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A Quick Look at J.K. Lasser's Small Business Taxes 2025
For more than 25 years, I’m proud to say my tax book for small businesses has been the go-to guide for owners and tax advisers. The 2025 edition for preparing 2024 returns as well as tax planning for 2025 has been updated to include law changes from earlier tax legislation (e.g., Inflation Reduction Act; SECURE Act 2.0) effective in 2024, as well as court decisions and IRS pronouncements. As has been my practice with each edition, I’ve written my own book review to explain the purpose of the book, what’s new, and what’s ahead. Read More
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Growing Your Business by Adapting to Changing Tax Rules | | |
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Many of the tax rules that were put in place through prior legislation are now being questioned (yesterday). The new Administration and new Congress have big plans for the future (tomorrow). But businesses have to operate under existing tax rules (today). It’s essential for small business owners to stay alert to possible tax changes... Read More | |
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5 Factors to Consider in Setting Compensation for Owners
As 2025 approaches, businesses are working on their budgets, and one important aspect is how much should owners be paid? The decision has important consequences for deductibility, payroll taxes, cash flow, benefits, and more. This is a topic I’ve explored in prior blogs (some points of which are repeated here), but it bears further examination. Read More
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What Do Tax COLAs Mean for Your Business in 2025?
The tax picture for 2026 is unknown at this time because many of the tax rules fixed by the Tax Cuts and Jobs Act expire at the end of 2025. But the rules for 2025 are largely in place, although Congress could tweak some of them. One of the factors that helps to settle tax rules and enable planning is to know precisely what the numbers are for the year…and now we know.
Read More
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Tax Changes Expected from a New Administration and New Congress
There has been much talk about the need for tax changes. Many tax rules put in place by the Tax Cuts and Jobs Act of 2017 (TCJA) are set to expire at the end of 2025. And other tax changes that were part of the Tax Relief for American Families and Workers Act of 2024 (Tax Relief Act), languished in Congress (it passed the House but never made it for a vote in the Senate).
Starting in January, with a Republican President and a Republican Congress, expect to see some tax legislation. Read More
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Support Our Veterans: Buy from Them and Hire Them
November 11 was Veterans Day; a federal holiday. A day on which we can recognize that Veterans make great entrepreneurs and great employees. To honor veterans, support their businesses. If you own a business, consider hiring veterans. Here are some reasons why. Read More
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Thanksgiving: Grateful to Be a Small Business Owner
The annual national holiday of Thanksgiving for many businesses is the official start of the holiday shopping season. For some businesses, this period represents their peak sales for the year. But there are many reasons why I’m grateful to be a small business owner in the U.S. Read More
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Understanding Product Quality Standards and Expectations
by Jack Shaw
Like most consumers, you probably don’t mind spending a little more when you know something is of the highest quality. You want to ensure the product you spend money on is top caliber and adheres to standards assuring this. If you manufacture products, your business should produce the same expectations as big brands, as the resulting customer loyalty brings revenue. Achieving and maintaining product quality is at the heart of business success. Read More
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4 Ways to Personalize the Online Shopping Experience for Customers
by Laura Campbell
Traditional versus digital shopping is no longer much of a debate compared to a decade ago. However, online businesses must contend with a vast sea of competitors and other distractions brought on by the development of technology and the internet. As such, e-commerce is all about personalization, which means designing and producing the online experience unique to the shopper. Read More
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AI and the Workplace: Legal Issues and Rules Are Emerging
You can’t avoid hearing about AI and how it will transform the world. Businesses of all sizes are embracing AI. The U.S. Chamber found 99% of small businesses use at least one technology platform, and 81% plan to increase the use of technology platforms. Small Business & Entrepreneurship Council (SBE Council) surveys report similar findings – according to a tech-focused survey the group fielded last year, 93% of small business owners who use AI tools believe these tools offer cost-effective solutions that drive savings and improve profitability.
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Form W-2 Filing Responsibilities for Employers
As the year comes to a close, your employees may have questions about their Form W-2s. Read this article to prepare for their questions and learn more about your responsibilities.
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Filing Your Business Income Tax Return: What to Know for 2025
It's an annual challenge: filing tax returns for your business. Business tax returns include filing federal income tax returns, state returns, and local returns for businesses and owners. This responsibility cannot be avoided. The best way to handle this task is to prepare and start immediately.
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What Is Form 940 and How Is it Used by Small Businesses
An employer's Annual Federal Unemployment Tax return, IRS Form 940, is filed once a year with the IRS by businesses with one or more employees. It calculates the employer's federal unemployment tax based on the business's annual payroll.
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It's not too late! Year-End Tax Preparation for Your Business
Learn: What's new for your 2024 return; Year-end actions to reduce your 2024 tax bill; Payroll-specific tax information; Business Ownership Information Reporting; and more
Register Here to View
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10 Women in the Entrepreneurship Space You Should Be Following
I'm delighted and honored to be included in this list.
Building a successful business is tough, but you’re not alone. Follow these 10 women entrepreneurs for smart tips, tools, and resources.
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Also, honored to be featured in this LinkedIn article:
"SMB Insights on Tap: 8 Experts to Follow"
You can learn more and discover some great resources in this article.
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Mark Your Calendar and Join Me for this Free Virtual Event on
December 11th!
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Resources to Help Your Business Thrive!
500+ Big Ideas for Your Small Business
Ideas You'll Use Everyday!
Click Here to Purchase on Amazon
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Smooth Failing (Paperback Edition)
Top industry leaders share their secrets for turning pain into profit!
Click Here to Get Your Copy from Amazon
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Honored to Receive this Award!
Marquis Who's Who
Honors Barbara Weltman--Who Is Recognized for Expertise in Law and Business
Read Full Press Release Here
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10 Best Small Business Blogs to Read in 2024
Honored to be included in this list
40 Best Small Business Finance
Blogs and Websites
Big Ideas for Small Business® Newsletter
Called "a must-read" for Small Businesses
Best Business Newsletters of 2024 (via Business.com)
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The 2030 SMB Project Series: Talking Digital Currency
with Barbara Weltman
In this special episode of the Small Business Edge Podcast, Brian kicks off the 2030 SMB Project podcast series by discussing the state of digital currency with Barbara Weltman, an expert in small business taxes and the president of Big Ideas for Small Business.
Listen Here
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