The Proactive Solutions Blog

Blogs by R. David O’Brien

Are you creating an opportunity for fraud?

As business owners, business consultants and certified public accountants for over 35 years, we have witnessed fraud firsthand and have seen fraud in approximately 20%-30% of businesses. Many of these fraud cases were committed by a trusted employee.

Read full post | Posted by R. David O’Brien on 01.08.16

College Students: Be Aware Of Phone Scams

As you settle into your fall semester routine, both the FBI and the IRS want you to be alert for calls from scammers.

Read full post | Posted by R. David O’Brien on 01.08.16

Breakeven analysis helps with business choices

Breakeven analysis is an important and useful tool in business. Whether you're starting a new business, expanding current operations, contemplating an acquisition, downsizing, or approaching banks and other potential lenders, you'll want to know your breakeven. 

Read full post | Posted by R. David O’Brien on 01.08.16

Higher Self-Employment Taxes Coming In 2017

Did you know the national average wage index went up? You might have missed the news, but it's likely you will notice one impact: higher self-employment taxes.

How are the two related? The index is used to calculate the social security wage base, which is the amount of income subject to the 12.4% social security portion of the self-employment tax. When the index goes up, the wage base does too, and more of your income is taxed.

Read full post | Posted by R. David O’Brien on 01.08.16

2017 Section 179 Deduction

In 2017, businesses can expense up to $510,000 of qualified new or used business equipment purchases, with a $2,030,000 annual purchase limit. In addition, new equipment purchased in 2017 may qualify for 50% bonus depreciation. This rate drops to 40% in 2018, so plan your purchasing accordingly.

Read full post | Posted by R. David O’Brien on 01.08.16

Keep Up With Wage Laws

While the new federal overtime rules that were scheduled to take effect in 2016 have been put on hold, perhaps permanently, other wage laws are still around, including those that establish minimum pay levels.

Read full post | Posted by R. David O’Brien on 01.08.16

Manage Business Insurance Costs

Liability, property, vehicles, directors, officers, employees – you can buy an insurance policy for many of the risks your business faces.

Read full post | Posted by R. David O’Brien on 01.08.16

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