Protecting Your Cash Flow

Cash flow refers to the balance available after allowing for all receipts and payments from your business. This includes, but is not limited to, rent, payroll, taxes, supplier invoices, loan payments, and asset purchases – the lot. Most of us know that managing and protecting cash flow as a small business owner is pivotal to long-term success. The inability to …

Beef Up Your Bottom Line

In the busy day-to-day operations of running a small business, actively working to boost profits can take a back seat to other management functions. Crunching numbers to make payroll, clear accounts and stay on top of the line is hard enough! But ignoring the importance of the bottom line is perilous to a small business. Commit to investing in beefing …

Bank Shopping for a Small Business

Where and how a small business owner chooses to manage their money can play an important part in the overall success of the company. So often, entrepreneurs disregard the importance of shopping around for the right bank for the business and end up paying for it in the long run. Understanding what services your business requires is part of Small …

Tax Tip Tuesday! New Law Extends Payroll Tax Cut

The temporary reduction in the FICA tax rate that began in January 2011 as a replacement for the “Making Work Pay Credit” has been extended through December 2012. The 2% rate cut applies to wages, salaries and self-employment income of up to $110,100.

Tax Tip Tuesday! Is Your Business Eligible For The Health Insurance Premium Credit?

Remember the postcard you got from the IRS last year introducing the health insurance premium credit for small businesses? To paraphrase the old song, there’s no letter in the mail for you this year.

Tax Tip! Payroll update for 2012

Out with the old and in with the new. The expression applies not only to the upcoming new year, but also to the new year’s payroll tax reporting and compliance.

Tax Tip Tuesday! Some Income Isn’t Subject To Payroll Taxes

You’ve probably heard that the IRS has undertaken a new initiative to make sure workers are properly classified as either independent contractors or employees. At issue is the collection of payroll taxes, including FICA taxes (social security and Medicare), which are generally required to be withheld from wages by law.

Tax Tip Tuesday! Pay Employees For Riding Bikes To Work

Bicycles may well be the vehicles of novelists and poets, as stated by journalist Christopher Morley. But these days bicycles are also the vehicles of commuters — and if they’re the vehicles of commuters who work in your business, you can offer a nontaxable fringe benefit of up to $20 per month.