Top

Category: Legal


Legal

SBA Launches Enhanced Equity Action Plan to Bolster Small Business Growth and Economic Equity

February 19, 2024

Via: Small Business Trends

Isabel Casillas Guzman, the U.S. Small Business Administration (SBA) Administrator, has unveiled an updated Equity Action Plan in a bid to foster inclusivity and economic opportunity. This initiative is set to transform the landscape for America’s 33 million small businesses […]


Legal

What is an H-1B Visa?

February 7, 2024

Via: Small Business Trends

The H-1B visa is a non-immigrant visa category in the United States, allowing U.S. employers to hire foreign workers in specialty occupations temporarily. These occupations typically require specialized knowledge and skills, often in fields such as technology, science, engineering, mathematics, […]


Legal

Guide to Filing Business Taxes

January 29, 2024

Via: CO

As a business owner, understanding your federal, state, and local taxes is vital to your overall success. Knowing how and when to file reduces time spent navigating IRS forms — and helps you remain in legal compliance — so you […]


Legal

Tax Deductions for Small Businesses

January 29, 2024

Via: CO

Small business owners have no shortage of responsibilities: marketing, payroll, HR, IT services, and more. For busy entrepreneurs, especially those not well-versed in the financial sphere, tax season may feel daunting. Fortunately, small business owners are often eligible for several […]


Legal

IRS Issues Guidance on Emergency Savings Accounts for Employees

January 24, 2024

Via: Small Business Trends

The Internal Revenue Service (IRS) has released initial guidance to assist employers in implementing pension-linked emergency savings accounts (PLESAs). This development follows the authorization of PLESAs under the SECURE 2.0 Act of 2022, aimed at encouraging employees to save for […]


Legal

Treasury and IRS Delay Reporting Requirements for Digital Asset Transactions

January 24, 2024

Via: Small Business Trends

The Treasury Department and Internal Revenue Service (IRS) have announced a transitional phase in the implementation of new reporting rules for small businesses dealing with digital assets. This move grants temporary relief to businesses from the stringent reporting requirements for […]


Legal

Charting the Course: A Guide to Probate in Florida

January 19, 2024

Via: Small Biz Club

Losing a loved one is never easy. Amidst the grief, the legalities of settling their estate can feel overwhelming, especially in a complex legal landscape like Florida. Imagine Carlos, a young architect in Miami, grappling with the sudden loss of […]


Legal

SBA Announces Support Measures for PPP and COVID EIDL Borrowers

January 16, 2024

Via: Small Business Trends

The U.S. Small Business Administration (SBA) has taken steps to assist small businesses grappling with the challenges of loan compliance and repayment in the wake of the pandemic. In a move aimed at bolstering the financial health of small enterprises, […]


Legal

New Fed Reporting Law for Corps. and LLCs Starts Jan. 1

December 26, 2023

Via: Small Biz Club

Beginning January 1, 2024, new rules require some businesses to share ownership details with the U.S. government. This rule, called the Corporate Transparency Act (CTA), applies to companies filing reports with FinCEN, the Financial Crimes Enforcement Network. However, since the […]


Legal

IRS Cracks Down on Dubious Employee Retention Credit Claims

December 20, 2023

Via: Small Business Trends

To ensure the integrity of the Employee Retention Credit (ERC) program, the Internal Revenue Service (IRS) is initiating a comprehensive crackdown on erroneous claims. More than 20,000 disallowance letters are being sent out to taxpayers with disallowed ERC claims. This […]


Legal

How to Trademark Digital Assets

December 18, 2023

Via: CO

Digital assets, which range from conventional documents and media files to cutting-edge technologies like non-fungible tokens (NFTs), are becoming increasingly vital to business functionality and branding. The importance of understanding and protecting these assets through trademarks is more significant than […]


Legal

IRS Announces 2024 Mileage Reimbursement Rate; Now 67 Cents a Mile

December 14, 2023

Via: Small Business Trends

The Internal Revenue Service (IRS) has released the standard mileage rates for 2024, reflecting an adjustment in the reimbursable costs of operating an automobile for different use cases. The new rates show an increase from the previous year, adapting to […]


Legal

Intuit Accountants Tax Preparation for 2023 has Comprehensive Product Updates

November 20, 2023

Via: Small Business Trends

Intuit Accountants has announced significant updates to its suite of tax preparation products aimed at the 2023 tax year. These enhancements to Intuit Tax Advisor, Intuit ProConnect Tax, Intuit Lacerte Tax, and Intuit ProSeries Tax are designed to streamline workflow […]


Legal

What to Look for When You Need a Law Firm

November 15, 2023

Via: Small Biz Club

Let’s face it, no person or business gets a thrill out of hiring a law firm. Fortunately, peer-reviewed rankings have simplified the process. Best Lawyers, which has been tracking trends and innovations in the legal industry for more than four […]


Legal

The SBA Bolsters Capital Access for Marginalized Small Businesses

November 1, 2023

Via: Small Business Trends

The recent announcement at the Opportunity Finance Network (OFN) annual conference revealed the U.S. Small Business Administration (SBA) has permanently instated the mission-lending Community Advantage Program. This follows the introduction of 143 Community Advantage Small Business Lending Companies (CA SBLCs), […]


Legal

IRS Urges Small Business Tax Preparers to Renew PTINs for 2024 Filing Season

October 31, 2023

Via: Small Business Trends

The Internal Revenue Service (IRS) has issued a reminder to the approximately 800,000 active tax return preparers about the importance of renewing their Preparer Tax Identification Numbers (PTINs) ahead of the 2024 filing season. Why PTINs Matter to Small Businesses […]


Legal

Federal 8(a) Business Program Back in Business

October 25, 2023

Via: Small Business Trends

The U.S. Small Business Administration (SBA) has reignited its commitment to the 8(a) Business Development Program, a vital initiative established to assist socially and economically disadvantaged small business owners. This move comes after a recent U.S. District Court decision that […]


Legal

Urgent Tax Update for Small Business Owners: Important Deadlines Approaching

October 10, 2023

Via: Small Business Trends

The Internal Revenue Service (IRS) reminded small business owners of the imminent tax filing extension deadline. If you’re among the millions who requested an extension to file your 2022 tax return, you must submit your Form 1040 by Monday, Oct. […]


Legal

How to Change Your Sole Proprietorship to an LLC: 6 Easy Steps

October 5, 2023

Via: Small Business Trends

Many small businesses get their start as a sole proprietorship. After all, it’s the default business structure. If you’re a single business owner and never filed any official formation paperwork with the state, then you’re operating as a sole proprietorship. […]


Legal

What is COPPA and How Does It Affect How You Promote Your Business?

September 27, 2023

Via: Small Business Trends

Small businesses beware: If you run a website, an online service or a mobile app that collects information from children under the age of 13, you could be liable for hefty fines if you don’t comply with the Children’s Online […]