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Disaster Plan
In 2013, businesses that remain C-Corporations, or Personal Service Corporations, will see a tax rate of 78.4%. That means over two-thirds of any additional profit you earn will go to Uncle Sam. How can this be? Well, you might have
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Changes to Your Tax Form That Might Open You to an Audit As a veteran tax preparer I am noticing some subtle changes occurring to corporate tax return forms. And, since individuals sign their tax returns under a declaration of
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How to file for the Health Care Tax Credit If your business pays a portion of your employee’s heath care insurance, ask your tax preparer about claiming this hidden credit. A tax credit is an actual refund of the tax
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Nine steps to assure your small business survives the unexpected Small business owners are so concerned with day-to-day operations they shove-aside the notion of needing to continuously tend to the less immediate business functions. But, if you’ve been in business
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Before beginning your search, you must first look at your needs and honestly assess your habits. After you’ve identified all of your requirements in “Finding the account that fits your business,” it’s time to start the interviews. Set aside about
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Tax Credit Questions – Solved By:Pearl Dahmen Para, CPACertified Public Accountant, MA, CBA Q: What is this credit and how will it help small business owners? The Affordable Care Act has several provisions designed to help health insurance become more
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The thousands of codes, forms and filing dates leave business owners in frenzy when it comes to tackling taxes. It would make things a bit simpler if there was some sort of reminder system or catalog with all those must-know
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If you are seeking money, lenders might not give you any until your financial projections accurately express the risk and solve how the funds will get paid back. This financial forecast is also a crucial component of any business plan.
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If you are a new business owner with limited experience with the Internal Revenue Service, you may not be aware that the IRS and the Financial Management Service (the Treasury bureau that owns EFTPS*) do not communicate payment information or
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I still can recall my economics professor explaining the concept of entrepreneurial risk. He went on to say it’s a high rate-of-return that entices the individual to seek entrepreneurship. And, if that rate is not sufficient, the individual will abandon
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Money. Is it an issue for your small business? Is the issue really money or is it your Money Per$onality? In Ray Linder’s book, “What Will I Do With My Money?,” he narrows the 16 Myers-Briggs Typing Instrument (MBTI) personality
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IRS Hobby Loss Limitation Rule: The IRS permits small business owners to deduct necessary expenses, but those expenses, or losses, might get denied if the business doesn’t make a profit in three out of five years of business activity. This
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Do you know your current profit margins? Reconciling bank and credit card accounts is paramount to making solid business decisions! Not too long ago, business owners didn’t have a choice but to plunk away at a keyboard to enter hundreds
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So, the bank declined your request for a business loan. Did they ask, Do you have any “marketable collateral”? When you indicated that you only had business assets, did they respond, “I am sorry, but we do not finance businesses
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Understanding the verbal jargon related to the new health care legislation can be confusing for most small business owners. Essentially, the law entices small employers to provide health care coverage by refunding income taxes that small businesses pay. The small
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June 2010 Employment Report Private Employment Up, Government Employment Down, & Unemployment Rate Down The U.S. Bureau of Labor Statistics released today its report on employment for June 2010 (BLS Employment Report June 2010). The good news was that temporary
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If you are a business owner and you think shrinkage is what happened to your clothes after a trip to the cleaners, you really should read on. In business, shrinkage usually describes the financial losses caused by employees. For a
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Accountaphobia [uh-kount-a-foh-bee-uh] n. An abnormal fear of accounting software or bookkeeping in general. You probably didn’t go into business because you loved number-crunching. So, why do you spend so much time doing just that? Let these classes help you get
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Tax Planning
Each month, your SBDC Certified Business Analysts provide Small Biz Insights to help you formulate strategies to grow your business. Here’s what you indicated were your favorite tips in the past year (or so) based on the articles with the
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Changes to Your Tax Form That Might Open You to an Audit As a veteran tax preparer I am noticing some subtle changes occurring to corporate tax return forms. And, since individuals sign their tax returns under a declaration of
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It would be a terrific idea if a small business owner didnt have to worry about providing health care coverage for its employees. Which is essentially what the Patient Protection Act lays outso small employers can compete for quality workers.
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Understanding the verbal jargon related to the new health care legislation can be confusing for most small business owners. Essentially, the law entices small employers to provide health care coverage by refunding income taxes that small businesses pay. The small
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Watch OUT, the IRS is Watching Most health care practices are structured as S-corporation. The justification is that, once the practice owner is paid a fair-market-value wage, the remaining distributions are treated as investment income and not subject to Social
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Health Care Act Reshapes Tax Code: Did you know the Patient Protection and Affordable Care Act (PPAC) impose a 3.8% Medicare tax on investment income? If you own a successful S-corporation with substantial flow-thru profits, you may find yourself paying
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The IRS recently presented information on the Hiring Incentives to Restore Employment (HIRE) Act enacted into law today. Read the full release here. From the release “Employers who hire unemployed workers this year (after Feb. 3, 2010 and before Jan.
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