What Records Do Small Businesses Need to Keep for Taxes?
Thursday, December 26
Tax season is just around the corner, so now is a great time to make sure that you are retaining all the documentation you need to back up the income, deductions, and credits listed on your small business’s tax return. Keeping the proper records is not optional—it is required by the Internal Rev...
What You Need to Know about Business Opportunity Laws
Wednesday, December 18
If you are interested in starting a new business, you may be attracted by “out of the box” business opportunities offered by sellers that promise immediate success.Some of these schemes have rightly earned a bad reputation, for example, false promises that you will make thousands of dollars per w...
Attention SMBs: New Overtime Rule Issued by the Department of Labor
Wednesday, December 11
At the end of September, the Department of Labor issued a new overtime pay rule that will take effect on January 1, 2020. According to the Department of Labor, the new rule will make 1.3 million American workers newly eligible for overtime pay. It is important for small businesses with employee...
Sales Tax: What You Need to Know
Wednesday, December 04
Many small business owners contend with collecting, reporting, and paying sales tax. Although there is currently no federal sales tax, 45 states, and many localities, as well as the District of Columbia, have a sales tax. Different taxing authorities have their own regulations, tax rates, exemp...
How Business Owners Can Avoid Deadlocks in Decision Making
Friday, November 29
Are you considering starting a business with a friend or family member? If operating as a partnership or LLC, a well-drafted partnership or LLC operating agreement will be crucial to memorialize your economic agreement, organizational structure, and key terms, and should include provisions desig...
Commercial Space: Should You Lease or Buy?
Wednesday, November 20
The location of your small business is an important factor in whether it succeeds or fails. Accessibility to customers, vendors, and employees, proximity to competitors, and zoning restrictions are just a few of the factors you have likely considered. Once you have determined the best location f...