Given the current pandemic and the millions furloughed or let go by their employers, unemployment in the US has risen to record highs. Since 1948, unemployment averaged 5.74%, by comparison in April 2020, unemployment reached an all time high of 14.7%. As a result, the CARES Act, passed by the
So you're finally going to take that big leap and jump into the business ring. Beginning a solo business venture requires a lot of planning, especially when you consider the self-employed (or other entity selection) taxes.If you start your business this year, you will want to get ahead of the
With the fiscal year coming to a close, more enterprises are demanding audit and accounting services from cpa firms. As a small business franchise, one may be tasked with outsourcing these services. So what should be your checklist when choosing a firm that will suit your needs? Here is a guideline
One of the areas of taxes people struggle with most is paperwork. While jobs and mortgage statements are delivered at the start of the year. Where you can save money is all the paperwork you collect over the years. Medical expenses, purchases for work, taking night classes, making a donation, etc.
Your taxes are a big determining factor in qualifying for a loan, and qualifying for a loan is a quick way to scale your business. If you've already proven profitable and you just need more tech and more hands to get everything done, then a loan is a surefire way to rapidly grow. This is one of the
If you are self-employed, typically you need to file a Schedule C form. This form is required to report the income or loss of your business. Additionally, if you're a sole proprietor, independent contractor (a statutory employee), or receive 1099-MISC income, you'll need to file a Schedule C
The coronavirus (COVID-19) outbreak has hit the U.S. hardest of all countries, and caused the nation’s economy to take a significant downturn. With the requirements of social distancing extending for most states, the U.S. government has offered a Paycheck Protection Program to help small businesses
As these harsh economic times continue to intensify for the worst as a result of the COVID-19 pandemic, many small and large scale primary businesses are being forced to either layoff their employees, or furlough them. As of the 4th week of lockdown in several significant states of the world, close