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.
Tax Credits Just for Small Business
Tax credits are important for business. For each tax credit dollar, the tax payer will receive one dollar in tax reduction. There are certain tax credits earmarked specifically for small business use. Let’s review each one as well as the definition of small business as each credit may have different assumptions. 1. Research Credits – The IRS recently issued additional guidance (IR-2017-70, March 30, 2017...More
Your Computer has been Locked.
These dreadful words can mean not just a headache for your business, but thousands or even hundreds of thousands in order to retrieve your company’s most precious commodity, data. Ransomware attacks increased from one every two minutes to one every 40 seconds from January to September 2016 alone, says a report from security company, Kaspersky Lab. Further, the research showed that small and medium sized businesse...More
Smart Ways to Work More Efficiently
There’s working and then there’s w-o-r-k-i-n-g. Learning the ins and outs of being more effective when you work is the key that successful entrepreneurs seem to have mastered while you’re struggling to pay the bills and find a clerk for the front of your store. Effective entrepreneurs know when to bring in additional resources to grow their businesses and when technology can also impart ad...More
IRS Extends ACA 6055 and 6056 Reporting Deadl...
If you are an Applicable Large Employer (ALE) required to produce 1095-C and 1095-B Health Coverage notifications to your employees, there’s a little good news. The IRS announced last week that it would be extending the deadline for reporting the 2016 1095-B, Health Coverage and the 2016 Form 1095-C Employer-Provided Health Insurance Offer and Coverage from January 3...More
Acquiring a Business? A Guide to Acquisition ...
Expanding your growing enterprise is an exciting proposition but finding financing to help acquire a new business can be a challenge. Add to that a difficult lending market and an increasing seller-funding trend and you may find yourself in unchartered financial waters. Expanding your growing enterprise is an exciting proposition but finding financing to help acquire a new bu...More
Increases and Changes to IRS Tax Limits for 2...
The IRS released 2017 adjustments to more than 50 tax provisions as well as providing updated tax rate tables for individuals, estates and trusts (Rev. Proc. 2016-55). These revisions will be used for both tax preparation for 2017 and tax year reporting due in 2018. The bullets below are highlights from the list that would be of interest to a majority of taxpayers. For...More
Five Steps for Hiring the Right Sales People
You’ve worked day and night to build your business and now you’re finally to the point where you think a sales person or two could take your business to the next level. Finding and trusting someone to go out into the universe and speak and sell on behalf of your organization is a big step. If they don’t represent the business well, g You’ve worked day and night to build your business a...More
Need Help and Want to Hire Outside the Box?
Returnshippers, those talented 40-somethings who have either stayed home to rear children and manage the household or have been underemployed since the Great Recession are returning to the job marketing in unique ways. Short-term paid positions that allow those stay at home moms to rejoin the work force, regain skills and rebuild their resumes. Returnships, a phras...More
Ready to change your business’ perspect...
Horizontal or Vertical Market strategies can make the difference. Horizontal or Vertical Market strategies can make the difference. Two methods of building a market strategy consist of vertical and horizontal markets. Vertical Marketing Systems, or VMS, seek to achieve efficiencies through economies of scale by focusing on a niche portion of a larger market segment. Horiz...More
Starting a Small Business? Your Financial I.Q...
Dreaming about starting a business can quickly shift from spending your days enjoying your passion to stressful days of managing cashflow. Like many small business owners, working a passion is very different than managing cash, paying employees, and planning for growth. Dreaming about starting a business can quickly shift from spending your days enjoying...More