7 Tips for Building Business Credit
Building credit for a small business is difficult, especially if you do not want to post a personal guarantee. It is possible, though, if the following guidelines are followed: Get in touch with Melo USA PC for more ideas to help in all aspects of your business.
What To Expect From Your 401(k) Audit
If you offer a 401(k) plan to your employees, the first thing you must figure out is whether it needs an independent audit. If you have 100 or more eligible employees at the start of the plan year, you need an audit. The essential word is “eligible.” So you have to include in your total […]
IRS Makes Rare Midyear Mileage Rate Adjustment
The IRS has announced an increase in the optional standard mileage rate for the final 6 months of 2022. Taxpayers may use the optional standard mileage rates to calculate the deductible costs of operating an automobile for business and certain other purposes. For the final half of 2022, the standard mileage rate for business travel […]
Taxes and the Small Business Retirement Plan
The tax year is drawing to a close, which means it’s time for proactive business owners to think about moving liquid assets to tax-favored applications. What does that have to do with retirement? Funding retirement plans in 2021 may lower the amount of tax you will have to pay on April 15, 2022, but there […]
IRS Gives Guidance on Startup Costs
Business owners have to start writing checks even before they start selling their products or services. How are those expenses treated for tax purposes? When starting a business, owners should treat all eligible costs incurred before opening as capital expenditures that are part of their basis in the business. Generally, the business can recover the […]
What To Know About Business Financial Ratios
How do you measure how robust your business is? One of the key ways is by looking at financial ratios, which can be grouped into four categories. Liquidity — Your business’s ability to remain liquid so you can meet your short-term liabilities. How much of a cash cushion do you have each accounting period? How much […]
