4 min read
Dispelling 10 Federal Tax Myths and Misconceptions
In the complex world of federal taxes, myths and misconceptions can lead to costly mistakes and missed opportunities — especially for business owners...
Small Business Blog
Accounting and payroll resources for small business owners.
Easily filter through articles and find what you want to learn below.
Valuable Business Articles & Updates
5 min read
Is Your Venture a Partnership for Tax Purposes?
If you're involved in a business or investment venture with one or more co-owners, you may have an unintended partnership for federal income tax...
2 min read
Questions About Taxes and Tips? Here Are Some Answers for Employers
Businesses in certain industries employ service workers who receive tips as a large part of their compensation. These businesses include restaurants,...
2 min read
How to Evaluate and Undertake a Business Transformation
Many industries have undergone monumental changes over the last decade or so. Broadly, there are two ways to adapt to the associated challenges:...
1 min read
TMA Accounting Named One of Indiana’s Best Places to Work
At TMA Accounting, we believe that a strong team culture is the foundation of exceptional service. That’s why we’re thrilled to announce that we have...
2 min read
So Many KPIs, So Much Time: An Overview for Businesses
Business owners are urged to monitor performance using key performance indicators (KPIs) from the moment they launch their companies. And for good...
4 min read
Insights Into Small Business Bankruptcies
Many U.S. businesses filed for bankruptcy last year. Through the end of the third quarter of 2024 (the latest available statistics at this writing),...
1 min read
Avoid Mixing Personal and Business Accounts
Small business owners and independent contractors always look for ways to save time. If you run your own business (or want to start one), having a...
5 min read
Ready, Set, File: 8 Tax Deductions You Might Not Know About
Years ago, many taxpayers itemized deductions instead of claiming the standard deduction. However, fewer taxpayers are itemizing today due to a bevy...
2 min read
Important Tax Figures for 2025
Every year, the amounts allowed for various federal tax benefits are subject to change based on inflation adjustments and legislation. This chart...
2 min read
Embrace the Future: Sales Forecasting for Businesses
So, how are sales looking for next year? It’s not a rhetorical question. Your business should be able to look ahead and accurately estimate how its...
2 min read
Operating as a C Corporation: Weigh the Benefits and Drawbacks
When deciding on the best structure for your business, one option to consider is a C corporation. This entity offers several advantages and...
2 min read
Growing the Business Means Supporting Your Managers
Many different shortcomings can hold back the growth of a company. Some are obvious, such as poor cash flow management or flawed strategic plans....
5 min read
2025 Tax Outlook for Businesses and Their Owners
The Republicans will soon control the White House and both chambers of Congress, likely opening the door for major tax legislation next year. Here...
3 min read
BOI Reporting Updates: What Small Businesses Need to Know
BREAKING UPDATE: March 21, 2025 The government, on Friday, March 21, significantly narrowed the scope of Beneficial Ownership Information (BOI)...
5 min read
Wrap Up Your Business Year with Big Tax Savings
With year-end rapidly approaching, many business owners are focusing on budgeting and strategic planning for 2025. But you shouldn't overlook...
4 min read
What's Your Post-Election Tax Outlook?
The Republicans will soon control all three branches of the federal government. What does that mean for taxes on individuals? Here's an overview of...
2 min read
Family Business Focus: Taking It to the Next Level
Family businesses often start small, with casual operational approaches. However, informal (or nonexistent) policies and procedures can become...
2 min read
What Small Business Owners Need to Know About BOI Filing - December 2024 Update
The Corporate Transparency Act (CTA) brought new requirements for businesses to report Beneficial Ownership Information (BOI) to the feds. However, a...
3 min read
Six Reasons to Separate Real Estate from Your Business Assets
When businesses acquire real estate, they often title it under the company name. Although this might seem straightforward and logical, it's not...
3 min read
From Flights to Meals: A Guide to Business Travel Tax Deductions
As a business owner, you may travel to visit customers, attend conferences, check on vendors, and for other purposes. Understanding which travel...
4 min read
Business Owners: Beware of the Limits on Deducting Losses
Even successful businesses occasionally incur losses. Start-ups and expanding businesses often have unprofitable years, and unexpected events like...
2 min read
How Businesses Can Prepare for and Respond to an IRS Audit
The IRS has been increasing its audit efforts, focusing on large businesses and high-income individuals. By 2026, it plans to nearly triple its audit...
2 min read
Which Leadership Skills are Essential to Strategic Planning?
Businesses need to engage in some form of strategic planning to help ensure continued stability and profitability. A recent survey by insurance giant...
2 min read
Why an LLC Might Be the Ideal Choice for Your Small to Medium Size Business
Choosing the right business entity is a key decision for any business. The entity you pick can affect your tax bill, personal liability, and other...
1 min read
2024 Q4 Tax Calendar: Key Deadlines for Businesses and Other Employers
Here are some key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2024. Keep in mind that this list isn't...
4 min read
Department of Labor Updates Rules on Worker Classification
Navigating Worker Classification: How to Keep Your Small Business on Track with the Department of Labor's New Rules If you're a small business owner...
3 min read
Paying Out Tips - Daily, Weekly, Payroll?
Do you remember your first day of work at your job? I remember being equally excited for the new adventure and anxious about how well I would do. I...
4 min read
Hiring Employees: 7 Tips to Help Attract the Best
In today's labor market, some small businesses — including restaurants, delivery services, retail stores, and manufacturers — struggle to attract and...
3 min read
IRS Explains the Differences Between Tips and Service Charges
Employers in restaurants, hotels, casinos, and other service industries must comply with the tax rules associated with tips. To assist them, the IRS...
3 min read
Tax-Smart Way to Hold Investment Real Estate
Real estate can be an attractive long-term investment. However, the legal entity you select to own property can have important tax implications....