Accounting, Tax

The end of the year is the perfect time to step back, take a deep breath and see what worked, what needs improving and what needs scrapping according to most business experts.

Occupational fraud is a significant threat to small businesses. 

When the IRS issues a request for information about a company’s tax returns, panic usually ensues.

At least once a month, quarter or year, taxes give small businesses nightmares. The sheer number of different taxes is mind-boggling, and the rush to review sales, put together multiple returns and mail everything out on time is chaotic. It kills time and sanity better spent growing a business.

No onestarts a business for the pleasure of paying taxes.

That is why Jonathan Barsade, CEO of Exactor, argues the need to rethink the boundaries of do-it-yourself (DIY) business. The hectic tax rush needs to become a thing of the past.

Many employers are not aware that federal tax rules allow premium payments for long-term care insurance to be treated as medical expenses.

Years ago, a business owner sat talking on the phone while employees frantically put up a show booth after its shipment to the trade show was delayed.

As attendees filtered into the hall, employees were still stapling background signs and assembling product.

The one-time tax break for buying new or used equipment ends December 31st for small businesses. 

The tax incentive for up to $500,000 expires at the end of the year and small businesses should take advantage of this incentive to upgrade resources.

A recession-generated decline in small business loan activity continues with the latest Small Business Administration (SBA) detailing a significant reduction in loans under $100,000.

Nothing scares a small-business owner more than receiving a letter from the IRS demanding an audit. It’s no surprise that small companies are more susceptible to an audit than larger companies. Therefore, it’s important to know how to survive one.