2 min read
Growing Your Business with a New Partner: Here Are Some Tax Considerations
There are several financial and legal implications when adding a new partner to a partnership. Here’s an example to illustrate: You and your partners...
Small Business Blog
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7 min read
Updated Guidance on Business Vehicle Depreciation
The rules for deducting depreciation expenses on vehicles used for business purposes have been liberalized under current tax law, but they remain...
2 min read
Why Some Businesses Choose to Execute a Pivot Strategy
When you encounter the word “pivot,” you may think of a politician changing course on a certain issue or perhaps a group of friends trying to move a...
2 min read
You May Want to Separate Real Estate Assets from Your Business
Many companies choose not to combine real estate and other assets into a single entity. Perhaps the business fears liability for injuries suffered on...
2 min read
Business Owners, Your Financial Statements Are Trying to Tell You Something
Business owners are commonly and rightfully urged to generate financial statements regularly in compliance with Generally Accepted Accounting...
4 min read
Chart a Tax Course for Business Travel
Are you planning to take a business trip this year? If your destination is known for its cultural or recreational attractions, you might want to...
5 min read
Growth Strategies: How to Take Your Business to the Next Level
Once your business has survived the start-up phase, it's got a solid foundation to grow. Business and financial advisory services are critical at...
4 min read
Help Wanted: Hiring Your Kids to Work for Your Small Business
If you own a small business, you might consider hiring your kids to work during their time off from school. In addition to teaching your children...
3 min read
Withdrawing Cash from Your C Corporation
C corporation owners often need to take cash out of the business to pay personal expenses or to shield excess cash from creditors. Paying dividends...
2 min read
Responsibilities When Collecting W-4s
Employees don't always take the task of filling out their W-4 forms seriously. They may write "exempt" on the withholding portion of the form or even...
2 min read
Perform an Operational Review to See How Well Your Business Is Running
In the wide, wide world of mergers and acquisitions (M&A), most business buyers conduct thorough due diligence before closing their deals. This...
2 min read
Cost-Effective Ways to Improve Retention
Like many other businesses, your company may occasionally endure downturns during which revenues stagnate, and your ability to authorize generous...
2 min read
Can Your Company Revise its Payday Schedule?
Paydays are sacred in the workplace. Some employees who can't remember how many years they've been married or how long it's been since their last...
2 min read
Nine Tax Considerations if You're Starting a Business as a Sole Proprietor
When launching a small business, many entrepreneurs start out as sole proprietors. If you’re launching a venture as a sole proprietorship, you need...
2 min read
Clear Overtime Policy Saves Money
It's not enough to have a one-sentence statement in your employee handbook that merely tells your employees something like this: "All time worked...
2 min read
How TMA's Payroll Service Works
Twenty-five years ago, TMA was focused solely on helping small businesses get a handle on bookkeeping and taxes. Providing payroll services was not...
2 min read
Setting Goals for Your Small Business
Setting goals plays a pivotal role in shaping the success and growth trajectory of small businesses. It's a practice that every small business owner...
4 min read
Partnerships: Tax Considerations When Adding a New Partner
Are you considering inviting an employee or an outsider to participate in your existing partnership? Before making any commitments, it's important...
3 min read
Hit the Ground Running: 7 Tips for New Business Owners
Launching a new business can be a daunting endeavor. As soon as you form the company, you'll face many important decisions — ranging from the mundane...
1 min read
Ask the Right Questions When Growing the Family Business
Profit growth and business expansion are two key goals for many family businesses. In order to successfully reach your targets, however, you must...
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
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...
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...
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...
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?...
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...
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.