4 min read
Answers to Common Payroll Questions
Understanding the payroll tax rules can be challenging when your company hires workers or the personal situations of existing employees change....
Small Business Blog
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Valuable Business Articles & Updates
Small Business Taxes (2)
2 min read
Can You Require a Switch to Direct Deposit?
It may not be long before paper paychecks go the way of the five-and-dime store and the VCR. They may soon become obsolete as "direct deposit" into...
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...
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...
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...
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
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...
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...
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...
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
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...
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...