Stepping into retirement is not only about finances but also about redefining your identity. After years of work, it is natural to imagine long, relaxing days without a set schedule. While this vision can feel appealing, it sometimes leads to a lack of preparation.
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If you plan to hire employees, operate as a corporation or partnership, or file specific types of tax returns — such as employment or excise or for industries such as alcohol and tobacco — you'll need an EIN.
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Starting in November 2025, all NEW QuickBooks ONLINE Payroll subscriptions will have the automated taxes and forms feature enabled as a mandatory setting.
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Child and dependent care costs can take a big bite out of your budget. To help ease the load, the IRS offers a tax credit for qualifying care expenses incurred while you (or your spouse, if filing jointly) are working or looking for work.
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Small-business owners should recognize this sometimes-overlooked fact: Success often relies less on acquiring new funding and more on wisely utilizing existing resources. In other words, growth for its own sake isn't always good business. By monitoring expenses, reevaluating pricing, and analyzing which products or services truly deliver value, you can strengthen your bottom line and maintain flexibility for the future.
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The Internal Revenue Service has issued a release explaining changes in retirement plan limits for 2026. The linked article is a summary of this release. The provisions can be complex, so current and prospective plan participants should work with a financial professional.
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If you offer gifts or money to qualified organizations eligible to receive tax-deductible charitable contributions, you need to make sure you are completing all the necessary steps in the process.
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Running a nonprofit is hard work. It also can be rewarding. So it is important to understand the benefits, such as tax-exempt status, when you’re preparing to launch a community, charity, or nonprofit organization. Establishing a tax-exempt nonprofit isn’t easy, and you may be wondering how aspects of these tax rules apply to your nonprofit. A lot of moving parts need to be handled, and they are best handled by professionals.
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Many businesses have experienced fraud first-hand. Those who survived the theft are quick to implement accounting controls. Weak controls allow fraud to penetrate and persist in companies undetected for years. By using some of the tools in QuickBooks and implementing the appropriate controls around cash, your business has a better chance of success.
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Due diligence is an investigation, an audit or a review performed to confirm facts or details of financial records. The objective is to confirm accuracy and appraise value. Audits often help uncover issues and avert potential ones in the future. When you outsource accounting, you're allowing an in-depth analysis of your company's financial records by another company.
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