President Obama signed the 2010 Small Business Jobs Act into law on September 27, 2010.  In addition to expanding loans through the Small Business Administration (SBA), encouraging small businesses to bid for federal contracts and providing incentives for exporters, the Act also provides numerous tax provisions and incentives for small businesses. Some of the important [...]

Healthcare reform legislation enacted in March includes a standard which changes the reimbursable expenses under medical flexible spending accounts, health reimbursement arrangements and health savings accounts. 
Effective for purchases made on or after January 1, 2011, the cost of over-the-counter medicine or drugs cannot be reimbursed from these accounts unless a prescription is obtained.  Other medical [...]

The Health Care Reform law is going to change more than just Health Care.  Millions of small businesses will be burdened with new 1099 filing requirements.  The new requirement is to issue Form 1099 to every vendor from which a small business purchases over $600 of goods during a calendar year.  The requirement use to [...]

After attending the State Taxation of Multistate Business Conference, there are a few areas I want to make everyone aware of that will affect planning for businesses.  Bruce Nelson, a CPA from Colorado, started the conference with his session titled Chaos Compounded by Confusion.  The title referred to the different revenue streams for the state; [...]

Yesterday I attended a Franchise seminar that we hosted regarding exit strategies for Franchisees.  The seminar was co-sponsored by Olsen Thielen and UBS Financial Services.  The key speaker was Scott Husaby from Krass Monroe.  The seminar was geared towards helping Franchisors understand the importance of making sure their Franchisees have exit strategies in place.