Small Business: Coping with Shortages and Delays

As we entered the New Year, businesses continue to be hampered by a near-unprecedented lack of supplies and materials. Besides items that have received widespread national attention like toilet paper and computer chips for cars, the slowdown in the supply chain is affecting everything from electronic devices to couches to sneakers—and plenty in between. To…

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Make Payroll Taxes Easy in 2022

Handling employment taxes can be complicated, especially when you’re required to file important tax documents throughout the year. Here’s a quick recap of the most vital payroll tax forms and what you can do to make your payroll life easier heading into 2022.   Important Payroll Tax Forms Form 941 — Employer’s quarterly federal tax…

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Tips to Maximize the Value of a Car Donation: A little mistake could cost you plenty

At the end of the year you will be inundated with commercials to donate a vehicle to charity. While it is one of the biggest contributions a taxpayer can make, if not done carefully, the tax deduction of a donated vehicle could be a lot lower than you think. The Rule When you donate a…

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4 Key Elements of Great Business Books

Your bookkeeping system is the financial heart and lifeblood of your business. When set up and operating properly, your books help you make smart decisions and seamlessly turn your financial data into useful information. Here are four key characteristics to build and maintain a healthy bookkeeping system: Select the proper accounting method There are two…

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Al Capone, Aunt Becky, Tax Fraud and You! How you can learn from high-profile tax scandals.

The recent college admission scandal involving Lori Loughlin (who played Aunt Becky in the Full House TV series) and others is shedding light on just one way people allegedly cheat on their taxes. Here are examples of some famous people in tax trouble with the IRS and helpful hints to make sure it doesn’t happen…

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Don’t Let Disaster Befall Your Favorite Non Profit

The filing deadline for most non-profit organizations is May 15. Missing this deadline results in penalties that can devastate the organization’s budget, or worse, strip them of their non-profit status and make your donations non-tax deductible! Here’s what you can do to help them: Check the charitable status online. The IRS has a master list…

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Hints to Eliminate Monthly Bill Creep

Paying bills is inevitable, but paying too much is not. Are you aware of all the services you are paying for every month? Here are some tips to help you get a handle on your recurring monthly expenses: Investigate your recurring services. Start by taking stock of every service you are currently using. Review your…

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Oh No! Your Tax Refund is Now a Bill

If you are anticipating a nice refund this year, it may be a good idea to prepare yourself for a possible letdown. Many taxpayers will receive a smaller-than-expected refund and might even owe taxes to be paid by April 15. If this happens to you, here are some of the likely reasons: Higher take-home pay.…

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Every Business Needs Cash: 5 Keys To Better Cash Management

Focusing solely on sales and profits can create a surprise for any business when there is not enough cash to pay the bills. Here are five key principals to improve your cash management. Create a cash flow statement and analyze it monthly. The primary objective of a cash flow statement is to help you budget…

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It’s Your Money. Get it Back NOW!

According to Credit Karma, over $40 BILLION of unclaimed property is currently being held by state governments. That’s a staggering amount of money – enough to buy half of the National Football League franchises. Not included in that figure is property sitting with federal agencies and other organizations. So what exactly is unclaimed property and…

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