Reconstructing Records After a Disaster
If you’re the victim of a major disaster, you might be entitled to government relief. But you will need records to help you prove disaster-related losses for tax purposes, federal …
Small Business Bankruptcy Basics
As debts pile up and customers fail to materialize, bankruptcy may be the only way out. It doesn’t have to be the end of the world, but to make the …
What does the IRS classify as gig work?
The word “gig” has broadened from its original usage by musicians for an engagement for a performance to now include any type of job that’s temporary or flexible, where you’re …
Worried About the Monthly Close
The monthly close process should be standardized. Start by creating a list of standard journal entries that will promote consistency in monthly closings. The following types of adjusting entries produce …
Exit Planning for Business Owners
Whether your business is a start-up or a mature business, exit planning should be part of your overall business plan. That may sound counterintuitive, but the fact is that no …
Selling a Small Family-Owned Business
You’ve worked your entire life to build a family business, and now it’s time to pass it on. But how and when you sell the family-owned business can determine what …