Business

The Internal Revenue Service (IRS) has announced a moratorium on new claims related to the pandemic-era Employee Retention Credit (ERC, also known as Employee Retention Tax Credit).  The pause on new claims goes into effect immediately and will last until at least 2024.   When claimed properly, the ERC is a refundable tax credit designed to… View Article

Manual transaction entry doesn’t make sense anymore – not when QuickBooks Online makes the process of importing them from your bank so easy. If you enter them on your own, you risk data transposition errors, which can create inaccuracies in your customer billing, reports, and income taxes. Plus, it takes an inordinate amount of time… View Article

When you are starting a business there are several possible business entity types that need be considered to make sure you get started off on the right foot and avoid costly mistakes that must be corrected later or those that must be changed later to maximize tax benefits. One also needs to be concerned about… View Article

Marketing efforts today depend on collecting, analyzing and leveraging data to make informed decisions. Therefore, business owners need to understand how to harness the power of data and personalization to create targeted campaigns that drive growth.  Importance of Data and Personalization in Modern Business  Businesses today collect loads of data, enabling them to understand their… View Article

Looking at expenses for one’s business is essential to reduce cash flow issues. For example, it would show if there’s too much money leaving the business or what type of scenario the business might face if there’s an unexpected and large expense that guts the business’ cash position. Tracking expenses on a monthly basis is… View Article

According to the Internal Revenue Service (IRS) and the National Federation of Independent Businesses (NFIB), almost one-third of companies see penalties due to payroll issues. Understanding a few examples, according to the NFIB, of how companies can better comply and avoid penalties is essential to smoother operations.  Underpayment of Estimated Tax by Corporations Penalty  As… View Article

When a company decides to conduct a reverse stock split, also referred to as a stock consolidation, the number of shares available to investors is reduced.  In a normal (forward) stock split, a company increases its number of outstanding shares without changing their market value. For example, one share of stock valued at $200 may… View Article

Many employers offer health flexible spending accounts (FSAs) and health savings accounts (HSAs) as part of their employee benefits packages. Both plans allow you to set aside money to pay medical expenses with pre-tax dollars, providing a significant tax benefit. But which is the better option?  Although FSAs are only available through an employer, you may… View Article

On the one hand, it’s almost a prerequisite for entrepreneurs of all types to have that “can-do spirit.” That sense that nobody else sees things quite like they do so, whatever it is they want to accomplish, it becomes something they know they’ll have to do themselves. In a lot of ways, this is an… View Article

To say that things are uncertain right now when it comes to the economy is, in all probability, a bit of an understatement.  Inflation is at levels we haven’t seen in decades. Employment costs are rising across the board. Materials in a number of industries are more expensive than ever – if you can even… View Article