6 min read
5 Ideas to Help Small Business Owners Reduce Taxes for 2023
As year-end approaches, small business owners should review their tax situations to determine ways to lower federal income taxes for the current tax...
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
2 min read
What Makes TMA Accounting Different from Other Accounting Firms?
Each accounting firm or service provider has their own way of operating and serving their clients. While the goal for each is ultimately the same,...
2 min read
Why an Accounting Service is Worth the Cost for Your Small Business
Running a small business requires the owners to juggle a lot. These tasks can take up much, if not most, of your time. So, it can be hard to keep...
3 min read
Know the Rules Before Your Organization Brings in Interns
If you have a backlog of projects piling up because there just aren't enough hours in the day, you may consider hiring interns to help you get caught...
2 min read
Federal Tax News for Individuals
Tax season is long over, but tax scams are thriving. The IRS is warning taxpayers about emails and text messages that promise refunds and credits but...
3 min read
Update on New Retirement Account Catch-Up Contribution Rules
The Setting Every Community Up for Retirement Enhancement (SECURE) Act brought numerous changes to the retirement and estate planning landscape in...
3 min read
Will Your Crypto Transactions Be Reported on a Form 1099?
Some taxpayers may be unaware of all the federal tax reporting requirements for cryptocurrency transactions — especially when it comes to issuing and...
2 min read
Why is Good Bookkeeping so Difficult (and Important)?
TMA Accounting has been helping small businesses with their bookkeeping for nearly 25 years. While a lot can happen in 25 years, we appreciate our...
1 min read
Protect Your Company Retirement Plan from an IRS Attack
When your company sponsors a qualified retirement plan, you must comply with complex rules established by the IRS and the Department of Labor. Ignore...
2 min read
How does TMA Accounting Determine the Prices it Charges to Clients?
TMA determines our regular fees based on a formula we’ve developed that considers the volume and complexity of the work to be performed. This...
1 min read
2023 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 2023. Keep in mind that this...
2 min read
How Better Bookkeeping Helps Me Understand Profitability and Taxes
Often, small business owners juggle various responsibilities while trying to grow their business. Bookkeeping and tax compliance tasks often get less...
2 min read
What Services Does TMA Accounting Provide?
In the ever-changing landscape of running a small business, having a relationship with a reliable accounting firm can be a great asset to your...
2 min read
How to Transition to a New Accounting Firm
It is not uncommon for small business owners to find themselves working with an accounting firm that isn’t a great fit for their needs. A mismatch...
4 min read
What Can You Do to Lower Your 2023 Tax Obligation?
It's hard to believe that 2023 is already half over. Although summer is a time for vacations and relaxing in the backyard, you can't afford to take a...
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...