3 min read
Will Your Crypto Transactions Be Reported on a Form 1099?
Some taxpayers may be unaware of all the federal tax reporting requirements for cryptocurrency transactions — especially when it comes to issuing and...
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
Small Business Accounting (3)
2 min read
Why is Good Bookkeeping so Difficult (and Important)?
TMA Accounting has been helping small businesses with their bookkeeping for nearly 25 years. While a lot can happen in 25 years, we appreciate our...
1 min read
Protect Your Company Retirement Plan from an IRS Attack
When your company sponsors a qualified retirement plan, you must comply with complex rules established by the IRS and the Department of Labor. Ignore...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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
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...
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...
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...
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...
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...
