by Nolan Accounting | Nov 20, 2019 | Small Business Accounting
Under federal law, employers must keep payroll records for a certain number of years based on what they contain. This can cause a lot of confusion regarding what to hold onto and how long to keep each item. If you feel confused about this obligation as an employer,...
by Nolan Accounting | Nov 7, 2019 | Tax Laws
The Internal Revenue Service (IRS) passed legislation in 1986 called the Kiddie Tax Law to prevent parents with a high net worth from transferring the reporting of interest earned on investments to their children. Parents sometimes took this action to avoid or lower...
by Nolan Accounting | Oct 22, 2019 | Expenses, Small Business Accounting
The Internal Revenue Service (IRS) recommends that business owners keep good records for a variety of reasons. Maintaining timely and accurate records allows the business to monitor its progress and success, identify where income comes from, track expenses the company...
by Nolan Accounting | Oct 4, 2019 | Small Business Accounting
A 2014 fraud report prepared by the Association of Certified Fraud Examiners (ACFE) revealed statistics that should concern every small business owner. While payroll fraud is a huge problem affecting approximately 27 percent of businesses nationwide, small businesses...
by Nolan Accounting | Sep 19, 2019 | Small Business Accounting
It’s common for new small business owners to assume they don’t need an accountant because the company is small enough for them to handle everything on their own. However, just because someone has strong business skills in starting and expanding a business...
