Small Business

Practice Development

Paychex Introduces Website to Spur Small Business Development

In the more than forty years Rochester, New York–based Paychex, Inc. has been in business, its mission has been to provide excellent payroll, human resources, and benefits outsourcing solutions to the backbone of the American economy – small and medium-sized businesses.
Tax

IRS issues final rules relating to election to deduct business startup expenses

The IRS has issued final regulations relating to elections to deduct start-up expenditures, organizational expenditures of corporations, and organizational expenses of partnerships.
Tax

Tax Strategy: Set up a CRUT for a business sale

If a client is planning to sell a business, the sale could result in a huge capital gain. But there’s a way to reduce the tax bill, provide for a comfortable retirement and help out a favorite charity – all in one shot.
AccountingWEB Life

Lots of free goodies available during National Small Business Week

To help acknowledge National Small Busines Week, several companies and federal agencies have produce booklets, materials, and other tools that are helpful to small businesses.
Tax

AICPA wants IRS to allow e-file for S corporation election

The AICPA has recommended that the IRS allow electronic filing of the form electing S corporation status so that taxpayers will have immediate and verifiable conformation of the status.
Technology

Intuit offers $10,000 to innovative entrepreneurs

Do you have Intuit’s next great idea? If so, the company wants to hear from you. Intuit Inc., which created Quicken and QuickBooks, is unveiling a website where innovators can collaborate to solve some of the company’s biggest product challenges. And in the process, someone’s bright idea may be worth up to $10,000.
Technology

New QuickBooks certification will validate small business accounting skills

Certiport, a provider of performance-based certification exams and practice test solutions, has announced the availability of a new Intuit QuickBooks Certified User (QBCU) certification program, designed by Real World Training, which is endorsed by Intuit.
Tax

Democrats try to take the lead for repealing onerous 1099 rule

Rep. Nydia M. Velazquez (D-NY), the ranking member of the House Committee on Small Business, has called for repeal of the onerous new tax reporting rule, which was enacted last year as part of health care reform.
Tax

Here a loophole, there a loophole

Most of the richest Americans that populate the annual Forbes 400 list gained their wealth by owning founders' stock. Allowing favorable tax treatment on this stock might be costing taxpayers by $100 billion a year, or $1 trillion over ten years.
A&A

Employment, pay improves for small businesses in October

Small business employment growth and compensation picked up in October with a strong uptick in hours worked.
A&A

AICPA supports separate standards board for private companies

In a statement issued in advance of a meeting of the Blue Ribbon Panel on private company standards setting, panel member Barry Melancon said he expected the panel to recommend a new model of financial reporting that will generate different standards for private companies.
Tax

Small accounting firms could see large benefits from new tax legislation

A small-business jobs bill awaiting approval from President Obama that aims to boost billions of dollars of lending and investment to entrepreneurs and provides $12 billion in tax cuts to small businesses is getting mostly positive reviews from two small accounting firms.
A&A

Blue Ribbon Panel leans toward separate GAAP for private companies

At its most recent meeting the Financial Accounting Foundation's (FAF) Blue Ribbon Panel chairman asked the panel to define the problem that private companies faced with U.S. GAAP and to narrow the field for proposed alternative models.
A&A

Sam’s Club testing loan program for small-business members

Loans of up to $25,000 will be available to small-business members of Wal-Mart’s Sam’s Club warehouse stores under a partnership with the lender Superior Financial Group.
Tax

Outright.com announces winner for wackiest tax extension excuse competition

Outright.com, the online bookkeeping service for the small, self-employed entrepreneur, recently announced the winner in its contest for who could come up with the strangest or most interesting excuse for needing a tax extension.
Tax

Recession has strong impact on state, local business taxes

The recession has had a huge impact on state and local business tax collections, according to a recent study. This decline has legislators scrambling to fill huge budget gaps by raising taxes and reducing government spending.
A&A

Survey results show small businesses are getting ready to hire

The nation’s unemployment rate may have hit a 26-year high in September but many small business owners are getting ready to hire.
AccountingWEB Life

New IRS Retirement Plan Navigator helps small businesses with retirement decisions

The IRS has created a new Web-based tool to help small business owners choose a pension plan that suits their needs
A&A

How to select a new small business accounting system

If you are a new business or an existing business that just needs more than your current application can provide it is important that you spend some time planning what you need today and what you need two years from now.

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