Tax Credits You May Be Missing Out On

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1) Tax Credit for Hiring Veterans The IRS has expanded a tax credit for hiring veterans, which can be as much as $9,600 per veteran for for-profit companies and as much as $6,240 for tax-exempt entities. An eligible employer must file Form 8850  within 28 days of the employees start date. Eligible employees who were hired on or after November … Read More

IRS Audits Small Business Software Files

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Many small businesses use basic accounting software, such as QuickBooks, to cut costs. However many users are not properly trained with the software or the practice of bookkeeping leading to little mistakes that can be easily fixed by adjusting or creating a transaction. Small businesses have always been a target for IRS audits and now the IRS has the authority … Read More

Small Business Job Creation

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Small business employment accounts for half of all private sector employment. Small businesses are an important source of job growth in the United States. Firms with fewer than 20 employees accounted for approximately 18 percent of private sector jobs in 2006, but nearly 25 percent of net employment growth from 1992 to 2005. Statistics show that small business is creating … Read More

Health Care Reform & Small Business

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Healthcare costs place a significant burden on the shoulders of small business. Due to high broker fees and fixed costs small business pay up to 18% more per worker than larger firms for the same coverage. Unsurprisingly the rising healthcare costs over past years have resulted in a significant decrease in employer-provided healthcare. Under the proposed health care reform an … Read More