What Small Business Owners Need to Know about COVID-19 Relief Bills
Unprecedented Times; Unprecedented Aid Beginning in March 2020, Congress moved swiftly to offer relief from the financial hardships of the COVID-19 pandemic. The Coronavirus Aid, Relief, and Economic Security Act (also known as the CARES Act) was signed into law on March 27, 2020. It directed two trillion dollars in funding towards seven key areas: […]
Protecting your home-based business from legal claims
Many more people are creating home-based businesses or adding another gig to their repertoire these days. But many of those entrepreneurs do not realize that the same legal requirements apply to them as to any other business. A business attorney can help you make sure your ducks are in a row. Currently, the SBA has […]
Small businesses sued over ADA website compliance
Around 60 small businesses in Colorado have been sued by an out-of-state law firm over alleged violations of the Americans with Disabilities Act. The businesses claim that the New Jersey-based law firm is targeting small-to-medium-sized businesses. The lawsuits claim that the businesses have websites that are not compliant with the ADA. Blanchard Family Winery, which […]
Forgiveness application available for smaller PPP loans
A simpler forgiveness application for Paycheck Protection Program loans of $50,000 or less has been issued by the Small Business Administration (SBA). The prior version of the application had more complex documentation requirements and required several calculations that have now been removed. Instead of the calculations, the new form asks borrowers to confirm that the loan was […]
How does working from home affect homeowners’ insurance?
Businesses across the country have moved many of their professionals into work-from-home arrangements. That has led to some confusion as to who’s liable and whose insurance will pay out in the case of injury or property damage. Generally speaking, if your business has full-time employees who now work from home, your workplace coverage should extend […]
Required Minimum Distribution (RMD)? What are the new rules for RMDs? How do you calculate RMDs?
Planning Your Estate Around IRAs: What You Need to Know About Required Minimum Distributions With the decline of employer-funded pensions, and the steady decrease of Social Security checks’ purchasing power compared against inflation, an individual retirement account (IRA) has proven to be an important part of millions of Americans’ retirement savings. However, an IRA is […]
Ideas to Identify and Manage Problem Accounts
As a small business, once you decide to extend credit to a customer, you now have a financial stake in continuing that relationship even if you suspect there might be trouble brewing. While you don’t want to crack down on a good customer too hard, too soon, you also don’t want to be taken advantage […]
The Hidden Tax Consequences of Cryptocurrency
You may recognize the name Bitcoin and maybe even Ethereum, but what about Litecoin, Dogecoin or Ripple? These are just some of the more than 4,500 cryptocurrencies available today. There are hidden tax complications, however, associated with every cryptocurrency transaction. Here’s what you need to know. Every transaction has a tax consequence. The IRS treats […]
How to Roll with a Continuous 12-Month Forecast
Tax and financial planning is a year-round proposition. In fact, you can benefit personally from a continuous, 12-month rolling forecast, much like a business does. What is a rolling forecast? Rolling forecasts let you continuously plan with a constant number of periods 12 months into the future. For example, on January 1, you would plan […]
Hire Your Kids for Tax Savings
Summer’s almost here, and soon most children will be on their long-awaited summer vacation. If you own or manage a business, have you thought of hiring your children, nieces, or nephews for a summer job? If you do it right, it can be a win-win situation for everyone. The kids will earn some money and […]
