Small Business Archives

The Art of Running a Successful Family Business: Breaking Things Down

At its core, a family business is exactly what it sounds like: a company owned, operated, and managed by at least two people from the same family. Whether it’s parents and their children, siblings, or another family dynamic, the key element…

Were You Affected by a Disaster Loss?

With the wildfires in the west, hurricanes, and flooding in the southeast and eastern seaboard, we have had several presidentially declared disaster areas this year. Use the FEMA site to determine if you are within a federally declared disaster…

Business Startup, Small Business

Sole Proprietorships – Don’t Overlook the Liability Issues

If you are considering starting a business, the simplest and least expensive form of business is a sole proprietorship. A sole proprietorship is a one-person business that reports its income directly on the individual’s personal tax return…

Small Business

Mergers and Acquisitions 101 for Small Business Owners

If you’re a small business owner or an aspiring entrepreneur, mergers and acquisitions probably sound like something that happens at an entirely different operational level from the one where you live and work. But if you’ve put the time…

Small Business

Here’s What Happened in the World of Small Business in April 2021

Here are five things that happened this past month that affect your small business. 1) President Biden announced tax credits for COVID-19 vaccination paid time off. The President announced on April 21st “tax credits for certain businesses…

Small Business

7 Personal Finance Tips for Freelancers and Gig Workers

Freelance work and the gig economy have taken the nation by storm. A study commissioned by the Freelancers Union and freelance platform Upwork revealed that the gig economy’s work force reached an eye-popping 57 million Americans in 2019,…

Small Business

Employee Retention Credit Extended

In order to help trades and businesses to retain employees and keep them employed during the COVID-19 crisis, the Coronavirus Aid, Relief, and Economic Security (CARES) Act created the Employee Retention Credit for 2020. As part of the Consolidated…

Small Business

4 Questions Business Owners Should Consider During the 2020 Tax Season

As if 2020 wasn’t challenging enough, this season’s tax-filing is going to be even more complicated than usual. Though the CARES Act and the Paycheck Protection Program were put into place to help small businesses, the old adage about “no…

Small Business

Employee Holiday Gifts May Be Taxable

It is common practice this time of year for employers to give their employees gifts. Where a gift is infrequently offered and has a fair market value so low that it is impractical and unreasonable to account for it, the gift’s value would…