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Small Business Accounting (4)

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...

The Chances of an IRS Audit are Low, but You Should be Prepared

2 min read

The Chances of an IRS Audit are Low, but You Should be Prepared

Many business owners ask: How can I avoid an IRS audit? The good news is that the odds against being audited are in your favor. In fiscal year 2018,...

Putting Together the Succession Planning & Retirement Planning Puzzle

2 min read

Putting Together the Succession Planning & Retirement Planning Puzzle

Everyone needs to plan for retirement. But as a business owner, you face a distinctive challenge in that you must save for your golden years while...

The Tax Implications of a Company Car

2 min read

The Tax Implications of a Company Car

The use of a company vehicle is a valuable fringe benefit for owners and employees of small businesses. This benefit results in tax deductions for...

IRS Detects New Phishing Scam

IRS Detects New Phishing Scam

The IRS announced it has detected a new phishing scam involving unsolicited emails from IRS imposters. Subject lines on the phony emails include...

Should you Elect S Corporation Status?

2 min read

Should you Elect S Corporation Status?

Operating a business as an S corporation may provide many advantages, including limited liability for owners and no double taxation (at least at the...

Another Massive Data Breach: How to Help Protect Yourself

3 min read

Another Massive Data Breach: How to Help Protect Yourself

The news of another massive online data breach may make you feel powerless to safeguard your financial privacy. But you can take some concrete steps...

Employers: Be Aware (or Beware) of a Harsh Payroll Tax Penalty

1 min read

Employers: Be Aware (or Beware) of a Harsh Payroll Tax Penalty

If federal income tax and employment taxes (including Social Security) are withheld from employees’ paychecks and not handed over to the IRS, a harsh...

Odd Word, Cool Concept: Gamification for Businesses

2 min read

Odd Word, Cool Concept: Gamification for Businesses

“Gamification.” It’s perhaps an odd word, but it’s a cool concept that’s become popular among many types of businesses. In its most general sense,...

2 min read

What Type of Expenses Can’t be Written Off by Your Business?

If you read the Internal Revenue Code (and you probably don’t want to!), you may be surprised to find that most business deductions aren’t...

Which Entity is Most Suitable for Your New or Existing Business?

2 min read

Which Entity is Most Suitable for Your New or Existing Business?

The Tax Cuts and Jobs Act (TCJA) has changed the landscape for business taxpayers. That’s because the law introduced a flat 21% federal income tax...

Devote Some Time to Internal Leadership Development

2 min read

Devote Some Time to Internal Leadership Development

Many factors go into the success of a company. You’ve got to offer high-quality products or services, provide outstanding customer service, and...

Starting a Small Business

3 min read

Starting a Small Business

Regardless of what type of business you are planning – be it an online or home business, or a start-up with grand plans for expansion, it is easy for...

Financial Statements Tell Your Business’s Story, Inside and Out

1 min read

Financial Statements Tell Your Business’s Story, Inside and Out

Ask many entrepreneurs and small business owners to show you their financial statements and they’ll likely open a laptop and show you their...