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TAG: Daniel S. Gordon

The one-minute management report

June 15, 2018By
profit growth. Image:

When I look at a set of financials, I want to determine within one minute if the company is profitable and if the revenues and expenses are in line with industry standards. So, how do we create such a report? Start with your chart of accounts Surprisingly, many companies use a generic chart of accounts. These charts are usually created... read more

Web Extra: Tax-planning strategies

November 8, 2017By

In his November 2017 column about yearend tax-planning strategies, Dan Gordon summed up tax planning in four words: “Postpone income; accelerate deductions.” Here are his suggestions to do just that. Strategies to postpone income include: Pushing a large job from this year to next, if there is flexibility with the customer; Pushing the sale of a gain-generating asset into the... read more

Guest Post: Never mind new OT regs, are you classifying employees correctly?

May 24, 2016By

The Department of Labor’s (DOL) new overtime rule, scheduled to go into effect Dec. 1, will hurt, but I don’t think it profoundly changes the way landscape companies do business, unless you’re out of compliance with the current DOL regulations. In working with hundreds of small business owners in the landscape and pest control industries, there is a problem here.... read more

Business Basics: Principles of tax depreciation

February 19, 2016By
Photo: Zabel

Many tax deductions were made permanent and several were extended for two or more years as part of the 2016 omnibus budget bill signed into law late last year. For landscape professionals, the most critical parts of the tax extender law are the Section 179 expensing and the bonus depreciation provision. The big change this time around is the increased Section... read more

Deduct T&E expenses right

February 22, 2013By

Avoid exposing your company to an audit. Is the cost of today’s activities tax deductible?” That’s the question one of my land care clients recently asked me at a fancy dinner after a Green Industry golf outing. Having just been through a tax audit for another client where the Internal Revenue Service (IRS) auditor disallowed most of his travel and... read more