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SMB Taxes 2018
J.K. Lasser's Small Business Taxes 2018: Your Complete Guide to a Better Bottom Line

This is the small business owner's ultimate guide to a money-saving, stress-free tax season.  Get your copy from Amazon today! 

Note: The FREE, online Supplement to the book will be available soon, and will include information about the Tax Cuts and Jobs Act and other tax changes.

Eliminating Pain Points of Paper Filing When Switching to e-Filing

Let's face it: the days of keeping books and records, as well as filing tax returns and other documents, on paper are long gone. The image of Dicken's Bob Cratchit from A Christmas Carol sitting at a desk mired in his ledgers is something now relegated solely to fiction.

For those who want to make the switch to electronic preparation and filing forms this year, the change can be painless. Here's what you need to know.

New Business Books for You

As I've quoted before: "An investment in knowledge pays the best interest" (Benjamin Franklin). With this in mind, I want to tell you about some new titles from my business friends. I've known all of them for years and so my review of their recent books (some out late in 2017 or to be released in January or February of 2018) may be a little biased.

Working in Studio
Note to Self: Don't Look Back!

Note to Self: Life doesn't have do-overs, so we all have to make choices and live with them ... You'll make career choices that you'll have to live with, but don't second guess yourself. You'll graduate from law school, poised to commence what may be viewed a "big career" in a large law firm in New York City. You'll have the credentials-law review, top 5% of my class. You'll have a clear idea of your area of specialty--taxes and commercial law. But you'll also have something else--children. So you'll have to make a choice. Instead of seeking the conventional career, you'll hang out your shingle and start your own practice from an office in your home.

How Much Tax Will You Pay on Your Pass-through Income?

The Tax Cuts and Jobs Act of 2017, which was signed into law on December 22, 2017, radically changes the rules that now apply for taxing the profits of owners of pass-through entities from 2018 through 2025. If you are a sole proprietor (including an independent contractor) or own an interest in a partnership, limited liability company (LLC), or S corporation, these new rules apply to you. 

New Rules for Writing Off Equipment, Vehicles, and More 

The Tax Cuts and Jobs Act of 2017 made a variety of favorable changes in the rules for deducting the cost of buying certain items and making certain expenditures for business.  These changes may impact your decisions for capital acquisitions and improvements this year.

5 Reasons to Amend Your Partnership Agreement

A partnership agreement is a legal document that spells out the rights and obligations of the owners, such as their percentages of ownership, their shares of distributions, and what happens when a partner retires, dies, or just wants out.  If you are in a partnership, you may want to make some changes in your partnership agreement at this time. Similarly, if you're a limited liability company (LLC) that files a federal partnership return, you, too, may want to make some changes in your operating agreement. Why? Changes in circumstances and new tax rules may warrant some revisions.

Music in the Workplace

The holiday season was marked by the ubiquitous Christmas music ... in stores, restaurants, fitness centers, and in many offices. The question for employers is what effect music in general has on worker productivity throughout the year. There's been considerable debate on this, with pros and cons weighing in.

Data Prep for Your W-2s and 1099s

The deadline for furnishing employees and independent contractors with their annual information returns and submitting copies to the Social Security Administration (for W-2s) and IRS (for 1099-MISCs) has past, but there are still plenty of forms to file throughout the year. Using an e-file provider such as eFile4biz takes only minutes, so why not get started now!

New! New Year's Resolutions

I'm sure that most business owners make resolutions each year with the best of intentions. At the start of last year I listed 10 New Year's Resolutions for this Tax Season. This year, it's a great time to take a fresh view of your business and create new resolutions to help you grow. To help you do this, I've gathered lists of resolutions from various sources. You can pick and choose the resolutions you want to adopt.


I'm honored and grateful for the ongoing recognition of my blog; recently included in the  Top 20 Global Small Business Blogs 2018

10 Things Business Owners Should Know about IRAs

Individual Retirement Accounts (IRAs) were created by the Employee Retirement Security Act of 1974 (ERISA). Since that time, IRAs have undergone considerable change, although the Tax Cuts and Jobs Act of 2017 didn't introduce any new rules. Still, you may not fully appreciate the importance that IRAs can have to you and your staff or some of the pitfalls that could apply. Here are 10 things business owners should know about IRAs:
What's New for Retirement Plans in 2018

Retirement plans are an important employee benefit offered by many companies. The rules are always changing, and 2017 was no exception. If your business has a qualified retirement plan or you're thinking of offering one, here are some of the new dollar amounts to account for in budgeting for plan contributions and for payroll adjustments in 2018, as well as other new changes needing your attention.
Hear Barbara's Recent Radio Interview on The Small Business Advocate Show:  

Barbara joins  Jim Blasingame on The Small Business Advocate Show  to report on some of the aspects of the new tax law and how the 20% deductions for pass-through business income will be applied. She also reports on the first major tax-filing dates that are approaching, including dates for for business entities and individuals, as well as for retirement plans and estimated taxes.
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150+ Big Ideas for Your Small Business

Don't miss out on this version of 
"150+ Big Ideas for Your Small Business, 2017 Edition" 
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February, 2018 | Copyright © Big Ideas for Small Business, Inc.