Small Business Blog

3 min read

Hit the Ground Running: 7 Tips for New Business Owners

TMA Accounting:

Launching a new business can be a daunting endeavor. As soon as you form the company, you'll face many important decisions — ranging from the mundane...

1 min read

Ask the Right Questions When Growing the Family Business

TMA Accounting:

Profit growth and business expansion are two key goals for many family businesses. In order to successfully reach your targets, however, you must...

6 min read

5 Ideas to Help Small Business Owners Reduce Taxes for 2023

TMA Accounting:

As year-end approaches, small business owners should review their tax situations to determine ways to lower federal income taxes for the current tax...

2 min read

Why an Accounting Service is Worth the Cost for Your Small Business

TMA Accounting:

Running a small business requires the owners to juggle a lot. These tasks can take up much, if not most, of your time. So, it can be hard to keep...

2 min read

Update on Luxury Auto Depreciation Deductions for Businesses

TMA Accounting:

Federal income tax deductions for taxpayers who use passenger autos more than 50% for business were permanently expanded by the Tax Cuts and Jobs Act...

4 min read

What Employers Should Know about Health Savings Accounts

TMA Accounting:

Health Savings Accounts (HSAs) are a tax-smart way to cover an individual's uninsured medical expenses, as well as certain other out-of-pocket...

4 min read

Estimating the Value of Your Business Today

TMA Accounting:

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

Use an Old Rule to Add Value at Work

TMA Accounting:

Here's a trivia question: Name the management consultant credited with launching the Pareto Principle who lived to be more than 100 years of age?...

2 min read

Many factors are involved when choosing a business entity

TMA Accounting:

Are you planning to launch a business or thinking about changing your business entity? If so, you need to determine which entity will work best for...

2 min read

Employers: The Social Security wage base is increasing in 2022

TMA Accounting:

The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $147,000 for 2022 (up...

5 min read

Lowdown on Federal Tax Proposals for Individuals and Businesses

TMA Accounting:

The U.S. Department of Treasury released its “Green Book” in May entitled, “General Explanation of the Biden administration’s Fiscal Year 2022...

2 min read

Boost Profits with These 10 Techniques

TMA Accounting:

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

TMA Accounting:

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

TMA Accounting:

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

TMA Accounting:

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

TMA Accounting:

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

TMA Accounting:

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

TMA Accounting:

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)

TMA Accounting:

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

TMA Accounting:

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

TMA Accounting:

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

TMA Accounting:

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

TMA Accounting:

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

2 min read

EIDL Loans, Offering Relief to Struggling Small Businesses

TMA Accounting:

4 min read

The Evolution of the Employee Retention Credit

TMA Accounting:

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

2 min read

IRS Extends the Tax Paying and Filing Deadline for Individuals

TMA Accounting:

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...

3 min read

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

TMA Accounting:

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

1 min read

Work Opportunity Tax Credit Extended Through 2025

TMA Accounting:

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....

3 min read

Tips for Starting a New Business Today

TMA Accounting:

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

2 min read

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

TMA Accounting:

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

2 min read

View Your Financial Statements Through the Right Lens

TMA Accounting:

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