Posts by Lucida Tax + Accounting Solutions
Manufacturing Tax Planning: Key Strategies You Should Know
Manufacturing companies operate under a distinct set of federal and Wisconsin state tax rules — many reshaped by the One Big Beautiful Bill Act (OBBBA), enacted in 2025. If you’re a manufacturing CFO or owner, here are three accounting and inventory strategies worth discussing with your tax advisor. If your manufacturing company has average annual…
Read MoreStop Doing Busywork: Automate It with ǪuickBooks
How many hours a week does your team spend on repetitive bookkeeping tasks — entering the same invoices, categorizing the same transactions, chasing the same late payments? Whatifmostofthatjust…happenedonitsown?ǪuickBooks Online has powerful automation features built right in — and most businesses aren’t using them. Here’s what you might be missing: Set up templates for invoices, bills,…
Read MoreWhy the Most Profitable Contractors Obsess Over Job Costing
In construction, profitability isn’t won in the office. It’s won job by job, phase by phase. But too many contractors don’t realize a project went sideways until it’s already over. That’s where job costing comes in — and ǪuickBooks makes it far more accessible than you might think. What is job costing? ob costing means…
Read MoreEmployers: Share This with Your Team — There’s Still Time to Max Out 401(k) and HSAContributions in 2026
With only a few months left in the year, now is the time to remind your employees about anincredible opportunity to reduce their tax burden and build long-term wealth. Here’s what your team needs to know: Deadline: Contributions must come from payroll by December 31, 2026. That meansemployees need to adjust their payroll deferrals now…
Read MoreHow to Prevent Tuition Reimbursement Fraud
Investing in employee education and training is crucial to the long-term success of most companies. In order to remain competitive, many employers offer tuition reimbursement programs to attract and retain talented employees. The programs also provide tax benefits. The vast majority of employees that participate in tuition reimbursement programs comply with their companies’ rules. However,…
Read MoreTake Your Technical Employees to the Next Level
Some students take to mathematics, science and other technical concepts at an early age — and these skills can put them on a path to great careers in business. But, too often, their focused personalities, and the roles in which they’ve been socialized, get in the way of their careers. Savvy business owners with strong…
Read MoreBuild a Strong, Non-Exclusive Board of Directors
A strong board of directors provides financial guidance to a company, develops long-term priorities and elects executives to run the operation. To accomplish these goals, directors need to meet frequently and be able to objectively view how the business is being run. Yet, in family-owned companies, this isn’t always the case. Sometimes boards start out…
Read MoreHow Grandparents Can Give Financial Gifts to Their Grandkids
It’s no secret that parents of young children have a lot of expenses — from nursery furniture and clothes to childcare costs. Parents of older children may be paying for expensive sports teams, tuition and travel. Because parents may be particular about the items and services they buy for their children, it’s sometimes easiest to…
Read MoreStock Splits: Are Two Halves Better than the Whole?
It usually isn’t a good thing for investors when the price of their stock is cut in two. But it may be a positive event when your stock splits. In that case, your shares are worth half of their previous value — but you now own double the amount of shares. In other words, a…
Read MoreHow the ‘Step-Up Basis’ Tax Rules Work in an Estate
When planning your estate, it’s important to understand the “cost” or “basis” for tax purposes that an individual gets in property he or she inherits. This is an area that’s often overlooked when families start to put their affairs in order. he Basics of Basis The basis of property you buy is usually its cost.…
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