Small Companies Get Additional Time For Reporting Benefits

June 27, 2011 7:37 PM in Accountants / CPAs
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The IRS has just announced that small companies will get an additional year before being required to report the value of employee health benefits on their employees' W-2 forms.

Health reform legislation passed in 2010 included a requirement that employers report on W-2 forms the value of health coverage they provide to employees. The IRS had already provided relief for all businesses by making reporting optional for 2011 W-2 forms.

Now, small companies that file fewer...

Starting A Business In A Down Economy

August 10, 2010 6:58 PM in Accountants / CPAs
212 views

High unemployment, beleaguered stock values, corporate and personal bankruptcy — these headlines have become all too familiar. But the same factors that signal a recession can actually highlight a great opportunity for folks hoping to start small businesses.

For one thing, fewer businesses in the marketplace can mean fewer potential competitors. For a start-up company, that can be good news. It's difficult to enter a market when the economy is booming and competition is...

How To Work With Vendors When Cash Is Tight

July 14, 2010 8:17 PM in Accountants / CPAs
257 views

For many small businesses, maintaining adequate cash flow can seem almost impossible. Customers are tightening their belts, lending institutions are rethinking their credit terms, and suppliers are struggling to maintain their own vendor relationships. In today's economy, many business owners have seen their personal net worth plummet and some are facing bankruptcy.

All this makes today an excellent time to renegotiate with your vendors. Because most businesses are facing...

Basic Financial Statements Provide Important Information For...

May 10, 2010 6:54 PM in Accountants / CPAs
287 views

Three basic financial statements — the balance sheet, income statement, and statement of cash flows — can provide a wealth of information to help business owners track the stuff they own, bills they owe, and ongoing cash flows. These financial statements also provide insight when business owners are weighing financing options, managing day-to-day payroll and inventory, and looking for motivation when the orders aren't flooding...

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