Recession-Proof Your Business: What Did You Learn from 2023?

Talks of a coming recession in 2024 continue. Will a recession occur? A former president of the Kansas City Federal Reserve Banks puts the odds at 65%. If so, will it be mild or severe? Economists differ on this prediction. ... Given this uncertainty, it’s important to be prepared. One way to do this is to understand where your company stands now. With the new year arriving, pause to reflect on what occurred in 2023…and what you’ve learned from it…so you can plan for the future. Read More

How to Address Information Overload

Labeled a Small Business? That's Great!

A question that comes up frequently is “what’s a small business?” The SBA defines a small business as one with up to 500 employees (even more for some industries), which is clearly not what most people envision as being “small.” Nonetheless, being a small business has its advantages. But obtaining these benefits depends on whether you qualify as “small” for a particular one. Read More

What IRS Statistics Tell Us About Partnerships and LLCs

A partnership is not a taxpaying entity, but files an annual tax return, Form 1065, to report income, deductions, and other items. The same is true for a limited liability company (LLC) with two or more members; it also files a partnership return. Income, deductions, and other items pass through to partners and LLC members, who may be individuals, other partnerships, corporations, or other entities. Partners and LLC members report their allocable share of these items on their own tax returns. Read More

Now's the Time to Hold Your Annual Board Meeting: When, Where and What to Do

Whatever your industry, there’s a housekeeping matter that shouldn’t be overlooked if your business is incorporated: holding your annual board meeting. This is a requirement in most states. ... What are some of the reasons you need to hold your meeting, what should be discussed, and how should you conduct the meeting? Read More

Are Dress Codes and Uniforms Dead?

In the past, it was routine for companies to set certain standards for attire. As late as the 1980s, the IBM “uniform” for salesmen (there were no women for a long time) was pin-striped suits, white button-down shirts, rep ties, and wing-tipped shoes. But things changed. Silicon Valley made casual the norm, with Steve Job’s black turtleneck as the height of fashion. Today, many businesses struggle with dress codes; others require uniforms. From a legal perspective, what can and can’t employers demand. Read More

Gifting: What You Need to Know

The holiday season is synonymous with giving gifts. Your business may be giving gifts at this time to various people…employees, customers, vendors, and prospects to name a few. Giving to charity is one thing (and not discussed in this blog); giving to individuals is another. What should you give? How does this affect your taxes? Should you create a gifting policy for your staff? Read More

Holiday Etiquette for Business' Greetings

Virginia Tech says “Business etiquette refers to the requirements and expectations of social and business behavior, practices and conduct that are prescribed by social convention, and a code of ethical behavior among professionals. It basically boils down to demonstrating good manners.” 

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Urban Mobility and Its Impact on Local Businesses

by Jack Shaw

Operating a successful small business requires more than marketing or product manufacturing experience. You also have to understand your consumer base’s current and future needs. Urban mobility is a crucial indicator for both of those driving factors. Read More

The 2024 Edition of BOTH Tax Books Are Available!

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.

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. 

What to Know About Seniors on Your Payroll

According to the Bureau of Labor Statistics, the total labor force is projected to increase by 6.6% from 2016 to 2026, while the number of workers age 65 and older is predicted to rise by 57.6%. By 2026, workers age 65 and older are expected to account for 8.6% of the total labor force, up from 5.8% in 2016. And the number of people 75 and older in the labor force is expected to grow 96.5% by 2030. What does this mean for your business?

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