3 Tips For Getting Your Small Business Finances In Order
1 November 2017
When you run a small business, with very few employees, it can be easy to mix up your personal finances with your business finances. However, it is important to keep your business finances and your personal finances separate. Here are a few tips for getting your books in order before the end of the year:
#1 Set Up Separate Bank Accounts
If you are still mixing up your personal and business expenses and income, you need to set up separate bank accounts for your business and for your personal life.
How Part-Time Workers Affect The ACA Health Insurance Requirement For Employers
30 October 2017
Employers that have a few dozen workers may be near the threshold at which health insurance must be provided to employees. The Affordable Care Act (ACA) generally requires employers with 50 or more full-time employees to offer health insurance. For purposes of the ACA, however, the number of part-time and seasonal workers affects the tabulation of full-time workers.
Each part-time worker is counted as a partial share of a full-time employee.
Not Using An Accountant For Your Small Business?3 Reasons You Need To Hire One
19 October 2017
If you own a small business, but you haven't hired an accountant, you could be setting yourself up for some serious problems. First, you've got too much on your plate to try taking care of the financial records. Second, if you're handling your own finances, that means you're also handling your own taxes, which can be detrimental. Here are three reasons why you need have an accountant for your business.
Why Are There Three Different Versions Of Form 1095 For Healthcare Insurance?
18 October 2017
Several aspects of the Affordable Care Act interact with federal income tax regulations. The penalty for not having health insurance is assessed on individual tax returns. As part of the implementation of the ACA, healthcare providers issue certain IRS forms to insured individuals. Although the three main forms issued to tax filers have similar-sounding names, the forms serve very different purposes.
Tax filers are sometimes initially confused to learn that there are three IRS forms in the Form 1095 series.