The Employee Retention Credit (“ERC”) was originally enacted as part of the first wave of pandemic relief in March of 2020. Since then, it has been modified and expanded to make many small businesses eligible. Read More

Are you optimistic about the future of your small business? The National Federation of Independent Business (NFIB) reported in April 2022, that the number of businesses expecting brighter days ahead has dropped to its lowest Read More

In general, the value of statutory fringe benefits paid to employees is exempt from federal income tax. But special rules apply to S corporation shareholders who own 2% or more of a company. For these Read More

If you own a small or medium-sized business, it may be eligible for some significant tax breaks that aren't available for larger entities. Here are three examples to consider as you file your tax return Read More

Consumer prices jumped 7% in 2021, according to the U.S. Department of Labor. Unfortunately, health benefit costs incurred by small employers increased at an even higher rate — 9.6% — according to the health benefits Read More

You still have time to significantly reduce this year's business federal income tax bill even with all the uncertainty about proposed tax law changes. Here are five possible moves to consider — but stay tuned Read More

If your business was forced to close due to the pandemic, you may be itching to get back in the game. Or maybe you're looking to fulfill a lifelong dream of running a business for Read More

Unfortunately, many businesses have already been forced to close their doors due to the economic fallout from COVID-19, and more will surely follow. Closing a business has important federal income tax implications that owners should Read More

Many small business owners are looking forward to the end of 2020. It's been a year of significant hardship and stress. But staying afloat remains a daunting challenge in 2021 and cost-cutting measures may be Read More

Small business owners still have time to make tax planning moves to lower their 2020 federal income tax bills — and possibly lay the groundwork to save taxes in future years. Here are 10 ideas Read More