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Small Business

Business owners: Be sure you’re properly classifying cash flows

Accrual Method of Accounting, Accrual-Basis Taxpayers, Cash Flow, Financial Statements, Small Business, Small Business Owners /

Properly prepared financial statements provide a wealth of information about your company. But the operative words there are “properly prepared.” Classifying information accurately isn’t always easy — especially as the business grows and its financial transactions become more complex. Case in point: your statement of cash flows. Customarily, it shows the sources (money entering) and […]

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Marketing your B2B company via the right channels

Business Digital Marketing, Business to Business (B2B), Marketing, Small Business, Small Business Owners, Virtual Channels for Small Business Markeing /

For business-to-business (B2B) companies, effective marketing begins with credible and attention-grabbing messaging. But you’ve also got to choose the right channels. Believe it or not, some “old school” approaches remain viable. And of course, your B2B digital marketing game must be strong. Press releases It doesn’t get much more old school than this. Launching a

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Surprise IT failures pose a major financial risk to companies

Cyberdefenses, Cybersecurity, Information Technology (IT), Risk Management, Small Business, Small Business Owners, Small Business Tips /

It’s every business owner’s nightmare. You wake up in the morning, or perhaps in the middle of the night, and see that dreaded message: “We’re down.” It could be your website, e-commerce platform or some other mission-critical information technology (IT) system. All you know is it’s down and your company is losing money by the hour.

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Employers: In 2025, the Social Security wage base is going up

Employees, FICA, Payroll Tax, Self Employment Tax, Small Business, Small Business Owners, Social Security /

As we approach 2025, changes are coming to the Social Security wage base. The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $176,100 for 2025 (up from $168,600 for 2024). Wages and self-employment income above this amount aren’t subject to Social Security tax. If your business

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Turnaround acquisitions are risky growth opportunities for today’s companies

Cash Flow, Merger & Acquisition, Organic Sales Growth, Small Business, Small Business Owners /

When it comes to growth, businesses have two broad options. First, there’s organic growth — that is, progress made through internal efforts such as boosting sales, expanding into other markets, innovating new products or services, and improving operational efficiency. Second, there’s inorganic growth, which is achieved through externally focused activities such as mergers and acquisitions

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Is your money-losing activity a hobby or a business?

Federal Income Tax, Hobby or Business, Itemized Deduction, Small Business, Small Business Owners /

Let’s say you have an unincorporated sideline activity that you consider a business. Perhaps you offer photography services, create custom artwork or sell handmade items online. Will the IRS agree that your venture is a business, not a hobby? It’s an essential question for tax purposes. If the expenses from an activity exceed the revenues,

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How your business can prepare for and respond to an IRS audit

IRS Audit, Small Business, Small Business Owners /

The IRS has been increasing its audit efforts, focusing on large businesses and high-income individuals. By 2026, it plans to nearly triple its audit rates for large corporations with assets exceeding $250 million. Under these plans, partnerships with assets over $10 million will also see audit rates increase tenfold by 2026. This ramp-up in audits is part

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Working capital management is critical to business success

Accounts Payable, Accounts Receivable, Assets, Capital Management, Cash Flow, Inventory Management, Small Business, Small Business Owners, Working Capital In Business /

Success in business is often measured in profitability — and that’s hard to argue with. However, liquidity is critical to reaching the point where a company can consistently turn a profit. Even if you pile up sales to the sky, your bottom line won’t flourish unless you have the cash to fund operations to fulfill all

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C Corporation, Capital Gains, Estate Planning, Limited Liability Partnership (LLP), LLC, Pass Through Taxation, Past-Through Entities, Real Estate, Small Business, Small Business Owners, Small Business Tax Tips /

Does your business require real estate for its operations? Or do you hold property titled under your business’s name? It might be worth reconsidering this strategy. With long-term tax, liability and estate planning advantages, separating real estate ownership from the business may be a wise choice. How taxes affect a sale Businesses that are formed

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