Small business

The economy continued to grow in the wake of the new tax law.

Paychex reported a slight increase in job and wage growth at small businesses in May, although the pace of wage growth dipped slightly compared to last year.

The House Ways and Means Tax Policy Subcommittee held a hearing Wednesday on how the new tax law is affecting small businesses, hearing testimony from a CPA firm owner and others.

The private equity firm has bought a provider of financial software and information on private companies that caters to accounting firms and banks.

Though all business owners face a variety of barriers when starting and running their companies, restaurant owners must manage a unique set of payroll and HR circumstances.

The 20 percent pass-through deduction could provide a major benefit for gig economy workers and the self-employed, but there are also some important caveats.

When I was a junior accountant eons ago, my boss would always give me the cash to reconcile or audit, the minutes to “abstract,” and the internal control questionnaire to go over with the controller or bookkeeper.

With the deadline looming for private companies to comply with the new revenue recognition standard, many companies are still in the assessment stage and have yet to start the actual implementation work.

The Internal Revenue Service’s Chief Counsel has issued a memorandum providing advice on unreported tip income, with the caveat that the advice cannot be used or cited as precedent.