During the pandemic, data breaches disproportionately affected smaller companies; they were targeted at twice the rate of larger businesses. Since the pandemic, those same smaller companies have been struggling with COVID-19 fallout ranging from supply and labor shortages to bouts
S corporations are entities that can pass corporate income, losses, deductions and credits through to shareholders for federal tax purposes. Shareholders report the flow-through of income and losses on their personal tax returns and are assessed a tax at their
If you are the owner of a small or midsize business who is looking toward retirement, this could be the time to start thinking about selling your company. Or maybe you’re a family-owned business poised for growth. In either case,
The small business pages on IRS.gov serve as comprehensive guides for people looking to navigate the entire life cycle of their business as well as their business-related tax obligations. If you are starting a business and need assistance figuring out
The IRS has announced that businesses can now file Form 1099 series information returns using a new online portal, available free from the IRS. Known as the Information Returns Intake System, this free electronic filing service is “secure, accurate and
Are you wondering if the passive activity loss rules affect business ventures you’re engaged in — or might engage in? If the ventures are passive activities, the passive activity loss rules prevent you from deducting expenses that are generated by
It’s been a year like no other. The sudden impact of the COVID-19 pandemic in March forced every business owner — ready or not — to execute his or her disaster response plan. So, how did yours do? Although it
Cash flow is a top concern for most businesses today. Cash flow forecasts can help you predict potential shortfalls and proactively address working capital gaps. They can also help avoid late payments, identify late-paying customers and find alternative sources of
The subject of payroll has been top-of-mind for business owners this year. The COVID-19 pandemic triggered economic changes that caused considerable fluctuations in the size of many companies’ workforces. Employees have been laid off, furloughed and, in some cases, rehired.
Marketplace changes during the COVID-19 crisis have caused many companies to make major strategic shifts in their operations — and some changes are expected to be permanent. In certain cases, these pivot strategies may need to be reported under the