New Alert from the IRS – Watch Out for Business Email Compromise Scams

The Internal Revenue Service has issued a warning to businesses today about a new email scam. It involves scammers impersonating company executives in emails to gain access to W-2 forms, wire transfers, and other potentially damaging information. Read on to see how you and your business can protect yourself.   WASHINGTON – The IRS, state tax agencies and the tax … [Read more...]

Outlining the Trump Tax Plan

As a candidate in 2016, Donald Trump promised significant tax reform. A few months after becoming President, Trump released a one-page outline of his goals in that area. As the year goes on, we will see many discussions and changes to the plan. This is a review of the original outline, showing the major areas that will be addressed.  Taxes on Businesses President Trump … [Read more...]

How to Account for Employees Under the Affordable Care Act

With the recent defeat of healthcare reform in the US Senate, it is important to remember that businesses are still bound by the rules and regulations of the Affordable Care Act. We will be reviewing the basics of how the ACA affects small businesses, large corporations, and individuals. Today's topic - how to account for your employees under the Affordable Care … [Read more...]

The Affordable Care Act – How it STILL Affects Large Businesses

With the recent defeat of healthcare reform in the US Senate, it is important to remember that businesses are still bound by the rules and regulations of the Affordable Care Act. We will be reviewing the basics of how the ACA affects small businesses, large corporations, and individuals.    More than 50 employees? Here’s how the Affordable Care Act affects … [Read more...]

The Affordable Care Act – How it STILL Affects Small Businesses

With the recent defeat of healthcare reform in the US Senate, it is important to remember that businesses are still bound by the rules and regulations of the Affordable Care Act. We will be reviewing the basics of how the ACA affects small businesses, large corporations, and individuals. First up - small businesses.   Less than 50 employees? Here’s how the … [Read more...]

Solo 401(k) Plans Available for Companies Without Employees

Retirement benefits like 401(k) plans have become common in many businesses with employees. But even the smallest of businesses can have a 401(k) plan for retirement. One-person 401(k) plans, known by names such as Solo 401(k) and Uni-k, are available. For some business owners and self-employed people, a Solo 401(k) may offer a chance to save more for retirement with … [Read more...]

Is an employee stock ownership plan good for your business?

Small businesses have many retirement plan options they can offer to their workers.  Employee stock ownership plans (ESOP) can be an effective way to provide retirement benefits to your employees. An ESOP is a process for transferring company ownership to employees. How does that work as a retirement plan? In some ways, an ESOP is like a profit-sharing plan based on … [Read more...]

Buy-Sell Agreements are Vital for Small Businesses

Businesses with more than one substantial co-owner should have a buy-sell agreement. This agreement can help all parties when the inevitable happens and one of the owners no longer can or will participate in the company as they had been. For the best result, your buy-sell should include a plan for what will happen when these so-called “trigger events” occur. Owner’s … [Read more...]

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...]