If you engage independent contractors and pay them in the aggregate $600 or more during the year, you must report payments to them and to the IRS. In … Read more about Reporting Payments to Independent Contractors: 5 Things to Know
Avoid the 5 Things that Drive Employees Out the Door
With the “Great Resignation,” in which 4.2 million employees quit their jobs in just October 2021, small business owners need to be smart about … Read more about Avoid the 5 Things that Drive Employees Out the Door
What You Can Do About Inflation
There’s no getting around it…high inflation is having an impact on small businesses. The historic average rate of inflation is between 2% and 3%. … Read more about What You Can Do About Inflation
Thanksgiving: Why Small Business Owners Can Be Thankful
The annual national holiday of Thanksgiving for many businesses is the official start of the holiday shopping season. For some businesses, this period … Read more about Thanksgiving: Why Small Business Owners Can Be Thankful
Escaping Federal Tax Penalties
Late with filing a tax return with the IRS? Didn’t correctly figure and pay what you owe? Did something you weren’t supposed to do? Don’t worry. While … Read more about Escaping Federal Tax Penalties
Why Are You in Business?
Today’s challenges to small business owners are immense. COVID-19 aside (which, of course, is hard to put aside), there are challenges from the … Read more about Why Are You in Business?
Recovery Strategies: Staying Positive
It’s axiomatic that small business owners are optimists who, as Winston Churchill said, “see the opportunity in every difficulty.” Why else would they … Read more about Recovery Strategies: Staying Positive
10 Easy No- and Low-Cost Ways to Spiff Up Your Home Office
More and more people are working from home. The pandemic introduced many workers and business owners to this environment and, with the ebbing of … Read more about 10 Easy No- and Low-Cost Ways to Spiff Up Your Home Office
Preparing for Economic Changes: Mindset Makes a Difference
Small business owners have been through a lot in the past months. Many have seen substantial declines in revenues, some have had to pivot their … Read more about Preparing for Economic Changes: Mindset Makes a Difference
Why You’re Going to Need More Cash in 2021 for Taxes
This year has been a very difficult one for small business owners. Some tax rules have made it a little easier to defer some taxes to next year. But … Read more about Why You’re Going to Need More Cash in 2021 for Taxes
Your Insurance Audit
Most insurance policies run annually, and many business owners automatically renew their coverage without reviewing what is and is not covered. Now is … Read more about Your Insurance Audit
Preparing for Economic Changes: Meeting the Challenges from the Coronavirus
The world first heard about the coronavirus a month ago. Yet it has intruded on many aspects of life and certainly has a negative economic effect. … Read more about Preparing for Economic Changes: Meeting the Challenges from the Coronavirus
Developing Leadership Qualities: Grit
Is Grit a Vital Leadership Quality? Several months ago I read Grit: The Power and Passion of Perseverance by Angela Lee Duckworth, Ph.D. and a … Read more about Developing Leadership Qualities: Grit
Small Businesses Get RESPECT
A New Law Ensures RESPECT for Small Businesses Until now, the IRS has been able to seize funds from small business owners’ bank accounts if they came … Read more about Small Businesses Get RESPECT
Entrepreneurs Who Made the Revolution
It’s been 243 years since a group of men in Philadelphia signed the Declaration of Independence and started a revolution. Most of these 56 men were … Read more about Entrepreneurs Who Made the Revolution