Small Business

Home/Tag: Small Business

Small business is the backbone of the United States Economy. Small businesses comprise 99.7% of U.S. Employer firms, responsible for almost two-thirds of new private sector jobs, and half of the private sector employment, payroll, and output.

Small business owner opens business

At the core of the American Dream was coming to America, starting your own business, buying a home, and raising a family. If the “chief business of the American people is business” as President Calvin Coolidge said, than the chief growth of business is the entrepreneur.

While not as flashy as the venture-capital backed startup, owner operated businesses employ many people, and create income and wealth for their owners. Whether an attorney with a small law firm, a doctor in private practice, or a restaurant owner, business owners need help with managing areas of bookkeeping, financial planning, and payroll.

Most of our clients are business owners, and we manage all of their financial affairs related to the compliance and tax obligations. This is important because most of these companies are organized as LLCs or S-Corporations, which are forms of pass through entities. It is impossible to engage in tax planning or strategy without seeing a holistic picture of your income and net worth.

Payroll often presents a huge problem for owner-operated companies. If taxed as a partnership, you often are not permitted to run payroll for the owners. If taxed as an S-Corporation, it is often required that you run payroll. These areas of taxation are straightforward, but the penalties for non-compliance are unreasonable, so it is important that you work with a CPA that understands you and your situation.

PPP Second Draw

By |2021-03-01T22:08:15-05:00February 2nd, 2021|Deadlines and Updates, Deeper and Longer with Bette|

Welcome back to Finance Friday. I've been getting a lot of questions about the PPP second draw by clients and business owners and lots of curious people so I figured it would be great to go over what the PPP second-draw looks like and try to answer some FAQs that I've been getting and explain a little bit about this program.

Load More Posts
Go to Top