Small Business Blog

Accounting and payroll resources for small business owners.

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Valuable Business Articles & Updates

Two people making a deal with real estate

3 min read

Six Reasons to Separate Real Estate from Your Business Assets

When businesses acquire real estate, they often title it under the company name. Although this might seem straightforward and logical, it's not...

toy airplane sitting on a map

3 min read

From Flights to Meals: A Guide to Business Travel Tax Deductions

As a business owner, you may travel to visit customers, attend conferences, check on vendors, and for other purposes. Understanding which travel...

small business owner working on her bookkeeping

4 min read

Business Owners: Beware of the Limits on Deducting Losses

Even successful businesses occasionally incur losses. Start-ups and expanding businesses often have unprofitable years, and unexpected events like...

accountant's hand typing on a calculator

2 min read

How Businesses Can Prepare for and Respond to an IRS Audit

The IRS has been increasing its audit efforts, focusing on large businesses and high-income individuals. By 2026, it plans to nearly triple its audit...

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2 min read

Which Leadership Skills are Essential to Strategic Planning?

Businesses need to engage in some form of strategic planning to help ensure continued stability and profitability. A recent survey by insurance giant...

small business store on a street corner

2 min read

Why an LLC Might Be the Ideal Choice for Your Small to Medium Size Business

Choosing the right business entity is a key decision for any business. The entity you pick can affect your tax bill, personal liability, and other...

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1 min read

2024 Q4 Tax Calendar: Key Deadlines for Businesses and Other Employers

Here are some key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2024. Keep in mind that this list isn't...

yellow background with cutouts of people in white and a blue person inside of a magnifying glass

4 min read

Department of Labor Updates Rules on Worker Classification

Navigating Worker Classification: How to Keep Your Small Business on Track with the Department of Labor's New Rules If you're a small business owner...

tip jar filled with money and coins on a table

3 min read

Paying Out Tips - Daily, Weekly, Payroll?

Do you remember your first day of work at your job? I remember being equally excited for the new adventure and anxious about how well I would do. I...

employment contract on a desktop with two people shaking hands

4 min read

Hiring Employees: 7 Tips to Help Attract the Best

In today's labor market, some small businesses — including restaurants, delivery services, retail stores, and manufacturers — struggle to attract and...

tipped money on a table for a restaurant worker

3 min read

IRS Explains the Differences Between Tips and Service Charges

Employers in restaurants, hotels, casinos, and other service industries must comply with the tax rules associated with tips. To assist them, the IRS...

houses on top of financial reports with a magnifying glass

3 min read

Tax-Smart Way to Hold Investment Real Estate

Real estate can be an attractive long-term investment. However, the legal entity you select to own property can have important tax implications....

payroll records in file cabinet

3 min read

How Long Do You Have to Retain Payroll Records?

The Social Security Administration and the IRS have issued a joint publication that offers valuable pointers for employers who want to clean up their...

BOI logo and reporting requirements

3 min read

Most Small Businesses are Required to Report "Beneficial Ownership Information" (BOI) to Feds by the end of 2024

The Corporate Transparency Act (“CTA”) was enacted into law and requires most businesses to report certain “beneficial ownership information” (“BOI”)...

2 min read

Federal Tax News for Individuals

529 Accounts are not Just for College It's still summer, but it won't be long until school bells will be ringing again. If you've set up Section 529...

board with a target on it with

2 min read

Strategic Planning for Businesses Needs to Include Innovation

When the leadership teams of many companies engage in strategic planning, they may be inclined to play it safe. And that’s understandable; sticking...

Yellow background with blocks in the foreground that spell c-o-s-t and a downward arrow

2 min read

Three Areas of Focus for Companies Looking to Control Costs

Controlling costs is fundamental for every business. However, the location and method of addressing this challenge can change over time based on...

road sign that reads

3 min read

How to Protect Your Business from Payroll Fraud Schemes

Payroll fraud threatens any business that pays employees or contractors. Unfortunately, this type of financial crime can go undetected for...

image of a store window with a sign that reads

2 min read

Closing a Business Involves a Number of Tax Responsibilities

While many facets of the economy have improved this year, the rising cost of living and other economic factors have caused many businesses to close...

Couple sitting at table working on their tax information

7 min read

Seven Midyear Tax Planning Tips for Individuals

Summer is a good time to reflect on tax planning moves that could lower this year's tax bill. It appears there won't be any significant federal tax...

Hand typing numbers on a calculator

3 min read

Deducting Start-Up Costs for Federal Tax Purposes

There's been a significant increase in new business applications in recent years. Finance company NerdWallet estimates that 2.8 million new business...

cash boxes in a line across yellow background

2 min read

Four Ways Businesses Can Better Control Cash Flow

From the minute they open their doors, business owners are urged to monitor cash flow closely. For good reason, even companies with booming sales can...

couple sitting at their small business working on a laptop

6 min read

What Can Your Small Business Do Now to Lower Taxes for 2024?

Summer is a good time to take stock of how your small business is doing this year and consider options for reducing your 2024 federal income tax...

2 min read

Be Aware of the Tax Consequences of Selling Business Property

You should understand the tax implications if you’re selling property used in your trade or business. Many complex rules can potentially apply. To...

magnifying glass hovering over blocks with outlines on them

2 min read

Know Your Hiring Costs

At some point, all business decisions come down to dollars and cents. How much will it cost to implement a particular program, and what's the...

Coding numbers on a virtual screen

2 min read

Businesses Must Face the Reality of Cyberattacks

With each passing year, as networked technology becomes more and more integral to how companies do business, a simple yet grim reality comes further...

Steps that lead to an illuminated lightbulb

2 min read

Three Ways Business Owners Should Look at Succession Planning

Business owners are rightly urged to develop succession plans so their companies will pass on to the next generation, or another iteration of...

Moving box with various items on top of it

3 min read

Moving Your Business? Keep Employees Well Informed

Moving is widely considered one of life's most stressful events — and that's just going from one residence to another. Imagine moving an entire...

Road signs with Plan A through E on them

5 min read

Smart Tax Planning Pays Off

If you're financially successful or expect to become so, taxes are or will become one of your biggest expenses — and most people want to minimize...

Six Things Restaurant Owners Should Look for in an Accounting Service Provider

2 min read

Six Things Restaurant Owners Should Look for in an Accounting Service Provider

Running a restaurant can be challenging, to say the least. Handling finances while managing day-to-day operations can be overwhelming. That’s why...

2 min read

Growing Your Business with a New Partner: Here Are Some Tax Considerations

There are several financial and legal implications when adding a new partner to a partnership. Here’s an example to illustrate: You and your partners...