4 min read
Midyear Tax Planning for Small Businesses and Owners
Summer isn't just for barbeques and baseball. It's also a good time to think about ways to cut your 2023 business tax bill. Here are four planning...
2 min read
Update on Luxury Auto Depreciation Deductions for Businesses
Federal income tax deductions for taxpayers who use passenger autos more than 50% for business were permanently expanded by the Tax Cuts and Jobs Act...
2 min read
Federal Tax News For Businesses
What Certain IRS Notices Mean What does it mean if a business receives a Notice CP2100 or CP2100A from the IRS? These notices tell recipients that...
3 min read
Cutting the Kiddie Tax Down to Size
Despite its name, the "kiddie tax" is anything but child's play. If you're not careful, this provision of the tax code can result in children having...
2 min read
10 Payroll Issues for Small Businesses
You may not think of your small business's payroll function as risky. But if you don't properly handle certain payroll challenges, you may risk IRS...
4 min read
Deposit Interest into Five Tax Buckets
Interest rates rise and fall periodically, but the tax rules for deducting interest expenses remain the same — unless Congress changes them....
1 min read
2023 Q3 tax calendar: Key deadlines for businesses and other employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2023. Keep in mind that this list...
4 min read
What Employers Should Know about Health Savings Accounts
Health Savings Accounts (HSAs) are a tax-smart way to cover an individual's uninsured medical expenses, as well as certain other out-of-pocket...
2 min read
Can My Business Afford an Accounting Service?
Have you ever asked yourself the question, can my business afford an accounting service? My guess is yes. Generally, the small business owners we...
2 min read
Annual Accounting Services vs. Monthly Accounting Services
When starting a small business, determining how you’ll handle the bookkeeping, accounting, and taxes isn’t exactly the first thing people choose to...
4 min read
Estimating the Value of Your Business Today
Proactive business owners always have an eye on the future. And part of that preparedness means knowing what the company is currently worth and doing...
2 min read
Use an Old Rule to Add Value at Work
Here's a trivia question: Name the management consultant credited with launching the Pareto Principle who lived to be more than 100 years of age?...
3 min read
What Employers Need to Know About Payroll Tax Responsibilities
As your payroll staff or provider can likely tell you, your organization is responsible for meeting several types of payroll tax obligations...
2 min read
Federal Tax News For Individuals
What to do if you missed the tax day deadline Did you miss the 2022 tax filing deadline? For most taxpayers, that was April 18, 2023. Taxpayers who...
1 min read
Squeeze More Out of a Company SEP [Simplified Employee Pension Plan]
If you want a retirement plan for your small company or self-employed business -- but you don't want to be buried in paperwork -- consider a...
2 min read
Sell Corporate Stock Tax-Free to an ESOP
When family business owners sell C corporation stock for a big profit, they usually qualify for the current 20% maximum federal rate on long-term...
2 min read
Federal Tax News for Businesses
Businesses Targeted for Identity Theft The IRS is warning businesses that they may be prime targets for identity theft. How do you know if your...
3 min read
Resist the Urge to Purge after Filing Your 2022 Tax Return
The statute of limitations for the IRS to audit your tax return is typically three years. It begins on the latter of: The due date for your tax...
2 min read
6 Tried-and-true Strategies for Improving Collections
Businesses that operate in the retail or restaurant spheres have it relatively easy when it comes to collections. They generally take payments right...
2 min read
Many factors are involved when choosing a business entity
Are you planning to launch a business or thinking about changing your business entity? If so, you need to determine which entity will work best for...
2 min read
Employers: The Social Security wage base is increasing in 2022
The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $147,000 for 2022 (up...
5 min read
Lowdown on Federal Tax Proposals for Individuals and Businesses
The U.S. Department of Treasury released its “Green Book” in May entitled, “General Explanation of the Biden administration’s Fiscal Year 2022...
1 min read
2021 Q4 tax calendar: Key deadlines for businesses and other employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2021. Keep in mind that this...
2 min read
Boost Profits with These 10 Techniques
They say little things mean a lot. And relatively small expenses can add up to a huge amount of money your company could be wasting.
2 min read
How Start-Up Expenses are Handled on Your Tax Return
Despite the COVID-19 pandemic, government officials are seeing a large increase in the number of new businesses being launched. From June 2020...
2 min read
Don’t Assume Your Profitable Company has Strong Cash Flow
Most of us are taught from a young age never to assume anything. Why? Well, because when you assume, you make an … you probably know how the rest of...
3 min read
7 Valuable Deductions for Self-Employed Individuals
If your business was forced to close due to the pandemic, you may be itching to get back in the game. Or maybe you’re looking to fulfill a lifelong...
3 min read
Labor Shortage: Evaluating Your Employment Value Proposition
In normal market conditions, people who’ve been unemployed due to an economic slump are generally eager to take a job when the economy perks up. But...
2 min read
The IRS has Announced 2022 Amounts for Health Savings Accounts
The IRS recently released guidance providing the 2022 inflation-adjusted amounts for Health Savings Accounts (HSAs).
2 min read
The Restaurant Revitalization Fund is Now Live
The COVID-19 pandemic has affected various industries in very different ways. Widespread lockdowns and discouraged movement have led to increased...
2 min read
New Restaurant Revitalization Funding Program (RRF)
The Small Business Administration (SBA) is preparing to launch the Restaurant Revitalization Funding Program (RRF). In order to help you apply, we...