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Accounting and payroll resources for small business owners.

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Small Business Accounting (2)

How does TMA Accounting Determine the Prices it Charges to Clients?

2 min read

How does TMA Accounting Determine the Prices it Charges to Clients?

TMA determines our regular fees based on a formula we’ve developed that considers the volume and complexity of the work to be performed. This...

2023 Q4 tax calendar: Key deadlines for businesses and other employers

1 min read

2023 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 2023. Keep in mind that this...

How Does Better Bookkeeping Help Me Understand Profitability and Taxes?

2 min read

How Better Bookkeeping Helps Me Understand Profitability and Taxes

Often, small business owners juggle various responsibilities while trying to grow their business. Bookkeeping and tax compliance tasks often get less...

How to Transition to a New Accounting Firm

2 min read

How to Transition to a New Accounting Firm

It is not uncommon for small business owners to find themselves working with an accounting firm that isn’t a great fit for their needs. A mismatch...

What Can You Do to Lower Your 2023 Tax Obligation?

4 min read

What Can You Do to Lower Your 2023 Tax Obligation?

It's hard to believe that 2023 is already half over. Although summer is a time for vacations and relaxing in the backyard, you can't afford to take a...

4 Strategies to Strengthen Your Small Business

3 min read

4 Strategies to Strengthen Your Small Business

Even at the best of times, the future is unpredictable. As anyone who has run a business for any length of time understands, there will often be...

Beware of a 100% Personal Liability Penalty

3 min read

Beware of a 100% Personal Liability Penalty

A "100% penalty" can be assessed against a responsible person when federal income tax and/or federal employment taxes are withheld from employee...

The advantages of using an LLC for your small business

2 min read

The advantages of using an LLC for your small business

If you operate your small business as a sole proprietorship, you may have thought about forming a limited liability company (LLC) to protect your...

WHAT YOU SHOULD EXPECT FROM A GREAT ACCOUNTING TEAM

2 min read

What You Should Expect from a Great Accounting Team

A Great Accounting Team AND YOUR NEEDS! One of the challenging things a small business owner must do is to create and maintain accurate and reliable...

6 Types of Payroll Tax Obligations Employers Should Know

3 min read

6 Types of Payroll Tax Obligations Employers Should Know

There's more to paying taxes than just federal and state income taxes. Another major tax chore for employers is payroll taxes. These expenditures can...

PAYROLL DEDUCTION IRAS ARE A NO-COST BENEFIT

1 min read

Payroll Deduction IRAs Are a Cost-Free 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...

STRONG BILLING PROCESSES ARE CRITICAL TO HEALTHY CASH FLOW

2 min read

Strong billing processes are critical to healthy cash flow

Once a business is up and running, one fundamental aspect of operations that’s easy to take for granted is billing. Often, a system of various...

Can my business afford an accounting service?

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...

Annual Accounting Services vs. Monthly Accounting Services What’s Best For My Small Business?

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...

Estimating the Value of Your Business Today

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...

Boost Profits with These 10 Techniques

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.

How Start-Up Expenses are Handled on Your Tax Return

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...

Don’t Assume Your Profitable Company has Strong Cash Flow

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...

self employed female working

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...

Labor Shortage: Evaluating Your Employment Value Proposition

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...

The IRS has Announced 2022 Amounts for Health Savings Accounts

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).

The Restaurant Revitalization Fund is Now Live

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...

New Restaurant Revitalization Funding Program (RRF)

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...

Ins & Outs of “Reasonable Compensation” for a Corporate Business Owner

2 min read

Ins & Outs of “Reasonable Compensation” for a Corporate Business Owner

Owners of incorporated businesses know there’s a tax advantage to taking money from a C corporation as compensation rather than as dividends. The...

PPP Adjusted to Prioritize Very Small Businesses

2 min read

PPP Adjusted to Prioritize Very Small Businesses

When the Small Business Administration (SBA) launched the Paycheck Protection Program (PPP) last year, the program’s stated objective was “to provide...

Launching a Small Business? Here are Some Tax Considerations

2 min read

Launching a Small Business? Here are Some Tax Considerations

While many businesses have been forced to close due to the COVID-19 pandemic, some entrepreneurs have started new small businesses. Many of these...

PPP Application Deadline Extended in New Law

1 min read

PPP Application Deadline Extended in New Law

On March 30, 2021, President Biden signed legislation to extend the application period of the popular Paycheck Protection Program (PPP) through May...

The Evolution of the Employee Retention Credit

4 min read

The Evolution of the Employee Retention Credit

The pandemic has adversely affected many sectors of the U.S. economy, causing widespread job losses. At the start of the national emergency, Congress...

IRS Extends the Tax Paying and Filing Deadline for Individuals

2 min read

IRS Extends the Tax Paying and Filing Deadline for Individuals

The IRS has announced that the federal income tax filing deadline for individuals for the 2020 tax year is extended from April 15, 2021, until...

The American Rescue Plan Act has Passed: What’s in it for You?

3 min read

The American Rescue Plan Act has Passed: What’s in it for You?

Congress has passed the latest legislation aimed at providing economic and other relief from the COVID-19 Pandemic that has haunted the country for...