COMMON BOOKKEEPING MISTAKES

COMMON BOOKKEEPING MISTAKES

Data from the United States Small Business Administration show that about 50% of every new small business in the United States will fail within the first 5 years. So why do small businesses fail? Bad financial management. Good financial management begins with knowing...
7 TIPS TO PREVENT SMALL BUSINESS FRAUD

7 TIPS TO PREVENT SMALL BUSINESS FRAUD

Indeed, our world is raging with RFID hackers and identity theft that target people. Despite the size, why wouldn’t you be worried about the likelihoods of business fraud? From the small grocery store to an independent hair stylist, there are many avenues through...
IRS Releases New Draft of Form W-4

IRS Releases New Draft of Form W-4

The IRS has been trying to release a W-4 that more closely reflects the changes in the Tax Cuts and Jobs Act (TCJA) that was passed in 2017.  These changes made by the TCJA affected itemized deductions that were normally claimed on a Schedule A and eliminated...
Employee or Contractor

Employee or Contractor

Businesses must examine the relationship between it and the worker to determine if the worker is an employee or a contractor.  Distinguishing between these two is important to determine if an employer must withhold income taxes and pay Social Security, Medicare...
Changes to Payroll Withholding

Changes to Payroll Withholding

The IRS is tired of processing tax returns. While this may not be entirely true, the proposed changes to payroll withholding and their impact to the small business owner, make it feel that way. The IRS recently announced that they are changing the W-4 form. This is...

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