A monthly roundup of our top stories:

Small Businesses Are Unprepared for Disaster

That's the finding of a recent poll from Insureon and Manta. Sixty-one percent of small business owners didn't have a formal business plan, and 31% didn't know if their businesses could survive a disaster that required them to close down for more than a month; 20% of those having reported a closure never reopened. 

Terminating your S election
Terminating Your S Election?

The flat 21% tax rate on the profits of a C corporation has left many S corporations thinking about revoking their election. Certainly for some S corporations, this action could save taxes. But if you're the owner of an S corporation considering a revocation of pass-through status, be sure you understand all the ins and outs of this decision. These include both tax and non-tax matters.

Your Sideline Business Better Be for Profit

That's the admonition to those with or considering a sideline activity if you want good tax results -- "Your sideline business better be for profit." How you choose to spend your time and effort is one thing, but the tax law makes having a profit motive vital these days. Here's why ...

3 Big Reasons to Rethink Retirement Plans

Qualified retirement plans aren't just for large corporations. There are a number of compelling reasons for small businesses to consider adopting a plan now or revising your current plan.

What You Should Know about the Streamlined Sales Tax

The Streamlined Sales Tax is an organization that started in 2000 with the goal of finding solutions for the complexity in state sales tax systems. Today there are 24-member states. In light of the U.S. Supreme Court's decision effectively allowing states to require out-of-state merchants to collect sales tax on transactions within their borders, the activities of the Streamlined Sales Tax are vital to your business.

Killing the Pink Tax  [Video] - Big Ideas for Small Business, Inc.
Killing the Pink Tax

The "pink tax" isn't a tax levied by the government. It's the markup of goods and services charged to women versus men for comparable goods and services. On July 26, 2018, Burger King launched a campaign to highlight the pink tax by charging more for a pink box of fries than a regular box with the same amount of fries. This should prompt you to think about whether you're using gender-neutral pricing.

Ideas for End of Summer Planning

While summer doesn't officially end until September 22, the end of August and the Labor Day weekend make it feel like summer is over. Now is a great time to regroup for the approaching final quarter of the year. Ask yourself ...

Back-to-School Help for Your Employees

Now is the time to be thinking about education, as millions of children return to school from their summer vacations. For employers, this is a great time to focus on how to help employees with their education and career development. In this tight job market, (37% of small businesses couldn't fill jobs last month), focusing on education may be just the thing to give you an edge in retaining your current employees and hiring new ones.

5 Women's Birthdays to Celebrate in August

Certain women from the past have had a tremendous impact on our lives. Here are 5 outstanding women who were born in the month of August and I'd like to give a salute to them.


I'm honored and grateful for the ongoing recognition of my blog! The most recent mention is being listed in the  Top 50 Small Business Blogs 2018

Understanding the New Qualified Business Income Deduction

The IRS recently released more details about the Qualified Business Income Deduction, a new tax write-off that will impact small business owners. In this guest post,  leading author and tax expert, Barbara Weltman shares first impressions on the regulation and potential impact for small businesses.
Tax Issues for Your Business in a Rising Interest Rate Environment

The Federal Reserve raised interest rates in June 2018, the second hike thus far in 2018, and indicated that there may be two more increases before the end of the year. While interest rates are still very low, the increases can impact your business. There are certain strategies to consider in a rising interest rate environment that can cut your tax bill.
10 Business Tax Breaks Gone from 2018 Returns

The Tax Cuts and Jobs Act made many favorable changes for businesses, including a lower corporate tax rate, a new 20% business income deduction for owners of pass-through entities, and favorable rules for writing off the cost of certain property investments. But it also ended -- permanently or temporarily -- the ability to claim certain write-offs that businesses have come to know and love.  Here's what you won't see on 2018 returns:
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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 and your year-round tax planning!
Get your copy from Amazon today! 

Note: The FREE, online Supplement to the book has been published on my website here. It includes revisions made by the Tax Cuts and Jobs Act and other tax changes.

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September, 2018 | Copyright © Big Ideas for Small Business, Inc.