October 1, 2021 -- Volume 20, No. 10
Getting Ready Now for Health Coverage in 2022

While 2022 is still months away, it’s not too early to be thinking about health coverage for next year. While not every small business may have offered this employee benefit in the past (only 30.8% of firms with fewer than 50 employees did so in 2019) (the most recent year for statistics), the tight labor market virtually makes it a must now. However, the options for providing this benefit are numerous and can be tailored to your company’s needs. But you need to act now. Read More
Why Are You In Business?
Today’s challenges to small business owners are immense. COVID-19 aside (which, of course, is hard to put aside), there are challenges from the marketplace as well as from government. There’s competition, pressure to increase wages, problems in finding and retaining qualified employees, an endless array of employment-related government rules, tax complexity...and more and more and more. So why are you in business? Read More
Recovery Strategies: How to Resolve Contentious COVID-19-Related Matters

Joni Mitchell only looked at clouds, love, and life in her 1966 song “Both Sides Now.” In today’s post-pandemic culture, there are so many issues to look at from different views. The following are some of the hotly debated matters which small businesses need to resolve in the pandemic recovery period. There are both sides to each of these matters, so ultimately, it’s up to the owner to decide, within the limits allowed by law. Read More
Clocking In: New Realities

The time clock, which has enabled employers to verify the time employees start and leave the job, was invented in 1888 by Willard Bundy, a jeweler who used the mechanical timepiece to track employee hours in order to figure their pay. ...Today, time clocks are still in use in many enterprises and are readily available for purchase at Staples and other office supply companies. But times have changed. There’s new technology and new work arrangements. Here are some ideas about monitoring employee work hours beyond the old time clock. Read More
Addressing the Risks of a Remote Workforce

When the pandemic began, remote work arrangements were the only option for some companies to stay in business. Now, remote work arrangements—full-time or hybrid—have become the norm, with many companies deferring return-to-office policy until 2022. Telework, as it used to be called, offers benefits for both employers and employees. The pros and cons of remote work arrangements were explored in a blog that predates the pandemic; they remain the same. But there are risks that should not be overlooked. Read More
Handling Disaster Losses from a Tax and Financial Perspective

September 2021 saw unprecedented destruction due to wildfires in California as well as Hurricane Ida—which cut a path of tornados and flooding up through more than a dozen states. But disasters can happen at any time in any location. If a business has been impacted by a disaster, hopefully there is insurance to cover the loss. But in reality, insurance may not cover everything…especially if you have a high deductible on the policy. What can you do from a tax and financial perspective to “weather the storm?” Read More
Returning to the Office: What to Consider

As employees return to the office after more than a year of working from home, it’s inevitable that office rules will change. Things won’t return entirely to pre-pandemic routines. Here are some rule changes to consider: Read More
Getting a Rebate from Medical Loss Ratios

Usually, health insurance premiums are a one-way street; you pay them to the insurance company. But the insurance company may pay you—because of the rule on medical loss ratios (MLRs). It’s estimated that rebates paid to group health plan sponsors in 2021 disbursed in the Fall for the 2020 policy year are about $618 million. Additional amounts totaling $1.5 billion are payable to those enrolled in the individual market. Depending upon what you paid, the rebate may represent a nice infusion of cash for your business. What is the medical loss ratio rule and how to do you treat any rebate you receive from a tax perspective? Read More
Prepare for Disasters and Emergencies

September was National Preparedness Month, an observance created by the Department of Homeland Security. This year’s theme: "Prepare to Protect. Preparing for disasters is protecting everyone you love.” With the hurricane season underway as demonstrated by Hurricane Ida and disasters in Tennessee and North Carolina in recent memory, now’s the time to take action. While the information on Ready.gov is geared to preparedness by individuals and families, it’s a good reminder for businesses to make plans too. Read More
Featured Guest Blog Posts
by Shannon Flynn

There's no denying that, year after year, cybersecurity risks tend to increase in number and complexity. New York joined the growing list of states enacting legislation to try and regulate the use of private, personal data.
by Tim Kearney

Accountancy is a task definitely best left to the professionals. Even if you think that you’re good with numbers, there are so many opportunities to make a mistake.
Are you interested in being featured?
Outside-the-Box Benefits for Employees
Today’s tight job market makes it imperative for small businesses to offer an array of benefits to employees. Many benefits are commonly offered…health care, retirement plans, and dependent care assistance. But employers may need to go beyond the basics and consider other benefits. Doing so won’t necessarily be expensive. Here are some additional benefits to consider:
Tax Credits Ending Soon -- What to Do
On September 30, 2021, a number of business tax credits ended. Others are scheduled to expire at the end of the year. Of course, any of these credits may be extended by Congress. But in case they aren’t, here’s a list of business-related tax credits (and a few income tax rules) set to run out soon. In some instances, you are stuck with the end of the break and there’s not much to be done. However, in other cases, you may be able to act now and capitalize on an opportunity that is soon to end.
(via Thryv)
I'm pleased to share this interview with you. We're discussing critical and current tax updates plus other issues facing small businesses and entrepreneurs. 
I hope you've checked out my latest eBook!
500+ Big Ideas for Your Small Business
Ideas You'll Use Everyday!
by Barbara Weltman
Whether you’re a seasoned entrepreneur or just starting out, you’ll find actionable ideas to help you with your finances, your operations, your staff, your marketing, your taxes, your technology, your environment, and your personal growth.
I'm delighted and honored to be included in this list (updated January 2021).
Building a successful business is tough, but you’re not alone. Follow these 10 women entrepreneurs for smart tips, tools, and resources.
Also, honored to be recently featured in this LinkedIn article:
"SMB Insights on Tap: 8 Experts to Follow"
You can learn more and discover some great resources in this article.
More Resources You Won't Want to Miss!
SBT 2021
For your important year-round tax planning, you'll find what you need to know in these 2 tax books available on Amazon!
1001 Deductions 2021

You'll hear about important tax updates and other financial issues affecting small business owners, self-employed entrepreneurs, and more. 
HBM Home-Based Business Start-Up Guide
Delivery Driver Tax and Business Guide

(Paperback Edition)
Top industry leaders share their secrets for turning pain into profit!
by Barbara Weltman
Newly updated App
New eBook 2020
"Big Ideas for Recovering and Reimagining Your Small Business"
Providing ideas and resources you can use now to get your business up and running again and reimagine your business for increased success.