2 min read
Can You Turn Business Losses into Tax Relief?
Even well-run companies experience down years. The federal tax code may allow a bright strategy to lighten the impact. Certain losses, within limits,...
2 min read
4 Ways Business Owners Can Make the Leadership Connection
To get the most from any team, its leader must establish a productive rapport with each member. Of course, that’s easier said than done if you own a...
4 min read
Don't Let Quarterly Estimated Tax Payment Obligations Catch You Off Guard
If you're self-employed, run your own small business, or have rental or investment income, there's a good chance you must make quarterly estimated...
2 min read
Corporate Business Owners: Is Your Salary Reasonable in the Eyes of the IRS?
Determining “reasonable compensation” is a critical issue for owners of C corporations and S corporations. If the IRS believes an owner’s...
2 min read
Cost Management is Critical for Companies Today
Many business owners take an informal approach to controlling costs, tackling the issue only when it becomes an obvious problem. A better way to...
2 min read
6 Ways Employers Can Address Payroll Costs During Economic Uncertainty
Payroll is one of the biggest costs for most small to midsize employers. If this holds true for your organization, you may be looking at the year...
2 min read
6 Essential Tips for Small Business Payroll Tax Compliance
Staying compliant with payroll tax laws is crucial for small businesses. Mistakes can lead to fines, strained employee relationships, and even legal...
3 min read
FinCEN-Related Fraud Heats Up: How to Avoid Getting Burned
The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) recently identified an increase in fraudsters using the bureau's...
2 min read
Business Owners Should Get Comfortable with Their Financial Statements
Financial statements can fascinate accountants, investors, and lenders. However, for business owners, they may not be real page-turners.
3 min read
Planning for the Future: 5 Business Succession Options and Their Tax Implications
When it’s time to consider your business’s future, succession planning can protect your legacy and successfully set up the next generation of leaders...
4 min read
Dispelling 10 Federal Tax Myths and Misconceptions
In the complex world of federal taxes, myths and misconceptions can lead to costly mistakes and missed opportunities — especially for business owners...
5 min read
Is Your Venture a Partnership for Tax Purposes?
If you're involved in a business or investment venture with one or more co-owners, you may have an unintended partnership for federal income tax...
2 min read
Questions About Taxes and Tips? Here Are Some Answers for Employers
Businesses in certain industries employ service workers who receive tips as a large part of their compensation. These businesses include restaurants,...
2 min read
How to Evaluate and Undertake a Business Transformation
Many industries have undergone monumental changes over the last decade or so. Broadly, there are two ways to adapt to the associated challenges:...
1 min read
TMA Accounting Named One of Indiana’s Best Places to Work
At TMA Accounting, we believe that a strong team culture is the foundation of exceptional service. That’s why we’re thrilled to announce that we have...
2 min read
So Many KPIs, So Much Time: An Overview for Businesses
Business owners are urged to monitor performance using key performance indicators (KPIs) from the moment they launch their companies. And for good...
4 min read
Insights Into Small Business Bankruptcies
Many U.S. businesses filed for bankruptcy last year. Through the end of the third quarter of 2024 (the latest available statistics at this writing),...
1 min read
Avoid Mixing Personal and Business Accounts
Small business owners and independent contractors always look for ways to save time. If you run your own business (or want to start one), having a...
5 min read
Ready, Set, File: 8 Tax Deductions You Might Not Know About
Years ago, many taxpayers itemized deductions instead of claiming the standard deduction. However, fewer taxpayers are itemizing today due to a bevy...
2 min read
Important Tax Figures for 2025
Every year, the amounts allowed for various federal tax benefits are subject to change based on inflation adjustments and legislation. This chart...
2 min read
Embrace the Future: Sales Forecasting for Businesses
So, how are sales looking for next year? It’s not a rhetorical question. Your business should be able to look ahead and accurately estimate how its...
2 min read
Operating as a C Corporation: Weigh the Benefits and Drawbacks
When deciding on the best structure for your business, one option to consider is a C corporation. This entity offers several advantages and...
2 min read
Growing the Business Means Supporting Your Managers
Many different shortcomings can hold back the growth of a company. Some are obvious, such as poor cash flow management or flawed strategic plans....
5 min read
2025 Tax Outlook for Businesses and Their Owners
The Republicans will soon control the White House and both chambers of Congress, likely opening the door for major tax legislation next year. Here...
3 min read
BOI Reporting Updates: What Small Businesses Need to Know
BREAKING UPDATE: March 21, 2025 The government, on Friday, March 21, significantly narrowed the scope of Beneficial Ownership Information (BOI)...
5 min read
Wrap Up Your Business Year with Big Tax Savings
With year-end rapidly approaching, many business owners are focusing on budgeting and strategic planning for 2025. But you shouldn't overlook...
4 min read
What's Your Post-Election Tax Outlook?
The Republicans will soon control all three branches of the federal government. What does that mean for taxes on individuals? Here's an overview of...
2 min read
Family Business Focus: Taking It to the Next Level
Family businesses often start small, with casual operational approaches. However, informal (or nonexistent) policies and procedures can become...
2 min read
What Small Business Owners Need to Know About BOI Filing - December 2024 Update
The Corporate Transparency Act (CTA) brought new requirements for businesses to report Beneficial Ownership Information (BOI) to the feds. However, a...
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...
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...