What You Can Learn About Running a Business From Henry Ford

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If you had to make a list of people who changed the world essentially just by existing, Henry Ford's name would likely be on it. Most people know him from history as the founder of the (appropriately named) Ford Motor Company. Here, he developed…

Steps Your Business Can Take to Survive a Recession

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According to one recent study, there is a 96% chance that the United States will experience some form of economic recession within the next 12 months. If you needed a single statistic to underline the importance of planning ahead when it comes…

Managing Gains and Losses in a Turbulent Year   

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Article Highlights: Rough Year for the Stock Market Year End Approaching Annual Capital Losses Are Limited Be Aware of Wash Sale Rules Off-Set Short-Term Gains with Long-Term Capital Losses Planning for Zero Tax on Long-Term…

Four Popular Platforms for Finding Gig Work

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There was once a time when the only people who used the word “gig” were musicians chatting about a booking. Today, virtually every newspaper and magazine features the booming gig economy — or how to make the most of it — on a regular…

Best Practices for Avoiding Cash Flow Problems With Your Business: A Guide

If you had to make a list of some of the biggest issues that plague small business owners on a regular basis, cashflow problems would undoubtedly be right at the top. Cash flow is about more than just the money coming into and going out of…

Ways to Maximize Business Deductions

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Article Highlights  New Business Legal and professional fees Spousal Joint Ventures Self-employed Health Insurance Home Office Deducting the Cost of Business Equipment Advertising Expenses Website Costs Financing …

Does Your Business Need to File Forms 1099-NEC or 1099-MISC?

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Article Highlights: 1099-NEC Filing Requirements Independent Contractor Filing Threshold Form W-9 Form 1099-MISC If you use independent contractors to perform services for your business, for each one that you pay $600 or more…

Businesses Have 60 Days to Notify the IRS of Changes in Contact Information and Responsible Party

Article Highlights  Employer Identification Numbers (EINs) Contact Information Update Responsibilities ID Theft and Fraud Issues  Responsible Party Filing Tips Updating Individual Contact Information Blog: The Internal…

Customers Paying Late? How to Create Statements

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There are many ways to encourage delinquent customers to pay. QuickBooks Online’s statements may be effective for you. After the year-plus you’ve just experienced, the last thing your small business needs is customers who are behind on…

June 2021 Individual Due Dates

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June 1 - Final Due Date for IRA Trustees to Issue Form 5498 Final due date for IRA trustees to issue Form 5498, providing IRA owners with the fair market value (FMV) of their IRA accounts as of December 31, 2020. The FMV of an IRA on the last…