Hot Topics Blog
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.
The Tax Cuts and Jobs Act’s Impact on S...
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 in January 1, 2018. Pass through businesses...More
New 2018 Tax Withholdings May Bring an Unwant...
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 for employees to review their W-4 f...More
What the End of Net Neutrality May Mean for Y...
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 were carried over in the Obama administration ...More
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 and send the Form 1095-B/1095-C to report information about each employee’s offer of health coverage, a...More
Review Your Healthcare Options – Now.
There are over 27 million self-employed entrepreneurs and micro-businesses in the United States. If your small business is anything like the other 27 million, you're probably struggling with the constant upheaval in the health insurance market. Now is the time to review your small business health insurance. What should you be looking for in small business healthcare coverage? If you are insuring your...More
Profit versus Cash Flow
Every small business financial advisor has heard it before, “If my business is profitable why don’t I have any money?” The way cash flows in and out of your business is a lynchpin for understanding business finance. There is also a huge difference between making money and managing it. So often entrepreneurs start a business because they love creating a new widget, or offering a leading-edge service, but they have lit...More
IRS Tax Notices Explained
You filed your taxes, processed all of your W-2s and 1099-Cs and think your federal reporting is in great shape – until you receive the dreaded IRS tax letter. Your stomach knots, your mouth goes dry and suddenly a clammy panic takes hold. “Be calm!” says Appletree Business Services owner Steven Feinberg, CPA. “There are all kinds of notices and letters the IRS can send, so take a deep breath and review the letter c...More
Generational Shifts in the Workplace
Baby Boomers are delaying retirement and continuing to stay in the workforce. This trend in postponed retirement can have substantial impact on other generations within the workforce seeking advancement and career changes. According to the ADP Workforce Vitality Report released in June 2017, "[the boomer] age group experienced 4.8 percent job growth during the first quarter of 2017, more than any other ag...More
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 to devise a closure plan that takes all aspects of the business into account. &nbs...More
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 be, “How much money do you have to start?” It’s a reasonable question that lea...More