Credit Card Processing Updates- Are You Prepared?

If you own a small business and you accept credit card payments, there’s a new requirement for credit card processing that needs your immediate attention. The Payment Networks’ Liability Shift, associated with EuroPay, MasterCard and Visa (EMV) is slated for impact in October, 2015. Introduced in the U.S. as Phase I of the EMV migration […]

SMALL BUSINESS ALERT- IRS Publishes 2014 Business Mileage Rates

WASHINGTON — The Internal Revenue Service today issued the 2014 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2014, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 56 […]

Progress and Delays for Small Business Health Exchanges

According to the U.S. government, small business employees today pay an average of 18% more in premiums than those in large firms with the same benefits and their deductibles are more than double. The underlying cause for this payment discrepancy lies in simple math. Small businesses do not have the numbers to support and spread […]

Congress Avoids the Fiscal Cliff

The Senate and the House have recently voted on a last-minute budget deal worked out between President Barack Obama and congressional Republicans averting the so-called fiscal cliff. Here are some highlights of the compromise bill: The current tax rates will be kept in place for individuals making less than $400,000. Incomes above $400,000 ($450,000 for […]

Business Owners: Stop doing accounting now!

If bookkeeping is so boring, why are so many business owners doing it? I’ve studied accounting – a lot.  I studied it in business school (go Hoosiers!), I studied for the CPA exam, and have taken 100+ hours of continuing ed every year for the past 15+ years.  That’s a lot. Every step along the […]

What Makes a Business Effective? Part 1: Your Team

How much difference would it make if you truly had the right people on your team? Let’s start by defining what make a business effective.  Most business owners tell me their top priority is to make their business more profitable and less dependent on them.  Obviously, a business that depends too much on one or […]

What’s the Formula for Small Business Success?

What does it take to build a successful small business?  Maybe less than you expect. As a CPA, I’ve been working with small business owners for a long time.  My staff and I are privy to the financial results of nearly 200 businesses every year – some are very, very successful, and some are not. One of the […]

Payroll tax cut temporarily extended

Below is a quick update on the recent payroll tax legislation.  If you’re and Indiana business and need help with payroll or payroll taxes, please feel free to call my office. – Tyler Payroll tax cut temporarily extended. The Temporary Payroll Tax Cut Continuation Act of 2011 was enacted late last year. It extends the two […]

Setting Goals for Your Business

For me, the first day of the new year always marks the beginning of busy season.  January is ‘go time’.  My staff and I love it because there’s lots of work to do, we get to reconnect with our long-time clients, and meet some new ones. For the first ten years of my career, I […]