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For most businesses, the end of a year is a busy time.  It's important that you get your business off to a good start in the new year by closing the books on the prior year and preparing and filing the 1099 forms by the end of January.

  • Tax planning for losses is important - so if you think your S corporation will show a loss for 2014, now's the time to plan to make sure you'll get the full tax benefit.  Basis will play a major factor.

  • Facebook Announces Hashtags – How It Can Help Your Business?

  • Fraud can crippling your business.  One o fthe largest forms of fraud is Embezzlement.  Embezzelment often is considered the worst form of fraud because the crime is being committed by a trusted employee.  Embezzelment is a real danger and often goes undetected for long periods of time before discovery.  Some embezzelment never gets detected.

  • Almost every business today relies on computers to operate.  When your servers go down, your productivity comes to a screeching halt.  Downtime equals lost profits, employee frustration and inconvenienced customers.

  • Are you starting a new business or new venture and need money to fund it?  You might want to check into an online option known as "crowdfunding."  In simplest terms, crowdfunding means many people (the crowd) give you money to fund your venture in exchange for a reward such as a free copy of your product or a small stake in your new business.  As accountants, we were interested in how to treat this money in terms of tax treatment.  Is it an investment in your business? A gift? Taxable income?

  • For many small businesses the prospect of going global is considered a pipe dream, but this shouldn’t necessarily be the case. The United States lags behind other developed countries in exports. The U.S. government estimates that less than 1 percent of all 30 million U.S. companies export. However, when you look into the export numbers more closely, you discover that small businesses make up more than 70 percent of U.S. exporters.

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By Dugan Lopatka - Accountants for Midsize Businesses in Chicago:  CPAs for Small Businesses

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Dugan & Lopatka, CPAs, PC, 104 E. Roosevelt Road, Wheaton, Illinois 60187 -MAP- T: (630) 665-4440 Fax: (630) 665-5030