Preparing for Disaster: Do It Now

The Atlantic hurricane season begins June 1; the Pacific hurricane season for the eastern Pacific basin began May 15. Both run through November 30. Wildfire season in the west and southwest runs from the first big wildfire to the last, typically in the summer and fall and lasting about 7 months. If you are within these areas, make preparations now if you haven’t yet done so. If you’re not in these zones, prepare anyway for a disaster…a disaster could happen to you. Read More

Staying Positive: Why It's Essential and How to Do It

5 New Federal Regulations and Your Business

Each year, about 3,000 to 4,500 new federal regulations are issued. They touch on numerous matters; not all affect small businesses, but many do. Ten Thousand Commandments 2023; An Annual Snapshot of the Federal Regulatory State found that the regulatory cost was nearly two-thirds of corporate pretax profits of $3.138 trillion and exceed the estimated corporate income tax revenue3s of $382 billion. The takeaway: businesses have a lot of regulations to watch and learn about and there’s a significant cost for doing so. Read More

Stagflation: What It Is and How to Survive

From 1973 to 1982, the U.S. economy experienced stagflation, which is a period of high inflation combined with low economic growth. During this period, consumer demand was low and unemployment ran high. A number of economists say they’re seeing similarities in today’s economy and that we could be in or about to enter a period of stagflation.  Read More

Tax Proposals Impacting Small Business: Be Very Afraid

A deficit occurs when the federal government’s spending exceeds its revenues. The federal government has spent $1.06 trillion more than it has collected in fiscal year (FY) 2024 (as of May 1, 2024), resulting in a national deficit. When governments—federal, state, and local—experience deficits, their typical go-to strategy is raising revenue. It’s rare they address the deficit by cutting expenses. Some recent proposals to increase taxes could hit small business owners. Here’s what to watch out for: Read More

What to Know About Trust Fund Taxes

If you’ve incorporated your business or formed a limited liability company, you may have the belief that you can’t be personally liable for your business’ debts. Think again. If you have employees and you fail to deposit the taxes you’ve withheld from their paychecks, you may be 100% personally liable for these taxes. Here’s what you need to know. Read More

Find Out What IRS Data Reveals About Small Businesses

For many people, tax filing is becoming a distant memory for this year; April 15 has passed. But taxes are year-round for business owners. They deal with payroll taxes on a regular basis and many pay quarterly estimated taxes. A few even pay excise taxes. But what about the big picture when it comes to tax filings? Each year, the IRS creates a data book with tables showing various information—how many returns were filed, how many were filed electronically, how many were examined, and more. Read More

Growing Your Business by Spreading Out

Expansion is the aim of many small businesses. They don’t want to remain small, or at least as small as they started out, and want to increase profitability. Expansion can be done in a variety of ways: growing a company’s offerings by adding products and/or services, hiring additional staff, moving to larger quarters, adding additional locations, and going global. Each means of expansion offers its own benefits, but also has drawbacks. Read More

Mom CEO and Work-Life Balance

Mother’s Day is a day to recognize the importance of moms; it became an official holiday in 1914. It’s also a good time to note that a number of highly successful businesses were started by mothers. I’m guessing that they figured out how to run a company while maintain a work-life balance. Here’s a roundup of some of these moms who are also wonderful entrepreneurs as well as my tips on work-life balance. Read More

Cybersecurity Protections and Your Remote Workers



The prevalence of remote work, which grew substantially during the pandemic, is obviously not going away. In 2024, 65% of companies offer remote work arrangements. This includes hybrid work—some hours at the company and some remotely.

If you own a small business, this comprehensive guide explains in easy-to-understand terms the essentials of business taxes to prepare you to work better with your CPA or other tax adviser or

handle tax responsibilities

on your own.

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This edition of this popular book

has been fully updated to reflect the latest rulings and laws (including changes from the Inflation Reduction Act and SECURE Act 2.0), allowing you to easily

refer to the appropriate deductions and credits for your particular needs. 

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