Every year, many businesses choose to operate as DBA, or “doing business as,” which means that they are using a fictitious or assumed business name. In these situations, the legal, registered name of a DBA business is different from the name that they are operating under. This can be...
Tax season is right around the corner, which means that every business should be sitting down with their accounting professionals to review their books for the year and get their taxes filed on time. However, as you look ahead it’s a good idea to familiarize yourself with tax credits...
Choosing the legal structure of your business can be incredibly challenging, as there are pros and cons of each structure. While some of the differences will primarily impact how you run things behind the scenes, there are many tax implications associated with all of the formats. At MKS&H we...
As a small business owner, keeping your business financially healthy is critical. The COVID-19 pandemic showed many businesses just how little can stand between huge success and major financial trouble. While there might not be another crisis for many years, planning ahead can help make sure that the financial...
While your e-commerce business might feel different from a traditional brick and mortar business, the law and IRS will treat you in much the same manner. In fact, you might have additional regulations that you are subject to. E-commerce businesses should work with a tax professional to make sure...
The American Rescue Plan brought many different changes to businesses, and one of the things that is changing is the Form 1099-K reporting threshold for third-party settlement organizations. The old rule, which remained the rule for the 2020 and 2021 tax years, centered around a $20,000 minimum per 200...
Recently, the AICPA Auditing Standards Board (ASB) issued an updated Statement on Auditing Standards that will lead to some audit changes in how employee benefit plans that are subject to ERISA are examined. If you are having an audit performed, it’s important that you understand how the auditor’s report...
Time is money, but for small businesses sometimes it seems like you don’t have either to spare. While there are some tasks that you can tackle yourself with the help of a book or a few YouTube videos, there are others that you shouldn’t risk letting someone else handle....
How do you make the right decisions for your business? You might be surprised how many businesses don’t have updated bookkeeping and accounting records. Without them, there is no way to fully understand what the best path forward for your business is. What are some of the benefits of...
When your business has numerous target audiences, business segmentation can be the most effective path forward. Because the average customer bears witness to so many advertisements over the course of a single day, the ones that are most effective are often highly targeted. When you have multiple business lines...
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