The week of September 13-17 has been declared National Small Business Week by the Small Business Administration. To commemorate the week, here are three tax breaks to consider.
The IRS recently issued Notice 2021-49, which provides updated and additional guidance related to the Employee Retention Tax Credit (ERTC), including guidance on employer eligibility.
If your business receives large amounts of cash or cash equivalents, you may be required to report these transactions to the IRS.
Perhaps you operate your small business as a sole proprietorship and want to form a limited liability company (LLC) to protect your assets. Or maybe you are launching a new business and want to know your options for setting it up. Here are the basics of operating as an LLC and why it might be appropriate for your business.
Do you play a major role in a closely held corporation and sometimes spend money on corporate expenses personally? These costs may wind up being nondeductible both by an officer and the corporation unless proper steps are taken. This issue is more likely to arise in connection with a financially troubled corporation.
The Small Business Administration (SBA) announced Tuesday that they have awarded more than $7.5 billion in Shuttered Venue Operator Grants (SVOG) to approximately 10,000 live entertainment venues, small businesses, and non-profits.
The Commonwealth of Massachusetts has a new temporary sick leave program related to COVID-19. Under Chapter 16 of the Acts of 2021 (An Act Providing for Massachusetts COVID-19 Emergency Paid Sick Leave), employers are now required to make paid leave time available to employees for COVID-related illnesses, quarantine, and vaccinations. Employers may then apply for reimbursement from the state.
As vaccination levels rise and many areas of the country begin to fully reopen, business owners may find themselves wondering: Should we have a company retreat this year?
Life as we know it is trending back towards normal, but the professional landscape is forever changed. Employers are allowing employees to permanently work from home, which will change their respective technology needs. Developing a suitable set of technology solutions—often called a “technology stack”—helps businesses streamline operations and empowers employees to work efficiently and effectively in multiple work environments. Below we outline common examples of various business processes and applications that can be integrated with your accounting products, to help you custom-build your own technology stack.
On April 19, New York State passed a budget bill that included a Pass-Through Entity (PTE) tax election that impacts partnerships, limited liability companies treated as partnerships, and S-corporations.
