Small Business

Although the definition of what constitutes a “reasonable” wage may seem subjective, the IRS scrutinizes the S Corp’s source of income—its gross receipts—and then determines if (and what tasks) the owner/shareholder performed for the S Corp to assist ...

Small business growth has boomed during the pandemic, with business applications growing substantially in 2021 as compared to 2020 and 2019. As these new businesses grow and scale – many of which are selling their services or products online ...

The Sunshine Protection Act, which was co-sponsored by lawmakers of both parties, would lock in next year’s switch to Daylight Saving Time in March. It follows a 2018 Florida law that would permanently lock in Daylight Saving Time contingent ...

The extended deferment period will provide additional flexibility to small business owners impacted by the pandemic, especially those in hard-hit sectors managing disruption with recent variants, as well as recent supply chain and inflation challenges ...

Several of the largest carriers, including United Airlines Holdings Inc. and American Airlines Group Inc., cut their capacity forecasts for the first quarter, while Delta Air Lines Inc. held growth to the low end of a previous range, according to ...

NRF forecasts that 2022 retail sales will total between $4.86 trillion and $4.95 trillion. The numbers exclude automobile dealers, gasoline stations and restaurants. Non-store and online sales year-over-year, which are included in the total figure ...

After two years of retooling and resilience, small businesses still face a difficult recovery, with nearly 80% of small businesses reporting continued negative effects and 63% reporting a reduction in revenue compared to 2019.

Will the IRS find out if you don't report your income? This is the question everyone wants to ask, but tax professionals don't want to answer because of ethical or liability concerns.