Choosing the proper business structure isn’t just a legal formality; it’s one of the most critical financial wellness decisions an entrepreneur can make. The structure you select determines how you’re taxed, what liability protection you have, how easily you can raise capital, and what compliance requirements you’ll face as your business grows. As 2026 approaches, […]
Employee Gifts and Holiday Parties: What Is and Isn’t Tax Deductible?
The holiday season is a time for celebration, appreciation, and, if you’re a business owner, essential tax planning. Whether you’re hosting a festive holiday party or handing out thoughtful employee gifts, knowing what the IRS allows you to deduct can make a big difference when tax season rolls around. At Burke CPA and Advisors, we […]
Can a Company Ever Grow Too Fast Too Soon?
Every business owner dreams of growth. More clients, bigger contracts, and increased revenue all signal success. But is there a point where growth becomes risky? Can a company actually grow too fast, too soon? At Burke CPA & Advisors, we’ve seen firsthand how unbridled expansion can strain resources, create financial vulnerabilities, and jeopardize long-term success. […]
PCI Compliance: What it means for your Business
What Is PCI Compliance? The Payment Card Industry Data Security Standard (PCI DSS) is a set of security standards developed by the major credit card companies (Visa, Mastercard, Discover, and American Express) and governed by the PCI Security Standards Council (PCI SSC). The goal is simple: ensure that all companies that process, store, or transmit […]
401(k) Auto-Enrollment: Turning compliance into a competitive edge
Starting in 2025, most new 401(k) plans will have a built-in feature: auto-enrollment. Thanks to the SECURE 2.0 Act, if you’re launching a retirement plan for your business, you’ll likely need to automatically enroll eligible employees, whether they ask for it or not. The goal is simple: help more people save for retirement. However, this […]
Tax Credit Opportunity
Kentucky Small Businesses Do you have a Kentucky business with 50 or fewer full-time employees? Have you purchased over $5,000 in equipment or technology? You may be eligible for substantial tax credits just by doing something you probably already are… growing! The Kentucky Small Business Tax Credit offers between $3,500 and $25,000 per year for […]
Navigating the Diverse World of Business Structures
Over my career, I’ve had the opportunity and pleasure of working with hundreds of businesses. What is no surprise is that no two businesses are the same. When our firm discusses with owners about their business and its unique needs, we often discuss the business structure to make sure that it is set up for […]
U.S. DOL Releases New Overtime Rule – Effective 7/1/2024
On April 23, 2024, the Department of Labor announced its new overtime rule, “Defining and Delimiting the Exemptions for Executive, Administrative, Professional, Outside Sales, and Computer Employees.” Effective July 1, 2024, an executive, professional, or administrative employee must receive a salary equivalent to $43,888 per year in order to be classified as exempt. This income […]
Is It Time – When to Exit Your Business?
Have you been thinking about sitting on a beach in Cabo, or playing golf at Whistling Straits, or spending more time with family. Maybe all three. You invested substantial financial resources, including time away from your family building your business. Is it time to take that next step? Is it time to EXIT? Your family-owned […]
Help Wanted
It’s a challenging time to be an employer. It’s a challenging time to be an employer. That’s not a typo. That’s me anticipating all of you who just thought, ”You can say that again.” Here are some tips for small business owners who are facing these challenges: