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The Tax Cuts and Jobs Act’s Impact on Small Business
For the first time since 1986, the U.S. Congress passed major tax changes affecting both individuals and businesses across the country. The Tax Cuts and Job Act of 2017 (TCJA) has far-reaching impact for many business types and individuals. Business Taxes The corporate income tax rate is permanently lowered from 35 to 21 percent starting […]
New 2018 Tax Withholdings May Bring an Unwanted Surprise
The Treasury Department recently announced revisions to the 2018 withholding tables to reflect the changes spurred by the Tax Cuts and Jobs Act (TCJA). Included in the law, employers can use worker’s existing W-4 Forms already on file to make the adjustments to their withholding. What that means for employers: Since it isn’t mandatory […]
What the End of Net Neutrality May Mean for Your Small Business
Net neutrality is the concept that the internet service providers should provide equal access to web sites regardless of content or the source. The idea is that by allowing equal access everyone, big business or small, average Joe or superstar has the same access to information on the Net. The current net neutrality laws […]
ACA Reporting Extension Announced
If you were panicking about getting those pesky Forms 1095-B and 1095-C’s out to your employees by January 31, 2018, there’s a little good news. The IRS announced an extension on December 22, 2017 that now provides additional time for Applicable Large Employers (ALEs), those employers with 50 ore more full time employees, to prepare […]
Steps to Closing Your Business
Closing a business is never an easy decision, but the speed in which it can occur depends on your tactics. If you are a sole proprietor, you could close up shop without consulting any other parties. That’s not necessarily the wisest move, especially if you value your reputation both personally and professionally. Take the time […]
Estimating Small Business Start-up Costs
No business ever starts with the problem of having too much money. Barring a lottery ticket win that spurs endless cash into a venture, most entrepreneurs take the leap into business ownership with a shoestring budget and gut determination. If you’ve ever sat down with a business advisor one of the first questions asked will […]
Retirement Plannning for Small Business
Business owners, especially those born between 1946 and 1966, are at a higher risk of not saving for retirement. In fact, the 2016 Retirement Preparedness of the Boomer Generation by the Insured Retirement Institute showed that “American’s today are less prepared and less confident about their prospects for a comfortable retirement than ever before.” The […]
New to Small Business?
If you started a new business in 2016, then April of 2017 is a first big milestone for your company. That’s the month when your first reported tax documentation is due to the IRS. Depending on your business type, you may be responsible for not only the business’ filings, but also other shareholders or partners […]
