Welcome to the blog of Holcombe, Holtzclaw & Ravan LLC
Promoting Health, Wellness and Life Giving Community
Wholeheartedness is Power
A unified will is the key to power. When all parts of ourselves are aligned and on board we can decisively move in the direction of our goals. Getting to that place of inner clarity though is no small feat. Internal conflicts are among our toughest battles. We all...
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Protect your nonprofit by cross-training staff
What would happen if one of your managers was suddenly forced to take long-term disability leave? Or an accounting staffer quit without notice? It’s possible that your not-for-profit’s work could come to a standstill — unless you’ve cross-trained your employees....
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Hiring this summer? You may qualify for a valuable tax credit
Is your business hiring this summer? If the employees come from certain “targeted groups,” you may be eligible for the Work Opportunity Tax Credit (WOTC). This includes youth whom you bring in this summer for two or three months. The maximum credit employers can claim...
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Hire your children this summer: Everyone wins
If you’re a business owner and you hire your children (or grandchildren) this summer, you can obtain tax breaks and other nontax benefits. The kids can gain on-the-job experience, save for college and learn how to manage money. And you may be able to: Shift your...
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Don’t let a disaster defeat your nonprofit
Most not-for-profits are intensely focused on present needs, not the possibility that disaster will strike sometime in the distant future. But because a fire, flood or other natural or manmade disaster could strike at any time, the time to plan for it is now. You...
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What type of expenses can’t be written off by your business?
If you read the Internal Revenue Code (and you probably don’t want to!), you may be surprised to find that most business deductions aren’t specifically listed. It doesn’t explicitly state that you can deduct office supplies and certain other expenses. Some expenses...
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Two Provisions for Life’s Uncertainty
One of the biggest challenges in the accounting and financial world is the existence of the unknown future. There is much about life we simply cannot control despite our best plans and predictions. Many outside factors either support or diminish our finances and...
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Employee vs. independent contractor: How to handle worker classification?
Many employers prefer to classify workers as independent contractors to lower costs, even if it means having less control over a worker’s day-to-day activities. But the government is on the lookout for businesses that classify workers as independent contractors simply...
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Casualty loss deductions: You can claim for a federally declared disaster
How entrepreneurs must treat expenses on their tax returns
Have you recently started a new business? Or are you contemplating starting one? Launching a new venture is a hectic, exciting time. And as you know, before you even open the doors, you generally have to spend a lot of money. You may have to train workers and pay for...
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