In total, we published 44 blog posts in 2017. While we received positive feedback throughout the year, a few posts were particularly popular with our readers.
Here are the top five posts from the Center for Private Company Excellence blog in 2017:
1. Issuing Stock to Employees - Not Always Such a Good Idea!
Business owners will often offer their employees—key or otherwise—shares of stock in the company. This is typically done in lieu of additional cash compensation, to motivate behavior changes, to reward employees for their part in creating value, or for retention purposes. Employees often desire stock ownership to feel part of the organization and to be rewarded both short- and long-term for their efforts. But while issuing stock to employees can sometimes accomplish everyone's goals, the process is full of pitfalls and unintended consequences.
2. What Would the White House's Proposed Tax Reform Mean for You and Your Business?
On Wednesday, April 26, 2017, the White House issued “2017 Tax Reform for Economic Growth and American Jobs” which outlined its goals and high-level components of proposed tax cuts. While there has been a lot of back and forth with the proposed tax reform legislation since this post was originally published in April, one thing hasn't changed: it was one of the most talked-about topics of 2017.
3. Using Your Car for Business? Be Careful of Tax Deductions and Recordkeeping
A common issue in closely-held businesses involves the use of vehicles to carry out business-related functions, the limitations that can apply on the amount of related tax deductions, and the burden of maintaining the appropriate documentary records. A tax court decision issued last November (Gary F. Roy v. Commissioner, T.C. Summary Opinion 2016-77) highlights the potential trouble you can get into with the IRS on this point.
4. Revisiting Your Choice of Business Entity in a Post-Tax Reform World
Amidst the various tax reform proposals created by the House and Senate this year, one of the areas of high importance to closely-held business owners involves the tax treatment of pass-through entities. A common question we're getting from many current pass-through business owners is whether they should continue with pass-through classification if a lower tax rate can be realized by switching to a non-pass-through C-Corporation.
5. Money or Family Legacy? Observations from My Father and My Clients
Earlier this year, the author's father turned 67. Instead of expecting gifts or a party from his family, he turned the tables and sent a very heart-felt thank you letter to the author and his two brothers. At the core of the letter was a reflection on the blessings he has in life – in particular his family – and a single deeply-rooted belief.
Are there any topics you'd like to see featured in upcoming blog posts? Share in the comments.