Business property costs can create valuable tax deduction opportunities, but the classification matters. Ordinary repair and maintenance costs are generally deductible in the year they are paid or incurred, depending
Payroll administration can be challenging for small business owners, and mistakes can create problems for both employers and employees. Incorrect paychecks can frustrate employees and require time and resources to
To attract and retain skilled workers, your small business needs to offer more than competitive pay. Your benefits package matters, too, and benefits with favorable tax treatment can be especially
Trading goods or services without exchanging cash has long been common among small businesses with some even using online barter exchanges to help facilitate trades. Such transactions may help preserve
Many small businesses begin as sole proprietorships because the structure is simple and cost-effective to establish and maintain, while giving the owner direct access to business profits without formal distributions.
Obtaining capital for things like expansion, equipment, facilities, and other investments is often difficult for businesses in economically distressed communities. One way to help those communities is offered through the
Form W-4, “Employee’s Withholding Certificate” is utilized by employees to inform you as their employer how much federal income tax to withhold from their pay. Usually, these forms remain routine.
For an employer, one effective way to attract and retain skilled workers is by offering a variety of employee benefits. A popular benefit among employees with families is employer-provided child
For even the most organized small business owners, tax problems can still occur. These small business tax issues can be stressful, especially when penalties and interests begin to add up.
An important consideration for small business owners is whether to use the cash or accrual accounting methods for federal income tax purposes. For larger entities, the accrual method is required.
