The Home Office Deduction – Simplified

If you use your home for business, you may be able to deduct expenses for the business use of your home. If you qualify you can claim the deduction whether you rent or own your home. Now you can use either the simplified method or the regular method to claim your deduction. Here are six tips that you should know about the home office deduction. Regular and Exclusive … [Read more...]

Keeping Employee Records Organized

Small business owners have to take on many different roles to keep their businesses running. Human resources management is one of the most important, and often overlooked, areas that a lot of business owners have to handle themselves. Properly maintaining personnel files is an important key to success. Keeping good employee records is important to many different aspects … [Read more...]

Record Retention for Businesses – Don’t Get Buried!

Guidelines for Business Record Retention As your business grows, it is hard to keep track of all the paperwork that comes with owning a business. Having a record retention schedule for document storage can save a lot of space and headaches. Carpenter, Evert and Associates has compiled a comprehensive list of business documents and guidelines on how long to store the … [Read more...]

Small Business Week – Helpful Resources for Entrepreneurs

It's National Small Business Week! Sponsored by the Small Business Administration, this week celebrates the American entrepreneurial spirit with events throughout the country and access to vital information that every small business owner needs. Whether you’re starting a new business or managing an existing one, you need as many resources as possible to help you … [Read more...]

Tax and Accounting News for Small Businesses

A Dozen Deductions for Your Small Business By Dana Dratch at Small-business tax rule No. 1: Don't mess with the IRS. But that doesn't mean you should cheat yourself. Take every legal deduction you can. Here are a dozen that even savvy small-business owners and entrepreneurs sometimes forget.?>>> Read More 5 Tasks Entrepreneurs Are Better Off … [Read more...]

Small Business Owners – What’s Keeping You Up at Night?

Employees, cash flow, rules and regulations, taxes, competition, burnout. The list of concerns for a small business owner can seem endless. Carpenter, Evert and Associates is gathering data about these concerns so we can give you the information you really need. Click on the link below to give us your opinions on the biggest concerns that small business owners have … [Read more...]

25th Anniversary of the Americans With Disabilities Act: Four Important Tax Benefits

This week is the 25th anniversary of the Americans with Disabilities Act, and the IRS is marking the occasion by spotlighting a number of tax benefits that can help taxpayers with disabilities and their employers. 1. ABLE Accounts. This new program was passed by Congress in December. Under the law, states can offer specially designed, tax-favored Achieving a Better Life … [Read more...]

IRS offers relief to small businesses that haven’t filed their retirement plan returns.

News from the IRS this week: WASHINGTON —The Internal Revenue Service today encouraged eligible small businesses that did not file certain retirement plan returns to take advantage of a low-cost penalty relief program enabling them to quickly come back into compliance. The program is designed to help small businesses that may have been unaware of the reporting … [Read more...]

The Affordable Care Act – How to Account for Seasonal Workers

When determining if your organization is an applicable large employer, you must measure your workforce by counting all your employees.  However, there is an exception for seasonal workers. If an employer’s workforce exceeds 50 full-time employees for 120 days or fewer during a calendar year, and the employees in excess of 50 who were employed during that period of no … [Read more...]

How many full-time employees do you really have?

The Employer Shared Responsibility provisions of the Affordable Care Act are based on the number of employees a business has. A business with over 50 full-time (or full-time equivalent) employees has certain responsibilities to provide group health insurance or make shared responsibility payments. Read more about the Employer Shared Responsibility Provisions It’s … [Read more...]