TMA Accounting

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...

You May Need to Make Estimated Tax Payments

1 min read

You May Need to Make Estimated Tax Payments

You may have to make estimated tax payments if you earn income that's not subject to withholding, such as income from self-employment, interest,...

Updated Guidance on Business Vehicle Depreciation

7 min read

Updated Guidance on Business Vehicle Depreciation

The rules for deducting depreciation expenses on vehicles used for business purposes have been liberalized under current tax law, but they remain...

Why Some Businesses Choose to Execute a Pivot Strategy

2 min read

Why Some Businesses Choose to Execute a Pivot Strategy

When you encounter the word “pivot,” you may think of a politician changing course on a certain issue or perhaps a group of friends trying to move a...

You May Want to Separate Real Estate Assets from Your Business

2 min read

You May Want to Separate Real Estate Assets from Your Business

Many companies choose not to combine real estate and other assets into a single entity. Perhaps the business fears liability for injuries suffered on...

Business Owners, Your Financial Statements Are Trying to Tell You Something

2 min read

Business Owners, Your Financial Statements Are Trying to Tell You Something

Business owners are commonly and rightfully urged to generate financial statements regularly in compliance with Generally Accepted Accounting...

Should Married Couples File Jointly or Separately?

3 min read

Should Married Couples File Jointly or Separately?

Once you're married, you have two options when it comes to filing your annual federal income tax return — married filing jointly or married filing...

Chart a Tax Course for Business Travel

4 min read

Chart a Tax Course for Business Travel

Are you planning to take a business trip this year? If your destination is known for its cultural or recreational attractions, you might want to...

Eight Red Flags for IRS Audits

4 min read

Eight Red Flags for IRS Audits

The number of people being audited by the IRS isn't that high. For many years, less than 1% of taxpayers undergo face-to-face audits (although...

Growth Strategies: How to Take Your Business to the Next Level

5 min read

Growth Strategies: How to Take Your Business to the Next Level

Once your business has survived the start-up phase, it's got a solid foundation to grow. Business and financial advisory services are critical at...

Help Wanted: Hiring Your Kids to Work for Your Small Business

4 min read

Help Wanted: Hiring Your Kids to Work for Your Small Business

If you own a small business, you might consider hiring your kids to work during their time off from school. In addition to teaching your children...

Withdrawing Cash from Your C Corporation

3 min read

Withdrawing Cash from Your C Corporation

C corporation owners often need to take cash out of the business to pay personal expenses or to shield excess cash from creditors. Paying dividends...

Responsibilities When Collecting W-4s

2 min read

Responsibilities When Collecting W-4s

Employees don't always take the task of filling out their W-4 forms seriously. They may write "exempt" on the withholding portion of the form or even...

Perform an Operational Review to See How Well Your Business Is Running

2 min read

Perform an Operational Review to See How Well Your Business Is Running

In the wide, wide world of mergers and acquisitions (M&A), most business buyers conduct thorough due diligence before closing their deals. This...

Cost-Effective Ways to Improve Retention

2 min read

Cost-Effective Ways to Improve Retention

Like many other businesses, your company may occasionally endure downturns during which revenues stagnate, and your ability to authorize generous...

Can Your Company Revise its Payday Schedule?

2 min read

Can Your Company Revise its Payday Schedule?

Paydays are sacred in the workplace. Some employees who can't remember how many years they've been married or how long it's been since their last...

Keys to Avoid Payroll Tax Trouble

3 min read

Keys to Avoid Payroll Tax Trouble

What would happen if your company failed to pay the IRS payroll taxes when they were due? You could be on the hook for penalties and, if you're...

Nine Tax Considerations if You're Starting a Business as a Sole Proprietor

2 min read

Nine Tax Considerations if You're Starting a Business as a Sole Proprietor

When launching a small business, many entrepreneurs start out as sole proprietors. If you’re launching a venture as a sole proprietorship, you need...

Clear Overtime Policy Saves Money

2 min read

Clear Overtime Policy Saves Money

It's not enough to have a one-sentence statement in your employee handbook that merely tells your employees something like this: "All time worked...

3 min read

Do's and Don'ts for Business Expense Deductions

As tax season heats up, companies of all kinds and sizes will be on the hunt for ways to reduce their tax bills. One of the most common ways is...

How TMAs Payroll Service Works

2 min read

How TMA's Payroll Service Works

Twenty-five years ago, TMA was focused solely on helping small businesses get a handle on bookkeeping and taxes. Providing payroll services was not...