Meals and Entertainment

Businesses may no longer deduct expenses for entertainment, amusement, or recreation. They can still deduct 50% of the cost of business meals if the business owner or employee is present and the food or beverages aren't extravagant.

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For Small Business Week: Backup Withholding Rate Now 24 Percent, Bonuses 22 Percent; Workers Urged to do a Paycheck Checkup

The following article was published by the IRS. Recent tax reform legislation lowered the backup withholding tax rate to 24 percent and the withholding rate that usually applies to bonuses and other supplemental wages to 22 percent. Employees should check their withholding using the IRS Withholding Calculator. This year, National Small Business Week is May …

Continue reading For Small Business Week: Backup Withholding Rate Now 24 Percent, Bonuses 22 Percent; Workers Urged to do a Paycheck Checkup

Multiple Computer Monitors: Advantages and Disadvantages

The following article was published by the SBA. Are you looking to increase productivity in your small business? Some entrepreneurs and professionals find it helpful to have access to multiple computer monitors. This type of setup can potentially improve collaboration, productivity and even location flexibility. But there are also some potential drawbacks, from money and …

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IRS Dispels Five Myths about Tax Refunds

The following article was published by the IRS. The Internal Revenue Service understands that taxpayers are anxious to get details about their tax refunds. This has led to a number of common myths about refunds that often circulate on social media. While there’s no secret way for taxpayers to find out when their refund will …

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Top 10 Business Credit Terms Small Business Owners Should Know

The following article was published by the SBA. As a small business owner, it is important to have an understanding of business credit terms. Similar to personal credit, business credit determines whether your company can be trusted by the way it manages money. Like personal credit, business credit is a reflection of how well your …

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