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Avoiding surprises as a business owner is crucial to ensure you have a successful business. The same goes for managing your personal finances. By subscribing to our blog and newsletter you get the latest updates on the world of finance and taxes. Additionally, by visiting our main topic categories below you can educate yourself on the various topics regarding tax education, personal finance, and business ownership. 

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Important Tax Changes for Individuals and Businesses

Posted by Missy Dennis on Jan 20, 2021 8:04:00 AM

Every year, it's a sure bet that there will be changes to current tax law and this year is no different. From standard deductions to health savings accounts and tax rate schedules, here's a checklist of tax changes to help you plan the year ahead.

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Topics: Taxable Income, Business Ownership, Personal Finance, Taxes, Tax Deduction, Small Business, Tax Return, Tax Preparation

COVID-related Tax Relief Act of 2020

Posted by Missy Dennis on Jan 12, 2021 8:01:00 AM

The Consolidated Appropriations Act, 2021, H.R. 133 included funding for the government, extensions for expiring tax extenders, COVID tax relief under the COVID-related Tax Relief Act of 2020, and many more items. Passed by both the House and Senate, it was signed into law by President Trump on December 27, 2020.

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Topics: Business Ownership, Personal Finance, Taxes, Small Business

Small Business: Deductions for Charitable Giving

Posted by Scott Farnes on Dec 22, 2020 8:04:00 AM

Tax breaks for charitable giving aren't limited to individuals, your small business can benefit as well. If you own a small to medium-size business and are committed to giving back to the community through charitable giving, here's what you should know.

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Topics: Business Ownership, Taxes, Tax Deduction, Small Business

Business Tax Provisions: The Year in Review

Posted by Missy Dennis on Dec 15, 2020 8:10:00 AM

Here's what business owners need to know about tax changes for 2020.

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Topics: Business Ownership, Taxes, Tax Credit, Small Business, Tax Return, Tax Preparation, Business Expenses

Year-End Tax Planning Strategies for Business Owners

Posted by Missy Dennis on Nov 18, 2020 8:09:00 AM

Several end-of-year tax planning strategies are available to business owners that can be used to reduce their tax liability. Let's take a look:

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Topics: Business Ownership, Taxes, Small Business, Tax Planning

Six Tips for Starting Your Own Business

Posted by Missy Dennis on Oct 8, 2020 8:21:00 AM

Starting your own business can be an exciting prospect, but there is more to it than simply writing a business plan. Also, if you expect to have employees, there are a variety of federal and state forms and applications that you need to complete to get your business up and running. That's where a tax professional can help. With this in mind, let's take a look at what you need to know before you start a new business.

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Topics: Business Ownership, Small Business, Financial Success

Small Business Update: Payroll Tax Deferral

Posted by Taylor Bennett on Sep 8, 2020 8:07:00 AM

On August 8, 2020, the President issued a Memorandum allowing employers to defer withholding and payment of an employee's portion of the Social Security tax (i.e., the 6.2% FICA portion of the federal payroll tax on employees). Medicare taxes, however, are not covered. The payroll tax deferral is effective starting September 1, 2020, and also applies to the employee portion of the Railroad Retirement Act Tier 1 tax.

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Topics: Business Ownership, Taxes, Small Business

Small Business Financing: Securing a Loan

Posted by Scott Farnes on Aug 4, 2020 8:11:00 AM

At some point, most small business owners will visit a bank or other lending institution to borrow money. Understanding what your bank wants, and how to properly approach them, can mean the difference between getting a loan for expansion or scrambling to find cash from other sources.

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Topics: Business Ownership, Small Business, Business Expenses, Loans

Preparing an Effective Business Plan

Posted by Taylor Bennett on Jun 25, 2020 8:04:00 AM

A business plan is a valuable tool whether you're seeking additional financing for an existing business, starting a new company, or analyzing a new market. Think of it as your blueprint for success. Not only will it clarify your business vision and goals, but it will also force you to gain a thorough understanding of how resources (financial and human) will be used to carry out that vision and goals.

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Topics: Business Ownership, Small Business, Financial Success

Loan Forgiveness Under the Paycheck Protection Plan

Posted by Taylor Bennett on Jun 4, 2020 8:43:00 AM

As part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law March 27, many small business owners were able to apply for - and receive - a loan of up to $10 million under the Paycheck Protection Program (PPP). If the loan proceeds are used as specified, business owners may apply to have the loan forgiven.

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Topics: Business Ownership, Small Business, Business Expenses, Loans