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...
Small Business Blog
Accounting and payroll resources for small business owners.
Easily filter through articles and find what you want to learn below.
Valuable Business Articles & Updates
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
2 min read
Setting Goals for Your Small Business
Setting goals plays a pivotal role in shaping the success and growth trajectory of small businesses. It's a practice that every small business owner...
1 min read
The Value of Using One Service Provider for Accounting, Payroll, and Taxes
Navigating the landscape of accounting and payroll decisions is an essential choice for small business owners. There are advantages to bringing these...
4 min read
Partnerships: Tax Considerations When Adding a New Partner
Are you considering inviting an employee or an outsider to participate in your existing partnership? Before making any commitments, it's important...
2 min read
What is Bookkeeping, and Why is it important for Small Businesses?
Running a small business requires you to understand the financial health of the business. Most people know that a business’s financial statements...
3 min read
Year-End Review of S Corp Compensation: Stay on the Right Side of the IRS
With the new year right around the corner, your shareholders might be thinking about year-end bonuses or distributions. Before doing so, it's...
1 min read
Avoid Costly Equipment Buying Blunders
Have you ever bought a new "state-of-the-art" piece of equipment only to discover that you paid dearly for some bells and whistles you didn't really...
2 min read
Seven Ways Supervisors Can Hit the Target on Communication
Successful supervisors know how and when to be assertive. They communicate their needs in a way that earns them respect and gets results.
4 min read
Answers to Common Payroll Questions
Understanding the payroll tax rules can be challenging when your company hires workers or the personal situations of existing employees change....
2 min read
Can You Require a Switch to Direct Deposit?
It may not be long before paper paychecks go the way of the five-and-dime store and the VCR. They may soon become obsolete as "direct deposit" into...
2 min read
QuickBooks – Pros and Cons for Small Businesses
QuickBooks is by far the most popular software system to streamline bookkeeping for small businesses, with many programs in its arsenal. Among them,...
1 min read
What Accounting Services Does My Small Business Need?
One of the most common statements we hear from prospective clients is, “I don’t know what services my business needs.” At first glance, accounting...
1 min read
Payroll Deduction IRAs Are a No-Cost Benefit
If you've considered setting up a retirement plan for your employees and decided it was too costly or too much trouble, there is an alternative. No...