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Is My Inheritance Taxable?

Is inheritance taxable, or do you have to pay taxes on an inheritance? The short answer is: YES. Your inheritance is taxable in two ways: estate tax and inheritance tax. But, you're only required to...

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Feb 21, 2022

What Is Cost Basis, and Why Is It Important?

To put it simply, cost basis is the total amount invested in a stock or a property, plus any fees or commission involved in the purchase. It’s recorded by using the dollar amount of the investment or...

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Feb 11, 2022

What Is a Contingency Plan, and What Should You Include In It?

As a business person, you probably face many uncertainties each operating day. Unfortunately, some of these uncertainties may threaten the success and existence of your business. Therefore, you need...

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Feb 08, 2022

Do You Pay Taxes on A Life Insurance Policy?

When it comes to taxes, there are very few hard and fast rules except — you have to pay them. Even so, one of the most frequently asked questions we receive at the MB Group is "Do you have to pay...

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Jan 21, 2022

A Guide to the Domestic Production Activities Deduction

Although many companies are shipping their manufacturing processes overseas for cheaper labor and production costs, the U.S. has created a number of enticing incentives to keep your production...

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Jan 06, 2022

An Update on The Self-Employed Tax Deferral

If you are self-employed, you may have taken advantage of the 2020 CARES Act. You will recall that the act provided tax relief from the economic stress of the COVID-19 pandemic. Employers were...

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Dec 17, 2021

A Little Message from the MB Group: Tax Planning

It’s the MOST beautiful time of the year! Tax planning time! I bet with an intro like that you thought this blog post was going to be all about how magical the holidays can be and, while that is...

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Dec 06, 2021

Quick Small Business Guide to Cash Flow Analysis

No matter your industry or segment, cash is king. However, this king must be managed through a process of cash flow analysis. Very simply, cash flow is the movement of money in and out of your...

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Nov 16, 2021

Balance Sheets: Everything Your Business Needs to Know

A balance sheet is basically a picture of exactly where a business stands at any given moment in time. This paper takes into account what a company has and what it owes to get an idea of whether the...

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Oct 29, 2021

What is Risk Assessment for Small Businesses?

As a small business owner, it can feel at times as if hazards and risks are actively working against your success. While you may encounter similar risks as large Fortune 500 companies, the same...

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