Let’s face it. Small business is challenging. You have goals and a great vision for success. But there is so much to do! You have people challenges, competitive challenges, service challenges, and financial challenges. Don’t despair and don’t try to...
There are differing opinions among business owners about in-house bookkeeping. One popular belief is that hiring an employee to manage the company’s books is the best option for balancing other pressing business needs. While this could be true if you feel your...
The Tax Cuts and Jobs Act of 2017 (“2017 Tax Act”) brought changes and simplified the process of filing tax returns for millions of Americans. Although most changes had a positive impact, there was a lot of confusion regarding business expenses. In...
In the Coronavirus Aid, Relief, and Economic Security (CARES) Act, Congress clearly intended for recipients of forgiven PPP loans to be able to deduct otherwise-deductible expenses associated with those loans for tax purposes. But the IRS has contradicted...
In October 2020, the Small Business Administration (SBA), in consultation with the Treasury Department, made the process easier for forgiving the Paycheck Protection Program (PPP) loans. On the SBA website, businesses will find a simpler loan forgiveness...
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