Michele Bossart

An estimated 3.4 million workers deal with independent contractor misclassification. It’s no secret that the IRS has strict policies in place to crack down on employers who misclassify contractors. So, how do you avoid misclassifying independent contractors?

As a business owner, you might offer a variety of benefits to your employees, including health insurance and retirement plans. One option you can offer employees is an employee stock ownership plan (ESOP). Along with other benefits, ESOPs are growing in popularity for small businesses. According to the National Center for Employee Ownership (NCEO), as […]

As a small business owner, you have likely heard of the terms gross or net income. But, are you familiar with adjusted gross income? Learn what is adjusted gross income, how to calculate it, and uses for adjusted gross income below.

Do you find yourself purchasing or asking an employee to buy something for your business from time-to-time? If so, you may benefit from using a petty cash fund. Learn more about what is petty cash, the purpose of petty cash, and petty cash uses for your small business.

Unless you own a service-based business, you likely have inventory. Knowing how much inventory you have is crucial for managing accurate small business accounting books, ordering new stock, and making pricing decisions. So, what is inventory?

Juggling different expenses comes with the job of being a small business owner. One cost you’re responsible for is your company’s taxes. There are several aspects of your business that the government enforces taxes on. To stay legally compliant, you must stay on top of your small business tax liability.

Receiving a tax notice from the IRS can be scary. But, there are basic steps that you can take when responding to IRS notice.

If you are a sole proprietor or partner, you or you and your partners are entitled to everything in your business. You don’t provide dividends to shareholders. You have full ownership of your business. However, you still have liabilities that you need to handle. Failing to consider your liabilities will give you a false picture […]