Tax Resources

Health care costs have risen at an alarming rate over the past several years. There is perhaps no one that’s been hit harder in this regard than small businesses. It’s difficult for a small business owner to cover their own health care costs, let alone those of their employees.

Fortunately, there are some ways you can help contain your costs, and help out your employees as well: a Medical Expense Reimbursement Plan (also known as a “MERP”). While it doesn’t take all of the stings out of rising costs, it does provide you with a tax-free way to pay for medical expenses.

Here are some of the basics about the medical expense reimbursement plan, and why you should consider implementing … Read more →

Owning a business means putting in long hours and lots of hard work. It means putting your business first, even when you’d rather be doing other things. It means learning to wear several hats, and it means putting your own financial well-being on the line. In short, business ownership isn’t for the faint of heart.

There are perks to owning a business, too. In many cases, you have the flexibility that you wouldn’t otherwise have in terms of your schedule. You don’t answer to anyone else; you’re the captain of your own ship. On top of all of that, there are some small business tax benefits that go along with business ownership, as well.

Here are some of the small Read more →

As a small business owner, you do everything you can to remain profitable. You carefully watch expenses, you work long hours, and you strive for efficiency.

One of the expenses you can’t avoid as a small business owner is taxes. If your business makes money, you’re going to owe taxes. Fortunately, there are plenty of small business tax deductions available that help.

Here are some of the most overlooked small business tax deductions, and what you can do to take advantage of them:

Child labor

Of course, we’re not talking about sweatshop conditions for poor inner-city children here. We’re talking about putting your own family to work in your small business.

Depending on the amount that you pay your children … Read more →

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