“Exit strategies should be a part of any business plan and founders should create agreements about what will happen in this case before getting too far into doing business together,” explains Crystal Stranger, president of 1st Tax and author of The Small Business Tax Guide. “Sit down as early as possible to divide up assets… Read More

Quote included: “It surprises me to no end how few programmers have detailed knowledge in multiple languages, and how much garbage code is out there,” adds Crystal Stranger, president of 1st Tax. Please view full article by Kira M. Newman at: http://tech.co/3-reasons-learn-multiple-programming-languages-2015-09?utm_content=bufferba273&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer… Read More

Excerpt: Look at unique benefits Other benefits you can take advantage of every year, such as a pair of glasses up to a certain amount, are easier to estimate than a value that you may never collect on, such as life insurance. In the latter case, use the employer contribution—if any—as an estimate in your… Read More

Excerpt: What happens when you give your customers an outdated solution that doesn’t meet their needs? Chances are, they’ll find a new solution. But, what happens if your clients have no better options? As explained below, you’ll create frustrated clients. “Working in the tax field I see this issue all too often,” says Crystal Stranger,… Read More

Excerpt: Going for a surety bond could subject your credit at risk according to Crystal Stranger of 1st Tax. “I would think that the bond companies would be much more likely to file against your credit or go into a collection process if there is damage,” she says. “Having a third party involved just complicates… Read More

Excerpt: Complications for Practitioners? One enrolled agent said that while the idea of ending NTEU representation at the IRS might appeal to some, the consequences could further impair tax practitioners’ ability to serve their clients. “I can understand the draw of de-unionizing the workforce, in that with lower wages and benefits, it would be possible… Read More

Excerpt: Crystal Stranger, president of tax firm 1st Tax, sees a major strategic benefit to the call for big businesses to be more transparent. “If they are listing how much their pay scales are for employees with varying levels of seniority, it becomes easier to determine pay scales and raise schedules,” Stranger explains. “This is really… Read More

Should You Get a Free Business Checking Account? “Having a separate business account is crucial to protecting your business and personal financial lives,” said accountant Crystal Stranger, president of 1st Tax and author of “The Small Business Tax Guide.”  Stranger explained that if personal accounts are used for business and the business is audited, your personal returns could possibly be audited as well. “This is… Read More