The Paycheck Protection Program (PPP) has been a godsend for many pond business owners. Both the original draw in April 2020 and the recently announced second draw in January 2021 were aimed at helping small businesses keep workers on theMore…
Tax Implications of Disposing of Business Property
It is no surprise that many pond professionals fail to understand the tax ramifications of disposing of business property. Under our current rules, which are often confusing and complex, there are numerous ways to dispose of business assets: selling them,More…
Tax Deductions in Digital Marketing
Growing a pond or water-feature business relies on solid communication with both existing and potential customers. Without a solid marketing plan, it is difficult to collect leads, build the operation’s brand or increase sales. As important as traditional marketing hasMore…
Tax Implications of Hiring Independent Contractors
Employers have long preferred to treat workers as independent contractors, reaping payroll tax savings and avoiding any fringe benefits and other expenses associated with employees. By the same token, workers — including the owners of many pond and water featureMore…
Business Travel Tax Deductions and Expenses
Industry events such as the Water Garden Expo in February are a good way to gain know-how, find new suppliers and network with others in the industry. Best of all, Uncle Sam, in the form of our tax laws, isMore…
Attracting Quality Pond Construction Workers with Fringe Benefits
Whether the result of a booming economy, tighter immigration laws or an educational system gone astray, finding qualified pond construction job applicants has become increasingly more difficult for those in this industry. Even more troubling for smaller businesses isMore…
Changes in Pass-Through Income Tax: How Do They Effect You?
Pass-through business entities, garden pond professionals operating as partnerships, limited liability companies (LLCs), S corporations and sole proprietorships have long been extremely popular. In fact, one form of pass-through business entity, the S corporation, is currently the most used businessMore…
Small-Business Tax Tips: Reasonable Compensation
Since 2010, small-business owners have seen a significant uptick in reasonable compensation challenges, as the IRS has increasingly trained its tax examiners to examine payroll tax issues — among them, reasonable compensation. After all, the payment of a salary inMore…
Pond Business | Tips for Last-Minute Tax Savings
Regardless of when you plan, the goal with any planning is to keep the tax bill at a legal minimum, year after year. So, keeping in mind that a garden pond professional’s obligation is to pay their fair share ofMore…
Coming Soon: A Cashless World for Pond Installers
The world is going cashless. Should you?
The continued use of cash is surprising, given its inconveniences and the risk consumers face in carrying it around. Love it or hate it, however, cash is playing an increasingly smaller role in society, especially with pond retailers, distributors, andMore…