Entrepreneurial and Small Business Articles

If you’re a small business owner, travel deductions can significantly reduce your taxable income. Here’s how to make the most of them.

More than 32 million U.S. businesses are required to file beneficial ownership information (BOI) reports this year, but the clock is ticking.

Guaranteed payments to partners and payments to retired partners are just two of the tax issues that should be addressed in your partnership or LLC operating agreement.

Need another reason to maintain accurate and detailed financial statements? You’ll appreciate having them when it comes time to determine the value of your business.

With 2025 closing in fast, here are year-end moves to consider that may help your small business save on taxes.

Employers are left waiting after a court struck down – at least temporarily – a law that would ban most noncompete agreements.

The IRS has brought back a program that allows businesses to repay wrongfully gained employee retention credit money and avoid penalties.

Running out of products? Or maybe stocking too many? QuickBooks Online can be a valuable tool to help solve both problems.

For most business co-owners, the value of their business shares comprises a big percentage of their estates. Having a buy-sell agreement protects co-owners and their heirs and helps avoid hassles with the IRS.

There are many tax implications to consider in the sale of business property, and they can be complex.

Do you have a viable succession plan in place for your company? Here are ways to get started and make the process easier.

Even if your business is established and on solid ground, don’t overlook the potential value of a detailed business plan.

As more companies report goodwill impairment issues and write-offs, it’s important for business owners to know the rules.

The fate of TCJA provisions could be decided by the November elections. But planning now might soften the blow of a worst-case scenario.

A FASB advisory group will focus on four big regulatory issues faced by private businesses this year and determine whether changes are needed.

There are a number of different hobbies that some taxpayers turn into businesses. Here’s how they can protect tax breaks on their tax returns.

Outsourcing payroll, also known as managed payroll, can decrease risk, increase accuracy, protect sensitive data and improve business continuity.

If your business does jobs that have related income and costs, you can use QuickBooks Online’s Projects feature to track them.

Filing threshold for business tax filings increases to $100,000, sparing more than 100,000 businesses from tax liability.

The deadline to comply with a new U.S. Department of Labor rule regarding worker classification is March 11.

Even if your startup business has little or no income tax liability, you may be eligible for a payroll tax credit election for increasing research activities. This tax break got better under the Inflation Reduction Act.

Many new ventures start out as sole proprietorships. Here are nine considerations if you’re operating a business that way.

Many employers who sought the employee retention credit aren’t even aware that they’re at risk of penalties and steep fines for making fraudulent claims. The IRS says these signs might help.

The holiday whirlwind has begun, but don’t ignore a few potential ideas for your small business to save on 2023 taxes.

Extensive reporting requirements stemming from the Corporate Transparency Act will affect many business owners starting January 1.

Identifying related parties is just one of many parts that go into preparing financial statements. Here’s why they matter, why auditors give them scrutiny, and how to avoid the risks that often accompany them.

At some point as a business owner, you might entertain the idea of selling and moving on to a new endeavor. The process of selling a business can be tedious, but having a plan in place and knowing the tax implications of a business sale can help reduce the stress and, potentially, the tax implications.

Have you connected your bank accounts to QuickBooks Online? It’s a great way to simplify your transaction tracking.

Scammers are hyping quick, easy money from the employee retention tax credit, but despite what you might hear in the slick advertisements, the IRS has a warning for employers.

Lenders will be required to compile and analyze more information about small business loan applicants under a new federal rule finalized March 30.

The cost of goods sold can account for 70% of a company’s expenses, according to recent discussions by the FASB’s Investor Advisory Committee. However, some companies skimp on details around the costs they incur to produce goods. The FASB’s disaggregation of income statement project could change that.

Every business can be an innovator. The research tax credit is a way to reward that innovation, and it comes with an intriguing feature related to payroll taxes.

Depending on the nature of your company’s operations, your balance sheet may include inventory totals. Here’s why your inventory system might be flawed and giving you the wrong numbers.

Businesses and nonprofit groups are gradually adjusting to requirements of the new lease accounting standard, such as bringing most leases onto the balance sheet. Since ASC 842 can seem confusing, here’s a quick guide to ease the adjustment period.

Being fully prepared and organized can help your financial statement audit go smoothly and ultimately save your business or organization time, money, and headaches.

Diversity, equity, and inclusion are buzzwords in modern strategic management. Here are some of the benefits that initiatives in these areas bring to public and private companies and how companies can showcase their progress in footnote disclosures and separate diversity, equity, and inclusion reports.

During the COVID-19 pandemic, many audit procedures have been performed remotely, forcing auditors to rely more heavily on analytical procedures. It’s important to understand how auditors use analytical procedures to make audits more efficient and effective.

Have you taken a few minutes to really explore QuickBooks’ report center? It’s the best way to learn about the variety of reports available from one of QuickBooks’ most powerful components.

Tennessee offers a variety of tax-saving credits. Do you know what’s available and how they could help your business?

Cybercrime isn’t just an issue for big corporations. Your small business can be a target, too. Are you protecting your QuickBooks data?

The value of an internal audit is different for everyone and can change based on circumstances, but a solid framework can provide the conditions necessary to deliver value to you.

A meticulous approach to keeping business records can protect your tax deductions and help make an audit much less painful.