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 rate for C corporations. Under prior law, profitable C corporations paid up to 35%. The TCJA also cut individual income tax rates, which apply to sole proprietorships and pass-through entities, […]

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 manage your inventory or supply chain. But there’s at least one other success factor that many business owners often overlook: internal leadership training and development. Even if all your executive and management positions […]

How entrepreneurs must treat expenses on their tax returns

Have you recently started a new business? Or are you contemplating starting one? Launching a new venture is a hectic, exciting time. And as you know, before you even open the doors, you generally have to spend a lot of money. You may have to train workers and pay for rent, utilities, marketing and more. […]

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 a fledgling business to be swept up in the excitement of the early days, while neglecting some of the less compelling factors that are essential to […]

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 bookkeeping software. Although tracking financial transactions is critical, spreadsheets aren’t financial statements. In short, financial statements are detailed and carefully organized reports about the financial activities and overall position of a business. […]

Save or Shred? Follow These Recordkeeping Guidelines.

Are you a recordkeeping pack rat? Many individuals and businesses hold onto paper and digital records indefinitely — just in case. But securely storing years of financial records can become burdensome. Here’s some guidance to help minimize recordkeeping overload. Personal Tax Records Most tax advisors recommend that you hold onto copies of your finished tax […]

Is Payroll Fraud Occurring at Your Company?

Payroll is often a company’s most significant expense. Unfortunately, theft within the payroll system can result if internal controls are not in place and steps are not taken to detect fraudulent activity in the company’s records. But there’s good news: Payroll fraud in all forms is largely preventable. Typically, payroll schemes involve fraudulent payments being […]

Cash Flow Q&A for Start-ups

One of the most difficult balances to maintain in any business, but particularly small business, is the constant tug of war that happens between cash in and cash out. The nuances of how to keep enough cash on hand to pay expenses and cover the ebb and flow of sales seems more art than science. […]

TMA Sponsors Local SHARK TANK Competition for Students

TMA Accounting was honored to be a premier sponsor for the recent 2017 Shark Tank competition event in Carmel, Indiana, held by the Ivy Venture Club of Ivy Tech Community College of Central Indiana. Congratulations to Stephen Witten, winner of the 2017 Shark Tank competition. Honorable mentions go out to fellow contenders, Jennifer Miller and […]

TMA Accounting Receives Prestigious Award

We don’t do what we do for awards, but we are honored and thrilled to announce that our firm has received an award recognizing our contribution to helping small businesses and their accountants all over the country. The Professional Association of Small Business Accountants (PASBA)* presented its Lifetime Achievement Award to Tyler Thompson, CPA (the […]