Small business

With only a few days to go before the end of a difficult year, some accountants and tax professionals are still hoping to finish up some perplexing issues for their clients before New Year’s Day.

Most accountants who help clients with the choice of entity focus on the tax aspects. But in order to help clients make fully informed decisions, “personal” asset protection should be considered.

Small business owners who got Paycheck Protection Program loans could qualify for big write-offs from their rescue money, amounting to what Treasury Secretary Steven Mnuchin has called a tax-break “double dip.”

The change would make it easier for private companies and nonprofit organizations to evaluate a goodwill triggering event.

Annual meeting minutes are an important business compliance requirement, helping to keep a company in good standing with the state and maintain its protective corporate veil.

Lawmakers are seeking to address some of the PPP’s more obvious failings in the latest coronavirus bill.

The practice is helping clients deal with streamlining operations, reducing unnecessary expenditures and improving their profitability and cash flow.

The provider of payroll, benefits and HR technology for small businesses is making a push to sign up more accounting firms as partners.

The American Institute of CPAs has joined with over 560 business and trade organizations in urging Congress to pass legislation.

There are signs of a slowdown in the economy as businesses continue to struggle with rising COVID-19 infections across the country.

The guidance clears up the tax treatment of expenses when a loan from the Paycheck Protection Program hasn’t been forgiven by the end of the year.

The enforcement push comes after years of persistently low examination rates.

Be aware of cybersecurity best practices, both in internal operations and interactions with other companies.

Wages are set to go up in Florida after voters passed a minimum wage ballot initiative in Tuesday’s election.

A client of mine recently asked me what I thought was the best organizational structure for a small business, especially related to the tax issues.

The coronavirus and uncertainty over the election are slowing down employment gains.

For a few months this year, a U.S. government aid program meant for struggling small-business owners was handing out $10,000 to just about anyone who asked. All it took was a five-minute online application. You just had to say you owned a business with at least 10 employees, and the grant usually arrived within a few days.

Accountants and tax professionals have been helping their small business clients deal with the economic fallout from the COVID-19 pandemic, shifting away from their routine compliance work after the end of the prolonged tax season.

The U.S. Small Business Administration and the Treasury Department are making it easier for companies to get their Paycheck Protection Program loans of $50,000 or less forgiven.

Providing your clients with tangible actions they can take to improve cash flow may be one of the most important and impactful pieces of advice you can give.