Profit & Tax Blog

Almost no service business owners work with an annual budget. But a budget isn’t just a spreadsheet with some numbers, it’s the profit plan.

Many service business owners think they’ve got a handle on their overhead numbers, but more often than not, they aren’t looking at the true costs of labor.

Signed into law on March 11, 2021, the American Rescue Plan Act (ARPA) contains several tax provisions affecting individuals and families. Let’s take a look.

On March 12, following the American Rescue Plan Act’s approval and signing, the IRS began sending out the third round of Economic Impact Payments.

Understanding financial numbers is a skill. It takes effort to get comfortable with working with these numbers, but it’s vital to your service business.

Learn how to put profit in the driver’s seat of your service business instead of it being an afterthought at the end of very long workdays.

The Payroll Protection Program (PPP Rule) has been a rollercoaster for service business owners. But the new rule is good news for many.

Eligible employers can now claim a refundable tax credit against the employer share of Social Security tax equal to 70% of the qualified wages they pay to employees after December 31, 2020, through June 30, 2021.

If you are considering buying an existing business, take time to investigate the business thoroughly. Find out how to do just that here.

One of the smartest tax moves you can make is hiring your spouse as your employee, but there are pitfalls you must avoid if you want tax savings.