A $1.9 trillion measure — the American Rescue Plan Act (ARPA) — was signed into law on March 11, 2021. The key feature of the new law, also referred to as Stimulus 3.0, is a third Economic Impact Payment (EIP3) to eligible individuals. But there are other financial and tax changes impacting individuals as well as small businesses. Read More

While revenue is picking up for many businesses in 2021, profits won’t grow unless you have business expenses under control. This means knowing where your money is going and dealing wisely with accounts payable—your bills for vendors, contractors, landlords, and others—in a timely and efficient manner. Read More

The topic of minimum wage is in the forefront to ensure that workers receive adequate compensation for the services they perform. For small business owners, the question of adequate compensation goes beyond any minimum amount. Obviously, business performance—profits and cash flow—dictates to a large extent what is affordable for owner compensation. But there are many factors that go into the decision on personal compensation. Read More

The famous quote from Jerry McGuire …"show me the money"… is something that many small business owners are taking to heart these days. As a result of the pandemic, they need funding to stay in business and to rebuild for a better future. Fortunately, there are many government programs and other resources to help with needed financing. The CARES Act started the ball rolling with new funding opportunities. The American Rescue Plan Act of 2021 (ARPA) provided additional funding for various financing programs. Read More

“America” includes all of the Western Hemisphere, and North America is the United States, Canada, and Mexico. So “American made” is a nebulous term. There are some common phrases being used to encourage people and businesses in the United States to buy home-grown or products manufactured domestically. Read More

Many businesses focus on the impact that federal taxes have on their companies and their owners. But don’t overlook the impact of state taxes. In many cases, state tax rules differ considerably from federal rules. States may not use “conformity” in some or many cases, meaning they don’t follow federal rules. Here’s a brief overview of some of the differences to watch for. Read More

During 2020, many businesses were in survival mode, focusing attention on how to get by during the lockdowns and other restrictions they faced. This left little time for planning and reviewing policy decisions. As things calm down in 2021, you may now be able to strategize and put new plans into motion. In doing so, be sure to take new business terminology into account. Read More

March was Women’s History Month and a good time to reflect on how women are doing in business, especially in light of the pandemic. This can be gleaned from reports as well as anecdotal stories from women entrepreneurs. Read More