The Department of Labor (DOL) recently announced a significant update to the overtime rule, impacting both employees and employers across various industries. This rule, under the Fair Labor Standards Act (FLSA), entails an increase in the minimum salary threshold and...
Business
The Pros and Cons of Invoice Financing for Small Businesses
Small businesses often face cash flow challenges that can hinder growth and stability, but invoice financing can offer a solution that helps address cash flow gaps, meet operational expenses, and fuel growth without waiting for payment from clients. However, it comes...
Key Tax Strategies for Self-Employed Professionals to Maximize Money Savings
Self-employed professionals juggle numerous responsibilities, and while taxes are often a top concern, devising a strategic plan typically gets pushed down the priority list. This can lead to overpaying taxes. Read on for some tax strategies to help self-employed...
Why the IRS Pressed Pause on the COVID-Era Employee Retention Tax Credit for Small Businesses
In response to a surge in questionable claims, IRS Commissioner Danny Werfel recently issued a directive to halt the immediate processing of new applications for a pandemic-related small business tax benefit. The employee retention credit (ERC), which was designed to...
These Four Strategies Are Helping Small Businesses Rise Above High Inflation
Inflation typically tightens profit margins and threatens the long-term viability of small businesses. Despite this challenge, they are proving to be resourceful in navigating the unpredictable economic landscape by adopting innovative approaches. This article...
The Small Business Benefits of Charitable Giving Go Beyond Tax Deductions
Charitable giving is a powerful way for small businesses to give back and help make a meaningful difference in communities. While the potential for tax deductions often serves as a compelling incentive for businesses to engage in philanthropy, this article discusses...
Which Business Structure is the Right Choice for Your Small Business?
Selecting the right business structure is an important step that will determine legal, financial, and operational aspects of your small business. This decision, though weighty, doesn’t have to be a permanent one. As your company grows and evolves, you might shift to a...