Raising prices can be fraught with risk during good economic times. So what happens if you try to raise prices during bad economic times? As Hamlet would say, “Ah, there’s the rub.” If you raise prices, you risk losing clients to competitors. If you don’t, decreasing revenue or rising costs can capsize your company. So…

You may have started your business as a simple sole proprietorship that files its taxes as a Schedule C on your Form 1040. As your business grows, you may want to change the structure. Here are several scenarios where it may make sense to do just that. Reasons to Create Business Entities Establishing limited liability. The…

Shuttered businesses are realizing that lifting lockdown restrictions doesn’t mean a return to business as usual. Social distancing guidelines and a public wary of venturing into crowded environments means light customer traffic for many businesses. Here are several ideas to help local businesses financially as they re-open their doors: Continue buying gift cards. For many small…

With the major Form W-4 overhaul for 2020, you may field questions from your employees. While it’s not your responsibility to provide tax advice to your employees, it’s good to be prepared to help answer common questions about the new IRS form. Here is a summary of the W-4 changes and answers to some common…