Proactive Year-End Tax Planning For Growing Small Businesses
For many small business owners, strong revenue growth is a welcome sign of success. However, higher profits can also lead to a larger tax bill. If your business is on
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IRS Audits & Small Businesses: Key Risks, Common Triggers, & Preparation Tips
An IRS audit can be intimidating, but most examinations are routine and manageable when business owners maintain accurate records and respond promptly to requests. While IRS audit rates remain relatively
Repair Vs. Improvement: Tax Rules Businesses Should Review Before Year End
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 Tax Compliance: Mistakes To Watch For & How To Respond
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
Employee Fringe Benefits: What’s Tax-Free & What’s Changing
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? Bartering Is Still Taxable
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
Schedule C, Self-Employment Tax, & Qualified Business Income: A Sole Proprietor’s Tax Guide
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.
New Markets Tax Credit Benefits For Businesses & Investors
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 Red Flags Employers Should Know
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.
Employer-Provided Child Care Credit Expanded For 2026
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