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Valuable Business Articles & Updates

5 Mid-Year Tax Planning Ideas for Small Business Owners

4 min read

5 Mid-Year Tax Planning Ideas for Small Business Owners

The second half of 2020 has begun. What steps can small business owners take today to lower taxes for the current tax year? Alternatively, would it...

6 Key IT Questions to Ask in the New Normal

2 min read

6 Key IT Questions to Ask in the New Normal

The sudden shutdown of the economy in March because of the COVID-19 pandemic forced many businesses to rely more heavily on technology. Some...

Haven’t Filed Your 2019 Business Tax Return? Chip Away at Your Bill

2 min read

Haven’t Filed Your 2019 Business Tax Return? Chip Away at Your Bill

The extended federal income tax deadline is coming up fast. As you know, the IRS postponed until July 15 the payment and filing deadlines that...

Payroll Protection Program Flexibility Act

2 min read

Payroll Protection Program Flexibility Act

Visitors, please read: The Payroll Protection Program Flexibility Act (PPPFA) was signed into law on June 5, 2020. In general terms, the Act allows...

SBA Reopens EIDL Program to Small Businesses and Nonprofits

2 min read

SBA Reopens EIDL Program to Small Businesses and Nonprofits

Just last week, the Small Business Administration (SBA) announced that it has reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance...

PPP Flexibility Act Eases Rules for Borrowers Coping with COVID-19

2 min read

PPP Flexibility Act Eases Rules for Borrowers Coping with COVID-19

As you may recall, the Small Business Administration (SBA) launched the Paycheck Protection Program (PPP) back in April to help companies reeling...

Is it Time to Reopen Your Business? 10 Questions to Ask Yourself

3 min read

Is it Time to Reopen Your Business? 10 Questions to Ask Yourself

Businesses across America that have been shut down due to the novel coronavirus (COVID-19) pandemic may now (or soon) have the option to reopen....

How to Succeed at Virtual Team Building

2 min read

How to Succeed at Virtual Team Building

Thanks to affordable technology, more and more companies have been allowing employees to work remotely in recent years. It’s become feasible to...

COVID‐19 Safety Action Plan

1 min read

COVID‐19 Safety Action Plan

Visitors, please read: We have adopted a COVID‐19 Safety Action Plan consistent with the State of Indiana’s “Suggested Guidelines for Professional...

Tax Developments for Employers Impacted by COVID-19

2 min read

Tax Developments for Employers Impacted by COVID-19

As you may know, the President recently signed the Families First Coronavirus Response Act (FFCRA) and Coronavirus Aid, Relief and Economic Security...

What are the Key Distinctions Between Layoffs and Furloughs?

2 min read

What are the Key Distinctions Between Layoffs and Furloughs?

As businesses across the country grapple with the economic fallout from the novel coronavirus (COVID-19) pandemic, many must decide whether to...

Tax Provisions of CARES Act for Businesses – April 1, 2020 Update

4 min read

Tax Provisions of CARES Act for Businesses – April 1, 2020 Update

Employee retention credit for employers Eligible employers can qualify for a refundable credit against, generally, the employer’s 6.2% portion of the...

Tax Provisions of CARES Act for Individual Taxpayers – April 1, 2020 Update

3 min read

Tax Provisions of CARES Act for Individual Taxpayers – April 1, 2020 Update

Recovery rebates for individuals To help individuals stay afloat during this time of economic uncertainty, the government will send up to $1,200...

Using Your Financial Statements During an Economic Crisis

2 min read

Using Your Financial Statements During an Economic Crisis

The economic fallout from the coronavirus (COVID-19) pandemic has forced business owners to reevaluate their operations and make difficult decisions....

Federal Government Tax-related Actions Taken to-date Regarding COVID-19

5 min read

Federal Government Tax-related Actions Taken to-date Regarding COVID-19

Right now, your highest priority is the health of those you love and yourself. But if you have time to read about some non-medical but important...

Assistance with Applying for SBA Disaster Loans

Assistance with Applying for SBA Disaster Loans

In response to the coronavirus crisis, TMA is helping small business owners apply for SBA Disaster Loans. We have developed a process to help clients...

Tips for Our Restaurant Clients During Covid-19 Outbreak

Tips for Our Restaurant Clients During Covid-19 Outbreak

As a restaurant owner, you and your people provide a critical service in our community. Especially now, we want to extend our help.

Ten Action Items that Business Owners Need to Do Now – March 20, 2020

2 min read

Ten Action Items that Business Owners Need to Do Now – March 20, 2020

We are urging business owners to develop an aggressive plan to manage through this crisis. Below are ten important items to be considered in that...

New Law – Families First Coronavirus Response Act (FFCRA) – March 19, 2020

3 min read

New Law – Families First Coronavirus Response Act (FFCRA) – March 19, 2020

Last night, the President signed The Families First Coronavirus Response Act (FFCRA) into law. While the accounting profession is still learning the...

Government’s Response to COVID-19 – March 18, 2020

2 min read

Government’s Response to COVID-19 – March 18, 2020

We continue to monitor news regarding the government’s response to the COVID-19 outbreak and want to keep you updated on what we know now.

Temporary Process Changes – Coronavirus (COVID-19)

1 min read

Temporary Process Changes – Coronavirus (COVID-19)

Our thoughts are with those who have been directly affected by the coronavirus (COVID-19) outbreak. Our top priority is the safety of our employees,...

The Wayfair Burden on Small Businesses

5 min read

The Wayfair Burden on Small Businesses

The Supreme Court’s 2018 ruling in South Dakota v. Wayfair has had momentous ramifications across the board as states, tax practitioners and...

7 Valuable Tax Credits for Small Businesses

5 min read

7 Valuable Tax Credits for Small Businesses

Many people are familiar with tax credits for individual taxpayers, such as the credits for higher education expenses or the child tax credit. But...

Numerous Tax Limits Affecting Businesses Have Increased for 2020

1 min read

Numerous Tax Limits Affecting Businesses Have Increased for 2020

An array of tax-related limits that affect businesses are annually indexed for inflation, and many have increased for 2020. Here are some that may be...

Do you Want to Go into Business for Yourself?

2 min read

Do you Want to Go into Business for Yourself?

Many people who launch small businesses start out as sole proprietors. Here are nine tax rules and considerations involved in operating as that...

Look Closely at Your Company’s Concentration Risks

2 min read

Look Closely at Your Company’s Concentration Risks

The word “concentration” is usually associated with a strong ability to pay attention. Business owners are urged to concentrate when attempting to...

Numerous Tax Limits Affecting Businesses have Increased for 2020

1 min read

Numerous Tax Limits Affecting Businesses have Increased for 2020

An array of tax-related limits that affect businesses are annually indexed for inflation, and many have increased for 2020. Here are some that may be...

Cents-Per-Mile Rate for Business Miles Decreases Slightly for 2020

2 min read

Cents-Per-Mile Rate for Business Miles Decreases Slightly for 2020

This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business decreased by one-half...

Small Businesses: It May Not be Too Late to Cut Your 2019 Taxes

2 min read

Small Businesses: It May Not be Too Late to Cut Your 2019 Taxes

Don’t let the holiday rush keep you from taking some important steps to reduce your 2019 tax liability. You still have time to execute a few...

For Best Results, Start Your Strategic Planning Early

2 min read

For Best Results, Start Your Strategic Planning Early

Time flies when you’re having fun — and running a business. Although it’s probably too early to start chilling a bottle of bubbly for New Year’s Eve,...

Cyber Security and Your Small Business – Company Size Doesn’t Matter

1 min read

Cyber Security and Your Small Business – Company Size Doesn’t Matter

Think hackers are only trying to target large corporations for their cyber-attacks. Think again! If you are an employee of a small to medium-sized...