This article will provide insight on employee stock ownership plans (ESOP) and how they can be an option for succession planning for transportation companies. An ESOP can provide many benefits, such as tax savings for owners and the business and increasing the culture of ownership by involving employees who have shown service and loyalty.
n industry is growing steadily, and changes come quickly and unexpectedly. Therefore, it is crucial to have a good understanding of your business’s financial standing and maintain sound accounting systems.
Learn about the Tax Cuts and Jobs Act (TCJA) and common tax deductions that can help businesses in the transportation industry.
Using a budget is crucial in driving your transportation company’s financial future, but many businesses wonder how to get started. According to IBISWorld reports, one of the top success factors for a transportation company is adequate cost controls and budgeting.
The transport of people and products often has varying considerations when it comes to state sales tax implications. Sales tax is assessed on some items, but not others.
As we approach another tax season, let’s take a moment to recognize a few popular ways to save money. This article will address some of the most common ways our transportation industry clients save money on their tax bill.
We presented at the Minnesota Charter Bus Association annual conference about recent tax and accounting changes. Download the presentation here.
For a majority of owners, their business is their most valuable asset. Financial security for owners in the long run heavily depends on maximizing value and, at some point, converting that asset to cash.
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