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Small Business Owners

How a lockbox or other service can benefit accounts receivable

Leave a Comment / Accounts Receivable, Automnated Clearing House (ACH), Billing and Collections, Electronic Payments, Small Business, Small Business Owners, Small Business Tips /

For decades, businesses have used bank lockbox services to speed up collections and reduce administrative work involved in processing customer checks. Today, the basic idea remains the same, but modern lockbox services can automate your accounts receivable processes. Automated clearing house (ACH), credit card and instant-payment services can also provide efficient collections. So the question […]

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Tax essentials for sole proprietors

Leave a Comment / Federal Income Tax, Federal Taxes, Home Office Deduction, One, Big, Beautiful Bill Act, Qualified Business Income Deducton (QBI), Self Employment Tax, Simplified Employee Pension (SEP), Small Business, Small Business Owners, Small Business Tax Tips, Sole Proprietors, Tax Planning, Tax-Advantaged Retirement Plan /

Many small businesses start out as sole proprietorships. This structure is simple and inexpensive to establish and maintain — and it gives the owner direct access to profits without having to take formal distributions. But it also makes your taxes more complicated than when you were a W-2 employee. Here are some federal tax issues

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Professional valuations provide businesses with more than a number

Leave a Comment / Business Valuation, Intangible Assets, Small Business, Small Business Owners, Small Business Tips /

Are you selling your business, soliciting new investors, updating a buy-sell agreement, pursuing litigation or drafting an estate plan? An accurate business valuation prepared by a valuation professional is critical to the success of these and many other activities. Knowing some fundamentals about the process can help you understand your valuator’s conclusions, what drives business

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Could the New Markets Tax Credit benefit your business?

Leave a Comment / Small Business, Small Business Owners, Small Business Tax Tips, Small Business Tips, Tax Credits, The New MNarkets Tax Credit (NMTC) /

Businesses in economically distressed communities often have difficulty obtaining capital for expansion, equipment, facilities and other investments. The New Markets Tax Credit (NMTC) encourages private investment in these underserved areas by offering federal income tax credits to qualifying investors. This credit was previously scheduled to expire on December 31, 2025. However, the One Big Beautiful

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The right financial guidance can help maximize your business’s potential

Leave a Comment / Accounts Receivable, Cash Flow, Financial Projections, Financial Statements, Small Business Owners, Small Business Tips /

Financial information is the foundation for every important business decision. Whether your goal is to improve cash flow, launch a new offering, hire additional workers or expand into a new market, accurate data enables you to make decisions confidently. An experienced advisor can help prepare this data and ensure your business is poised to capitalize

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The new-and-improved credit for employer-provided child care

Leave a Comment / Child Tax Credit, Employer-Provided Child Care, Full Time Employees, Small Business, Small Business Owners, Small Business Tips /

Offering a broad menu of employee benefits can help your business attract and retain skilled workers. One benefit that’s popular among employees with families is employer-provided child care. Although this option hasn’t been financially feasible for many small businesses, recent tax law changes may give you a reason to reconsider opening (or upgrading) a child

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How to build a stronger workforce with a strategic onboarding process

Employees, Small Business, Small Business Owners, Small Business Tips /

U.S. Bureau of Labor Statistics data shows that hiring has slowed in recent months. Even so, thousands of people continue to start new jobs, and every new hire represents a significant investment of time and money for organizations. With labor costs remaining a concern for many businesses, it’s more important than ever to help employees

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FAQs about resolving small business tax issues

(OIC) Offer In Compromise Tax Program, Failure To Pay Tax Penalty, Failure-To-File Tax Penalities, Federal Income Tax Filing, Payroll Tax, Small Business, Small Business Owners, Small Business Tax Tips, Small Business Tips, Tax Planning /

Tax problems can happen to even the most organized small business owners. A cash flow crunch, an unexpected tax notice, a missed filing deadline or a payroll tax oversight can be stressful — especially when penalties and interest begin to add up. Fortunately, businesses can get back on track by addressing tax issues promptly and

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Stress testing: A smart way to manage today’s business risks

Risk Management, Small Business, Small Business Owners, Small Business Tips, Stress Testing /

Business owners today face no shortage of uncertainty. Persistent inflation, evolving trade policies, cybersecurity threats and ongoing geopolitical tensions have made planning challenging. Although it’s impossible to predict every disruption, you can better prepare by evaluating how your business would respond under adverse conditions. One proven approach is stress testing, which helps organizations identify vulnerabilities

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Selecting a tax accounting method for your small business

Accounting, Accrual Method of Accounting, Cash Method of Accounting, Farming Businesses, Partnerships, Personal Service Corporations (PSCs), S Corporation, Small Business, Small Business Owners, Small Business Tips /

Small business owners must answer an important question: Should we use the cash or accrual accounting method for federal income tax purposes? Larger entities are required to use the accrual method. But certain small businesses can elect to use the cash method. You may want to consider this option if it will help lower your taxes. However,

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