurance doesn’t cover flood damage? Because of this, homes located in a Special Flood Hazard Area (SFHA) are required by lenders to purchase a separate flood insurance policy. However, there are millions of homes at risk that also experience periodic flooding but are not located in the most hazardous zones. Regardless, any homeowner can purchase flood insurance and the good news is that, for some, rates will be reduced this year. Starting on Oct. 1, the National Flood Insurance Program (NFIP) launched a new program called Risk Rating 2.0. This program... View Article

  • Increasing the Debt Limit, Extending Government Funding, and Protecting Vets, Veteran Moms and the Capitol Police

    Posted Date November 1, 2021 Posted Time 12:00 am Published in

    🖨 Print⏱ 3 min readIncrease of Public Debt Limit(S 1301) – This bill was enacted on Oct. 14 in order to increase the public debt limit. The debt was increased by $480 billion, the amount projected by the Treasury Department to be needed through early December in order to avoid surpassing the public debt limit. Had this stopgap legislation not been passed, it would have created the potential for a severe economic crisis in which the government would have run out of money to pay back existing debts, government salaries and other pre-existing obligations. The bill was initially introduced by... View Article

  • Why you should automate your accounts payables

    Posted Date November 1, 2021 Posted Time 12:00 am Published in

    🖨 Print⏱ 4 min readAccounts payable (AP) is a crucial function to any business, as errors in the process put a company in problems. Although many businesses still use manual methods as they find the system to work fine, it requires a lot of precision from the accounts payable team. There are better – and more efficient – ways to manage AP through automation. Challenges of the Process  An AP team is responsible for receiving invoices, reviewing invoices, approving invoices, and paying suppliers and vendors. Some AP departments also handle other functions, depending on the nature of the business. However,... View Article

  • How to Develop Company Travel Policies Post-COVID

    Posted Date November 1, 2021 Posted Time 12:00 am Published in

    🖨 Print⏱ 5 min readAccording to a recent U.S. Travel Association forecast, only about one-third of companies are requiring their employees to travel. With business travel still at a low, how can companies develop a travel policy that reduces the risk of COVID-19? Occupational Safety and Health Administration When it comes to business travelers, whether employees are traveling domestically or internationally, OSHA recommends employers consult the Centers for Disease Control and Prevention (CDC) for guidance. Travel Guidance The CDC advises against traveling internationally if someone is not vaccinated, is exposed to, sick with, tests positive and/or is waiting results from... View Article

  • Potential New Tax on Stock Buybacks and What it Could Mean for the Financial Markets

    Posted Date November 1, 2021 Posted Time 12:00 am Published in

    🖨 Print⏱ 3 min readPresident Biden’s latest spending bill could result in a new tax on corporate stock buybacks. In its most recent incarnation, the Senate version of the plan includes a 2 percent excise tax on stock buybacks. Still, this isn’t enough for many critics of stock buybacks, who claim they incentivize short-term behavior in lieu of long-term investment. Short-Term Incentives Stock buyback programs have long been criticized for giving a short-term boost to share prices with funds that could have been used for long-term investment instead. Critics, including the current president, believe stock buybacks come at the expense... View Article

  • Strategies for Paying Off Student Loans

    Posted Date October 1, 2021 Posted Time 12:00 am Published in

    🖨 Print⏱ 3 min readToday, 70 percent of college students graduate with an average of $30,000 in student loan debt. The average payment is nearly $400 a month and will take about 20 years to pay off. On an individual level, paying off high debt can delay hopes of saving to buy a house, start a family, launch a business or invest for retirement. On a broader level, the national burden of student debt could impact America’s economic future. When young adults are unable to afford home ownership, that reduces spending on all types of consumer products that accompany home... View Article

  • Enhancing Agency Budget Transparency, Opportunities to Study Science and Environmental Protections

    Posted Date October 1, 2021 Posted Time 12:00 am Published in

    🖨 Print⏱ 3 min readCongressional Budget Justification Transparency Act of 2021 (S 272) – This bill mandates that federal agencies must make budget justification materials publicly available online. The Office of Management and Budget will be required to publish details regarding the agencies that submit budget justification materials to Congress and dates the materials are posted online, along with links to the materials. The bill was introduced by Sen. Gary Peters (D-MI) on Feb. 8, passed in the Senate and the House on Aug. 23 and is awaiting enactment by the president. National Science Foundation for the Future Act (HR... View Article

  • Mistakes to Avoid When Implementing Business Accounting Technology

    Posted Date October 1, 2021 Posted Time 12:00 am Published in

    🖨 Print⏱ 4 min readChoosing to implement new technology for your accounting needs is a big step toward improving your business. Accounting technology helps streamline the accounting system, thereby offering various benefits. However, poor implementation can impact your business negatively. To make your implementation a success, there are several mistakes that you must avoid. Importance of New Accounting Technology  Before looking at the potential mistakes, it is important to understand why businesses implement new technologies. Technology advancement has played a great role in various life and business aspects. In businesses accounting, technology such as computerized systems help easily track and record... View Article

Recent Comments

    Copyrights @ 2026 James O. Taylor