Small business

Many firm owners are not too ambitious and do not want to grow.

The American Institute of CPAs presented testimony Tuesday during a hearing conducted by the Treasury Department and the Internal Revenue Service about the proposed regulations for implementing the qualified business income rules under the Tax Cuts and Jobs Act.

The new revenue recognition standard doesn’t only affect publicly traded corporations and large privately held companies. It could have an impact on small businesses, particularly if they hope to obtain bank loans next year.

Paychex reported slight gains last month in employment and wage growth at small businesses, as the tight labor market appears to be holding back more robust growth.

Hiring kept up its robust pace with the help of tax cuts.

Even in firms that want to grow, some partners do not.

The future of work is as important as ever, but the expression is now a bit of a misnomer because new technology and a new generation of employees have made that long-discussed future a reality.

The deal will expand the Georgia-based firm’s client base of McDonald’s franchisees to dozens of other states.