10 Things to Know About Your Paycheck and Payroll Taxes
It’s National Payroll Week. Here are 10 things workers and employers should know about withholding, payroll taxes, worker classification, records, and more.
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What Is Bonus Depreciation? Taxes From A to Z®
Learn how bonus depreciation works, which business property qualifies, and how OBBBA’s restored 100% deduction affects property acquired after January 19, 2025.
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Make Your 4th Quarter Estimated Payments By January 17
Heading back to the office after the holidays is always challenging. But as you get back to work—and get busy—don’t forget to make your fourth-quarter estimated tax payments. They are due on or before January 17, 2023. Who Needs To Make Estimated Payments? Generally, you should make estimated tax payments if you are not subject…
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What You Need to Know About Setting up Your Business
Small businesses remain the backbone of our country. According to the latest information from the Small Business Administration, the U.S. has 31.7 million small businesses—independent businesses with fewer than 500 employees. Those small businesses have made a big impact. Since 2000, they’ve created 65.1% of new jobs. From 2000 to 2019, small businesses generated 10.5…
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Businesses Can Save Big with Employee Retention Credit Relief
In March of 2020, Congress introduced a new tax credit: the Employee Retention Credit (ERC) as part of the CARES Act. The ERC was a direct response to the pandemic and was designed to help businesses keep employees on the payroll. But the ERC got off to a rocky start and was quickly overshadowed by…
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What Business Owners Need To Know About Taxes When Customers Won’t Pay
Are your accounts receivables piling up? With so many people out of work, many businesses are experiencing slow payers and (gulp) non-payers. If you’re not sure about the practical and tax aspects of handling those accounts, here are a few things to keep in mind. Don’t assume that you can send a Form 1099-C for…
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Bookkeeping Is More Than Just Numbers: Understanding Why It Matters
Bookkeeping is an important factor of properly running a business. Many people tend to think that bookkeeping and accounting are one and the same. However, they can be very different. Bookkeeping is the recording of all financial transactions within a business. Kelly invites Nicole Davis to cover everything you need to know on how to…
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Taxes From A To Z 2020: O Is For Ordinary & Necessary
It’s my annual Taxes from A to Z series! If you’re wondering how to figure basis for cryptocurrency or whether you can claim home office expenses during COVID, you won’t want to miss a single letter. O is for Ordinary and Necessary. To claim a deduction for business expenses, Section 162 of the Tax Code…
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Desperation & Small Business Loans In A Time Of Crisis
Join us in kicking off our new podcast hosted by Kelly Phillips Erb. During this episode, Kelly invites a guest host, Jeff Grant, to discuss his experience with applying for a small business loan – and what followed. Taking On Small Business Loans Jeff Grant is someone who has followed through with a business loan…
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Treasury Plans To Make Names Of Some PPP Borrowers Public
If you follow me on Twitter, you’d know that our law firm didn’t take out a Paycheck Protection Program (PPP) loan. But if we had, you might soon know the details – down to how much money we had received: Treasury and the Small Business Administration (SBA) have agreed with the bipartisan leaders of the U.S. Senate…
