3 min read
4 Strategies to Strengthen Your Small Business
Even at the best of times, the future is unpredictable. As anyone who has run a business for any length of time understands, there will often be...
3 min read
Beware of a 100% Personal Liability Penalty
A "100% penalty" can be assessed against a responsible person when federal income tax and/or federal employment taxes are withheld from employee...
2 min read
The advantages of using an LLC for your small business
If you operate your small business as a sole proprietorship, you may have thought about forming a limited liability company (LLC) to protect your...
2 min read
What You Should Expect from a Great Accounting Team
A Great Accounting Team AND YOUR NEEDS! One of the challenging things a small business owner must do is to create and maintain accurate and reliable...
3 min read
6 Types of Payroll Tax Obligations Employers Should Know
There's more to paying taxes than just federal and state income taxes. Another major tax chore for employers is payroll taxes. These expenditures can...
1 min read
Payroll Deduction IRAs Are a Cost-Free Benefit
If you've considered setting up a retirement plan for your employees and decided it was too costly or too much trouble, there is an alternative. No...
2 min read
Strong billing processes are critical to healthy cash flow
Once a business is up and running, one fundamental aspect of operations that’s easy to take for granted is billing. Often, a system of various...
3 min read
Risk Management: 8 Ways to Reduce Business Insurance Costs
How much money is your business spending on insurance products? Insurance is often a major business expense, and it can be a lifesaver when the...
4 min read
Midyear Tax Planning for Small Businesses and Owners
Summer isn't just for barbeques and baseball. It's also a good time to think about ways to cut your 2023 business tax bill. Here are four planning...
2 min read
Update on Luxury Auto Depreciation Deductions for Businesses
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...
2 min read
Federal Tax News For Businesses
What Certain IRS Notices Mean What does it mean if a business receives a Notice CP2100 or CP2100A from the IRS? These notices tell recipients that...
3 min read
Cutting the Kiddie Tax Down to Size
Despite its name, the "kiddie tax" is anything but child's play. If you're not careful, this provision of the tax code can result in children having...
2 min read
10 Payroll Issues for Small Businesses
You may not think of your small business's payroll function as risky. But if you don't properly handle certain payroll challenges, you may risk IRS...
4 min read
Deposit Interest into Five Tax Buckets
Interest rates rise and fall periodically, but the tax rules for deducting interest expenses remain the same — unless Congress changes them....
1 min read
2023 Q3 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 third quarter of 2023. Keep in mind that this list...
4 min read
What Employers Should Know about Health Savings Accounts
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...
2 min read
Can My Business Afford an Accounting Service?
Have you ever asked yourself the question, can my business afford an accounting service? My guess is yes. Generally, the small business owners we...
2 min read
Annual Accounting Services vs. Monthly Accounting Services
When starting a small business, determining how you’ll handle the bookkeeping, accounting, and taxes isn’t exactly the first thing people choose to...
4 min read
Estimating the Value of Your Business Today
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
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?...
3 min read
What Employers Need to Know About Payroll Tax Responsibilities
As your payroll staff or provider can likely tell you, your organization is responsible for meeting several types of payroll tax obligations...
2 min read
Federal Tax News For Individuals
What to do if you missed the tax day deadline Did you miss the 2022 tax filing deadline? For most taxpayers, that was April 18, 2023. Taxpayers who...
1 min read
Squeeze More Out of a Company SEP [Simplified Employee Pension Plan]
If you want a retirement plan for your small company or self-employed business -- but you don't want to be buried in paperwork -- consider a...
2 min read
Sell Corporate Stock Tax-Free to an ESOP
When family business owners sell C corporation stock for a big profit, they usually qualify for the current 20% maximum federal rate on long-term...
2 min read
Federal Tax News for Businesses
Businesses Targeted for Identity Theft The IRS is warning businesses that they may be prime targets for identity theft. How do you know if your...
3 min read
Resist the Urge to Purge after Filing Your 2022 Tax Return
The statute of limitations for the IRS to audit your tax return is typically three years. It begins on the latter of: The due date for your tax...
2 min read
6 Tried-and-true Strategies for Improving Collections
Businesses that operate in the retail or restaurant spheres have it relatively easy when it comes to collections. They generally take payments right...
2 min read
Many factors are involved when choosing a business entity
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
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
The U.S. Department of Treasury released its “Green Book” in May entitled, “General Explanation of the Biden administration’s Fiscal Year 2022...
1 min read
2021 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 2021. Keep in mind that this...