Latest News

Now is a Great Time for a Mid Year Company Review

With 2019 halfway over, it's a great time to take stock of how your business has done for the first half of the year and make any necessary adjustments to meet your financial goals for the entire year. Competitor Analysis How are your tracking with your competition? Is your gross profit margin within industry ranges or below? What about your net profit? What about your overhead per employee? ... Read More

August/September Dates to Remember

Aug. 12 Form 4070- Employees use form 4070 to report tips to the employer. This includes cash tips, tips received from other employees, and debit and credit card tips for tips received more than $20 during July. Employers- For Social Security, Medicare, and withheld income tax, file Form 941 for the second quarter of 2019. This due date applies only if you deposited the tax for the quarter in full... Read More

The Power of Influencer Marketing

One of the hottest buzzwords in marketing is influencer marketing. Influencer marketing uses key people in thought leadership positions to spread the word about your brand.These people may be paid or unpaid spokespersons for your brands, products, and services. The profitable thing about influencer marketing is the leverage.Instead of marketing or selling to one person at a time, you are marketing to key... Read More

Could Your Business Survive a Disaster

As business owners, we want to remain optimistic about our business's future. But life can happen, and we need to be prepared. A good business owner thinks about all the risks to their business and has a plan in place to reduce or eliminate them. In the past year, we've seen floods, tornadoes, hurricanes and more. And those are just the weather disasters. Are you ready? A Nationwide survey revealed that... Read More

Virtual Currency Owners May Owe Back Taxes

The IRS has announced that it has begun sending letters to taxpayers that may have failed to report income and pay the resulting tax from virtual currency transactions or did not report their transactions properly. Background. Virtual currency is a digital representation of value that functions as a medium of exchange, a unit of account, and/or a store of value. It can sometimes operate like "real" currency,... Read More

Tammy Guelfo Wins Must Dance

Celebrity Ballroom Dance Studio in Marietta recently presented MUST' Ministries own "Dancing with the Stars" event to benefit programs that help people escape poverty and homelessness to make new lives for themselves. Congratulations to Tammy Guelfo for winning the Mirror Ball and for helping raise money for people in need. Read More

July Dates to Remember

July 15 Employers. For Social Security, Medicare, withheld income tax, and nonpayroll withholding, deposit the tax for payments in June if the monthly rule applies. July 31 Employers. For SocialSecurity, Medicare, and withheld income tax, file Form 941 for the second quarter of 2019. Deposit any undeposited tax. If your tax liability is less than $2,500, you can pay it in full with a timely filed return.... Read More

What is Reasonable Compensation?

For small businesses formed as an S Corporation and with plenty of profits, reasonable compensation is a term you may want to be familiar with. Many small businesses have organized as an S Corporation form of entity. In many cases, the S Corp election allows a business owner to save money on self-employment taxes, especially if they are operating as a sole proprietor. S Corp profits, or distributions,... Read More

5 Ways to Streamline Your Payroll Process

For business owners with employees, payroll is a necessary task that can slow your day and tie you down if you let it.If you're looking for a way to make payroll less time-consuming, here are five ideas you can put to good use: Employee Onboarding - If you hire a lot, empower your new hires by letting them do their paperwork for you. A good payroll system allows employees to "onboard" themselves,... Read More