What a new administration means for small business This year’s election results mean changes…a new administration and a new Congress. What affect … Read more about In D.C. It’s Out with the Old and In with the New: What it Means for Small Business
Business Owner’s Documents Review: Estate Planning Issues
“[I]n this world, nothing is certain except death and taxes.” – Benjamin Franklin COVID-19 has resulted in nearly 290,000 deaths in the U.S. in 2020. … Read more about Business Owner’s Documents Review: Estate Planning Issues
What Does Partnership and LLC Status Mean from a Tax Statistics Perspective?
A profile of partnerships and LLCs from a tax perspective A partnership is not a taxpaying entity, but files an annual tax return, Form 1065, to … Read more about What Does Partnership and LLC Status Mean from a Tax Statistics Perspective?
Year-End Bonuses for a Year Like No Other
It’s been reported that about 66% of all businesses plan to give year-end bonuses in 2020. But is this true for small businesses? Many have closed; … Read more about Year-End Bonuses for a Year Like No Other
When Is It Time to Close a Business?
According to TrackTheRecovery.org, the number of small businesses that were open on November 16, 2020, as compared with January 1, 2020, decreased by … Read more about When Is It Time to Close a Business?
The Go-To-Tax Guide for Small Business Owners and Their Advisors
For more than 25 years, I’m proud to say my tax book for small businesses has been the go-to-tax-guide for owners and their tax advisors. The J.K. … Read more about The Go-To-Tax Guide for Small Business Owners and Their Advisors
What Is “Work Time?”
Under the Fair Labor Standards Act (FSLA), employers must compensate hourly employees for the time they work and pay time and a half for working more … Read more about What Is “Work Time?”
Gratitude on this Thanksgiving 2020
Gratitude is defined as “the quality of being thankful; readiness to show appreciation for and to return kindness.” Harvard Medical School … Read more about Gratitude on this Thanksgiving 2020
5 Simple Tips for Staying Connected with Coworkers and Associates
“We don’t accomplish anything in this world alone…and whatever happens is the result of the whole tapestry of one’s life and all the weavings of … Read more about 5 Simple Tips for Staying Connected with Coworkers and Associates
Answers to Year-End Tax Planning Questions
On November 3, 2020, I did a SCORE LIVE webinar on Year-End Tax Planning for Your Business (you can listen to a recording). Due to high attendance, … Read more about Answers to Year-End Tax Planning Questions
Preparing for Economic Changes: Added Costs of Doing Business
Economic change can result from any number of factors. The one most prominent now is the pandemic, which caused dramatic shifts in the business … Read more about Preparing for Economic Changes: Added Costs of Doing Business
5 Ways Not to Waste Your Time and Efforts
Time is a precious commodity. If you are now working remotely and saving minutes or hours each day that you don’t have to commute, it’s still … Read more about 5 Ways Not to Waste Your Time and Efforts
Veteran-Owned Small Businesses
Veterans Day—November 11—each year is a celebration to honor America’s veterans for their patriotism, love of country, and willingness to serve and … Read more about Veteran-Owned Small Businesses
Tax Changes from COLAs for 2021
Due to cost-of-living adjustments (COLAs), various limitations and amounts used for tax deductions, credits, and other purposes, the tax rules for … Read more about Tax Changes from COLAs for 2021
Payroll Tax Issues for Remote Workers
Telework was a growing practice before the pandemic. With stay-at-home orders, the number of employees working remotely skyrocketed. Even as these … Read more about Payroll Tax Issues for Remote Workers
