3 min read
New Law – Families First Coronavirus Response Act (FFCRA) – March 19, 2020
Last night, the President signed The Families First Coronavirus Response Act (FFCRA) into law. While the accounting profession is still learning the...
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Small Business Taxes (4)
2 min read
Government’s Response to COVID-19 – March 18, 2020
We continue to monitor news regarding the government’s response to the COVID-19 outbreak and want to keep you updated on what we know now.
1 min read
Temporary Process Changes – Coronavirus (COVID-19)
Our thoughts are with those who have been directly affected by the coronavirus (COVID-19) outbreak. Our top priority is the safety of our employees,...
5 min read
The Wayfair Burden on Small Businesses
The Supreme Court’s 2018 ruling in South Dakota v. Wayfair has had momentous ramifications across the board as states, tax practitioners and...
5 min read
7 Valuable Tax Credits for Small Businesses
Many people are familiar with tax credits for individual taxpayers, such as the credits for higher education expenses or the child tax credit. But...
1 min read
Numerous Tax Limits Affecting Businesses Have Increased for 2020
An array of tax-related limits that affect businesses are annually indexed for inflation, and many have increased for 2020. Here are some that may be...
2 min read
Do you Want to Go into Business for Yourself?
Many people who launch small businesses start out as sole proprietors. Here are nine tax rules and considerations involved in operating as that...
2 min read
Look Closely at Your Company’s Concentration Risks
The word “concentration” is usually associated with a strong ability to pay attention. Business owners are urged to concentrate when attempting to...
1 min read
Numerous Tax Limits Affecting Businesses have Increased for 2020
An array of tax-related limits that affect businesses are annually indexed for inflation, and many have increased for 2020. Here are some that may be...
2 min read
Cents-Per-Mile Rate for Business Miles Decreases Slightly for 2020
This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business decreased by one-half...
2 min read
Small Businesses: It May Not be Too Late to Cut Your 2019 Taxes
Don’t let the holiday rush keep you from taking some important steps to reduce your 2019 tax liability. You still have time to execute a few...
2 min read
For Best Results, Start Your Strategic Planning Early
Time flies when you’re having fun — and running a business. Although it’s probably too early to start chilling a bottle of bubbly for New Year’s Eve,...
1 min read
Cyber Security and Your Small Business – Company Size Doesn’t Matter
Think hackers are only trying to target large corporations for their cyber-attacks. Think again! If you are an employee of a small to medium-sized...
2 min read
The Chances of an IRS Audit are Low, but You Should be Prepared
Many business owners ask: How can I avoid an IRS audit? The good news is that the odds against being audited are in your favor. In fiscal year 2018,...
2 min read
Putting Together the Succession Planning & Retirement Planning Puzzle
Everyone needs to plan for retirement. But as a business owner, you face a distinctive challenge in that you must save for your golden years while...
2 min read
The Tax Implications of a Company Car
The use of a company vehicle is a valuable fringe benefit for owners and employees of small businesses. This benefit results in tax deductions for...
IRS Detects New Phishing Scam
The IRS announced it has detected a new phishing scam involving unsolicited emails from IRS imposters. Subject lines on the phony emails include...
2 min read
Should you Elect S Corporation Status?
Operating a business as an S corporation may provide many advantages, including limited liability for owners and no double taxation (at least at the...
3 min read
Another Massive Data Breach: How to Help Protect Yourself
The news of another massive online data breach may make you feel powerless to safeguard your financial privacy. But you can take some concrete steps...
1 min read
Employers: Be Aware (or Beware) of a Harsh Payroll Tax Penalty
If federal income tax and employment taxes (including Social Security) are withheld from employees’ paychecks and not handed over to the IRS, a harsh...
2 min read
Odd Word, Cool Concept: Gamification for Businesses
“Gamification.” It’s perhaps an odd word, but it’s a cool concept that’s become popular among many types of businesses. In its most general sense,...
2 min read
What Type of Expenses Can’t be Written Off by Your Business?
If you read the Internal Revenue Code (and you probably don’t want to!), you may be surprised to find that most business deductions aren’t...
2 min read
Which Entity is Most Suitable for Your New or Existing Business?
The Tax Cuts and Jobs Act (TCJA) has changed the landscape for business taxpayers. That’s because the law introduced a flat 21% federal income tax...
2 min read
Devote Some Time to Internal Leadership Development
Many factors go into the success of a company. You’ve got to offer high-quality products or services, provide outstanding customer service, and...
3 min read
Starting a Small Business
Regardless of what type of business you are planning – be it an online or home business, or a start-up with grand plans for expansion, it is easy for...
1 min read
Financial Statements Tell Your Business’s Story, Inside and Out
Ask many entrepreneurs and small business owners to show you their financial statements and they’ll likely open a laptop and show you their...