Small Business Blog

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Valuable Business Articles & Updates

Small Business Tips (2)

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...

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...