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...
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
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...
2 min read
Boost Profits with These 10 Techniques
They say little things mean a lot. And relatively small expenses can add up to a huge amount of money your company could be wasting.
2 min read
How Start-Up Expenses are Handled on Your Tax Return
Despite the COVID-19 pandemic, government officials are seeing a large increase in the number of new businesses being launched. From June 2020...
2 min read
Don’t Assume Your Profitable Company has Strong Cash Flow
Most of us are taught from a young age never to assume anything. Why? Well, because when you assume, you make an … you probably know how the rest of...
3 min read
7 Valuable Deductions for Self-Employed Individuals
If your business was forced to close due to the pandemic, you may be itching to get back in the game. Or maybe you’re looking to fulfill a lifelong...
3 min read
Labor Shortage: Evaluating Your Employment Value Proposition
In normal market conditions, people who’ve been unemployed due to an economic slump are generally eager to take a job when the economy perks up. But...
2 min read
The IRS has Announced 2022 Amounts for Health Savings Accounts
The IRS recently released guidance providing the 2022 inflation-adjusted amounts for Health Savings Accounts (HSAs).
2 min read
The Restaurant Revitalization Fund is Now Live
The COVID-19 pandemic has affected various industries in very different ways. Widespread lockdowns and discouraged movement have led to increased...
2 min read
New Restaurant Revitalization Funding Program (RRF)
The Small Business Administration (SBA) is preparing to launch the Restaurant Revitalization Funding Program (RRF). In order to help you apply, we...
2 min read
Ins & Outs of “Reasonable Compensation” for a Corporate Business Owner
Owners of incorporated businesses know there’s a tax advantage to taking money from a C corporation as compensation rather than as dividends. The...
2 min read
PPP Adjusted to Prioritize Very Small Businesses
When the Small Business Administration (SBA) launched the Paycheck Protection Program (PPP) last year, the program’s stated objective was “to provide...
2 min read
Launching a Small Business? Here are Some Tax Considerations
While many businesses have been forced to close due to the COVID-19 pandemic, some entrepreneurs have started new small businesses. Many of these...
1 min read
PPP Application Deadline Extended in New Law
On March 30, 2021, President Biden signed legislation to extend the application period of the popular Paycheck Protection Program (PPP) through May...
4 min read
The Evolution of the Employee Retention Credit
The pandemic has adversely affected many sectors of the U.S. economy, causing widespread job losses. At the start of the national emergency, Congress...
2 min read
IRS Extends the Tax Paying and Filing Deadline for Individuals
The IRS has announced that the federal income tax filing deadline for individuals for the 2020 tax year is extended from April 15, 2021, until...
3 min read
The American Rescue Plan Act has Passed: What’s in it for You?
Congress has passed the latest legislation aimed at providing economic and other relief from the COVID-19 Pandemic that has haunted the country for...
1 min read
Work Opportunity Tax Credit Extended Through 2025
Are you a business owner thinking about hiring? Be aware that a recent law extended credit for hiring individuals from one or more targeted groups....
3 min read
Tips for Starting a New Business Today
When one door closes, another opens. The COVID-19 pandemic has forced many small businesses to permanently shutter. But it has also provided new...
2 min read
The Cents-Per-Mile Rate for Business Miles Decreases Again for 2021
This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business decreased by...
2 min read
View Your Financial Statements Through the Right Lens
Many business owners generate financial statements, at least in part, because lenders and other stakeholders demand them. You’re likely also aware of...
1 min read
20 Tips from 20 Years!
TMA has worked with hundreds of small businesses and our team has nearly 200 years of combined professional experience.
1 min read
2020 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 2020. Keep in mind that this...
2 min read
Why Do Partners Often Report More Income on Tax Returns than in Cash?
If you’re a partner in a business, you may have come across a situation that gave you pause. In a given year, you may be taxed on more partnership...
2 min read
10 Low-Cost/No-Cost Ways to Add Fun to the Workplace
Looking for low or no-cost ways to bring a little fun into the workplace and tell your employees that you value them? Here are 10 ideas that might...
4 min read
5 Mid-Year Tax Planning Ideas for Small Business Owners
The second half of 2020 has begun. What steps can small business owners take today to lower taxes for the current tax year? Alternatively, would it...