June 1, 2022 -- Volume 21, No. 6
A Tax Portrait of Business Owners

With National Small Business Week recently passed, it’s a good time to look at how business owners appear on their personal tax returns. The IRS’s Spring 2022 Statistics of Income Bulletin has data on 2020 returns. Here are some highlights for a tax portrait of business owners: Read More
Mental Health in the Workplace: What Can Employers Do?
The pandemic has been stressful. Inflation is taking its toll on everyone. Crime, politics, you name it…all are contributing to challenges to mental health. May was Mental Health Awareness Month, so it’s a good time for companies to focus on this issue for their employees. ...
To retain employees and keep your workforce happy and healthy, understand the problem and what you can do about it. Read More
You Pay Company Expenses: Who Takes the Deduction?

It’s common for business owners to pay various expenses from their own pockets. It just may be easy to do. But it can impact who takes the deduction for these business expenses. The entity used by your business dictates this…but you can change the results with reimbursement arrangements. Read More
Counting the Hours: What Is Compensable?

Under the federal Fair Labor Standards Act (FLSA), you must pay workers subject to minimum wage rules for the time that work is performed. This rule applies whether they’re working at your company site, in their homes, or on location. This simple statement is more complex when you try to define whether the time spent on certain activities falls within FLSA requirements. Look at various scenarios: Read More
Disasters Happen: 6 Ideas to Help Prepare Your Business

Disasters can happen at any time. They can be natural disasters, such as storms, earthquakes, and mudslides. Or they can result from human activity, such as arson and riots. Certain periods see more frequent natural disasters. ...Because of the potential for experiencing a natural disaster, all business owners should, as former Prime Minister Benjamin Disraeli said, “prepare for the worst but hope for the best.” Read More
State of Small Business
The State of Small Business 2022

May 2-5, 2022, was National Small Business Week. It was a time to recognize the important contributions that small businesses make—to their families, their employees, the economy, various causes, and more. ...It is also a good time to see where things stand in this post-pandemic era. Read More
Agreements with Employees

When you hire a worker, you effectively have an agreement that you’ll pay the worker for the work performed and treat the worker fairly. But depending on the nature of the worker—skilled, management, etc.—and the nature of your company, you may want additional agreements. Read More
Startup Ideas for Success: Getting the Right Insurance

Getting insurance is an integral part of running a business. Some insurance is mandatory, some is highly advisable, and some is merely good to have if you can afford it. Understand which insurance to get when starting out and consider some ideas you can use to make it affordable. Read More
Mothers in Workplace
Honoring Mothers In the Workplace

Mother’s Day 2022—the second Sunday in May each year—was proclaimed by President Woodrow Wilson "as a public expression of love and reverence for the mothers of our country." It also serves as a good reminder to employers that working moms should be honored all year long with policies and practices that support their situations. The pandemic highlighted the strain on many working moms during the lockdown when they had to manage work and their children’s remote learning. In fact, 1.1 million women left the workforce entirely, many citing childcare demands as their reason. So, what can employers do now to attract and retain working moms as employees? Read More
This Month's Featured Guest Blog
A Guide to Data Integrity for Business Reliability and Trust
by Shannon Flynn
In the business world, organizations have to create and maintain data on various platforms to ensure accuracy. Most companies handle data regularly by storing and sharing it digitally — and sending the stored information from databases. ...In fact, 44% of firms share data continuously. However, this can lead to mistakes, negatively impacting the organization. Yet, companies can prevent and resolve these issues quickly by maintaining data properly. Here’s your guide to data integrity. Read More
Counting the Hours: What Is Compensable Under the FLSA
Under the federal Fair Labor Standards Act (FLSA), you must pay workers subject to minimum wage rules for the time that work is performed. This rule applies whether they’re working at your company site, in their homes, or on location. This simple statement is more complex when you try to define whether the time spent on certain activities falls within FLSA requirements. Look at various scenarios:
How Does Raising Your Company's Prices Impact Your Taxes
In this inflationary environment, many businesses must raise their prices to continue paying higher wages, taxes, and expenses and at least stay even in terms of profitability. ...When raising prices, businesses primarily focus on how this affects customers…will higher prices discourage sales? But don’t overlook the impact that higher prices have on taxes.
Top 40 list
Honored to be Included in this
NEW 2022 FeedSpot list!
And in this 2022 list curated by n2co.com --
"We’ve rounded up the top seven newsletters you
should subscribe to as a business owner and what they’ll offer. "
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.
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.
Don't miss out!
500+ Big Ideas for Your Small Business
Ideas You'll Use Everyday!
Whether you’re a seasoned entrepreneur or just starting out, you’ll find actionable ideas to help you with your finances, your operations, your staff, your marketing, your taxes, your technology, your environment, and your personal growth. (Find it on Amazon for $3.95)
MORE Resources You Won't Want to Overlook!
Another e-book for subscribers!
Free to download when you subscribe to our mailing list. Spread the word - tell your friends!
Note: Regular subscribers, no worries, you won't receive duplicate mailings if you download the new e-book.
Stay informed as you continue with your all-year-round tax planning.
Find the online supplement for the Small Business Taxes 2022 here;
supplement for the 1001 Deductions & Tax Breaks 2022 here and the 2022 tax books at Amazon.
HBM Home-Based Business Start-Up Guide
Delivery Driver Tax and Business Guide

(Paperback Edition)
Top industry leaders share their secrets for turning pain into profit!
by Barbara Weltman