The Department of Labor’s final rule for employee or independent contractor classification under the Fair Labor Standards Act rescinds the 2021 Independent Contractor Rule, replacing it with guidance on analysis […]
Category: Small Business
How to Manage Cash Flow
Your business will be healthier if you manage your cash flow toward the profit line. How? Let’s look at some tips: When cash flow stays positive, your business can survive […]
Home Office Deductions: A Refresher on the Rules
The Internal Revenue Code (IRC) allows taxpayers to claim a business deduction for expenses arising from the qualified use of all or part of a residence, as long as certain […]
Know the Depreciation Basics for Tangible Property
With the exception of land, all tangible property generally loses value over time because it deteriorates (e.g., buildings or vehicles), becomes obsolete (e.g., computers) or loses protection against competition (e.g., […]
What To Know About Business Tax Records
Your recordkeeping system should include a summary of every transaction that takes place in your business’ name. Make sure you maintain and update a summary of all business transactions. How […]