Small Business Blog

Accounting and payroll resources for small business owners.

Easily filter through articles and find what you want to learn below.

blue-arrow
Valuable Business Articles & Updates

Small Business Accounting (3)

Work Opportunity Tax Credit Extended Through 2025

1 min read

Work Opportunity Tax Credit Extended Through 2025

Are you a business owner thinking about hiring? Be aware that a recent law extended credit for hiring individuals from one or more targeted groups....

Tips for Starting a New Business Today

3 min read

Tips for Starting a New Business Today

When one door closes, another opens. The COVID-19 pandemic has forced many small businesses to permanently shutter. But it has also provided new...

The Cents-Per-Mile Rate for Business Miles Decreases Again for 2021

2 min read

The Cents-Per-Mile Rate for Business Miles Decreases Again for 2021

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

View Your Financial Statements Through the Right Lens

2 min read

View Your Financial Statements Through the Right Lens

Many business owners generate financial statements, at least in part, because lenders and other stakeholders demand them. You’re likely also aware of...

20 Tips from 20 Years!

1 min read

20 Tips from 20 Years!

TMA has worked with hundreds of small businesses and our team has nearly 200 years of combined professional experience.

2020 Q4 Tax Calendar: Key Deadlines for Businesses and Other Employers

1 min read

2020 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 2020. Keep in mind that this...

Why Do Partners Often Report More Income on Tax Returns than in Cash?

2 min read

Why Do Partners Often Report More Income on Tax Returns than in Cash?

If you’re a partner in a business, you may have come across a situation that gave you pause. In a given year, you may be taxed on more partnership...

10 Low-Cost/No-Cost Ways to Add Fun to the Workplace

2 min read

10 Low-Cost/No-Cost Ways to Add Fun to the Workplace

Looking for low or no-cost ways to bring a little fun into the workplace and tell your employees that you value them? Here are 10 ideas that might...

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...