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At some point or another, an employee may need to use company funds to make a business-related purchase. When this happens, expense management comes into play. Learn all about small business expense management and how to streamline your process to ensure you reimburse employees in a timely manner.
Read More Business Expense Management: 4 Tips to Improve
The idea of money laundering can be scary to employers. Illegal transfers of funds can harm businesses, after all. So, be on guard and aware of different protections meant to prevent money laundering. One of those protections is anti-money laundering.
Read More Anti-money Laundering: How it Can Protect You and Your Business
At some point or another, you may need to know your gross receipts for certain situations, like taking out a loan. But, what are gross receipts exactly? And, how do you calculate them? Let’s get into the nitty gritty of gross receipts.
Read More What Are Gross Receipts, and What Do You Need to Know Them For?
Business owners have a lot of decisions to make, especially in the beginning. One of the most important decisions is how to handle bookkeeping for your business. There are three methods of accounting to choose from: Cash-basis, modified cash-basis, and accrual accounting.
Read More Accrual vs. Cash-basis Accounting: A Comparison
Do you receive most of your business income in cash? If so, you’re probably a cash-intensive business, which can put you under greater IRS scrutiny. Why? Because cash transactions do not leave a paper trail. So if you run a cash-intensive business, you need to keep detailed records.
Read More Do You Have a Cash-intensive Business? Find Out Here [+ What to Know]
Businesses that contract out work in New York have a new law to put on their radar: The New York independent contractor law. But, what is the new law? What businesses are impacted by the new law, and how? Keep reading to get the scoop on the New York independent contractor law.
Read More New York Independent Contractor Law Gets a Big Update
Over 75% of consumers use payment service apps. And if you’re part of the growing percentage of small businesses (23% in 2019, to be exact) that accept peer-to-peer (P2P) payments, you should know about the new IRS cash app reporting rules.
Read More IRS Cash App Reporting Rules: What to Know
The end of the year is a busy, if not the busiest, time of year for small business owners. You’re gearing up for the start of a new year and trying to wrap things up before the year comes to a close. One thing that should be on your mind during this time of year—aside […]
Read More Optimize Your Small Business With Effective Year-end Tax Planning Strategies
In 2020, COVID-19 took the world by storm. To provide relief during the pandemic, the IRS allowed eligible employees and self-employed individuals to defer Social Security tax temporarily. And now, it’s time for individuals (or their employers) to collect and pay back the deferred tax. But, how does the self-employed Social Security tax deferral work? […]
Read More How Does the Self-employed Social Security Tax Deferral Work?
If a disaster impacts your business, you might need to make repairs or temporarily shut down. For some, the expenses associated with disaster recovery cause negative cash flow or even small business bankruptcy. SBA disaster assistance can provide you with the funding you need to protect and continue running your business.
Read More SBA Disaster Assistance: Low-interest Loans to Help Get You Back to Business
