SJG Blog
Why Now Might Be the Best Time to Buy a Business?
Wealth managers and financial industry observers have pointed out that we are in the midst of a great wealth transfer driven by Baby Boomers. As Boomers (the generation born between 1946 and 1964) have aged, the savings and investments they worked hard to accumulate are now passing via inheritance to
Unlocking Retirement Savings to Fund a New Business
Many people have dreams of starting a business but lack the capital or funding needed to launch their new business ideas. It’s true: It costs money to start a business. The US Small Business Administration (SBA) says that how to fund a business is one of the first — and
Small Businesses Eligible for 401(k) Tax Credits
The Securing a Strong Retirement Act of 2022 (SECURE Act 2.0), passed in March 2022, expanded efforts to help Americans achieve retirement savings security. The bill sought to further remove obstacles to saving for retirement, including a lack of access to employer-sponsored plans. To incentivize employers to open new 401(k)
Do You Need a Virtual CFO?
Every company must find an efficient way of handling accounting and bookkeeping functions. For many businesses, an outsourced accounting solution makes good business sense and provides much needed support with financial management. Some businesses and high net worth individuals will want to take their financial operations to another level and
ERTC Enforcement and Withdrawing a Claim
The Employee Retention Tax Credit (ERTC) was introduced during the COVID-19 pandemic as a tax incentive for businesses to keep employees on their payroll. To qualify, a business must have suffered financially or experienced operational disruptions because of COVID restrictions. Even though it has since expired, it’s still possible for
IRS Plans to Scrutinize Wealthy Taxpayers in Major Compliance Push
With the Inflation Reduction Act of 2022 allocating substantial funding to the Internal Revenue Service (IRS) for tax enforcement activities, the IRS has made no secret that it will scrutinize high wage earners, wealthy taxpayers and corporations in a new compliance push. The agency is expected to hire scores of
Featured Posts
IRS Form W-9 Best Practices
Which Business Financial Records Should I Keep? And For How Long?
