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Our member accountants, tax specialists and practitioners are always looking for new ways to share their knowledge and help clients better understand the sometimes confusing world of small business finance.

 

Why Do Businesses Fail?

Small Business ClosuresRecent surveys show that the survival rate of new businesses average about 20% over a five-year period. In other words, if you start 100 new businesses today, 20 of them will still be in business five years from today. The other 80 will have gone out of business sometime during that five-year period. These are generally well-known statistics.

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Help! I'm Being Audited

"Help! I'm being audited!" cried Susan on the phone to her accountant. 

After just a few short years in business for herself, it was her first run-in with the IRS and she was panicking.  Thankfully, she had used a certified public accountant (CPA) to help her set up the business and file her taxes each year.

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Should I Hire My Spouse In My Business?

Your spouse may spend a considerable amount of time helping out at the office. Sooner or later, you will probably ask yourself the question, Are there any tax advantages to making my spouse a formal employee? While the answer depends on your individual circumstances and the structure of your business, there are a few important areas to consider before putting your spouse on the payroll. 

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Which business entity type is right for your small business? - Part I

small business owner and consultantAccording to the Kauffman Index of Entrepreneurial Activity, there were 565,000 new businesses created in 2010, the highest level of entrepreneurship in fifteen years.

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