News & Resources

Top Small Business Trends (Part II)

By: Steven StraussOne of the best things about being in business today (or worst, I suppose, depending upon your point of view) is that it is always changing; not only do you need to be …

January 3, 2014

IRS announces standard mileage rates for 2014

Businesses and individuals who rely on the IRS's standard mileage rates to calculate deductible vehicle expenses will see a slight decrease in the deduction next year. The cents-per-mile rate is based on the costs of …

January 2, 2014

Data security

Article courtesy of SBAM Approved Partner VeracityThe recent data breach at Target stores, where credit and debit card data for about 40 million customers was accessed, has banks and processors reemphasizing the all-important aspect of …

December 30, 2013

Steven Strauss – Top Trends for 2014 (Part 1)

By Steven StraussMerry Christmas, happy holidays, Happy New Year, and all other appropriate greetings and huzzahs! It is that time of year when no one is working except your intrepid small business columnist. And it …

December 23, 2013

Profit from international trade. Insights today on Business Next

How to “go global” to boost your opportunities for international trade and small business success. Interview with business consultant and author Patrick Dine.Listen Monday at 10-11 a.m. ET (replay at 3 p.m., 8 p.m. and …

December 13, 2013

IRS allows $500 carryover for unused healthcare FSAs

Article courtesy of SBAM Approved Partner AdvanceHRFlexible spending accounts (FSAs) recently became a little more flexible. That's because the IRS modified its "use or lose" rule, which returns any unused FSA balances back to employers …

December 9, 2013

The state legislature makes it easier to crowdfund your next small business idea. Today on Business Next.

On this week’s small business legislative update, SBAM’s Director of Government Relations Dave Jessup talks about the legislature’s approval of a measure that makes “crowdfunding” financing easier for small businesses. Also today, excerpts from a …

November 26, 2013

Gearing up for next year’s tax season

The IRS has announced that there will be a one or two week delay in the start of the 2014 tax season (for 2013 returns), due to the recent 16-day government shutdown. This article explains …

November 26, 2013

Fraud doesn’t take a holiday: Beware of card testing

If your business or non-profit organization accepts payments from a payment gateway or eCommerce site, you may be exposed to a new form of merchant account fraud called card testing. Unfortunately, there is no fail-safe …

November 21, 2013

Year-end tax planning strategies for small businesses

Set aside some time in the midst of the upcoming holiday bustle to examine the tax situation of your business. With a few maneuvers, you can reduce the amount of money your business owes for …

November 7, 2013

Intrapreneurship

By Steven StraussQuestion: I was wondering if you had any tips on how our business could be more entrepreneurial? We have been around for a long time, have about 25 employees, and so we are …

October 7, 2013

Write off business-related vehicle expenses

There are two basic ways to write off expenses for a vehicle you drive for business purposes. However, the one method that generally provides a bigger deduction requires more recordkeeping. Question: I'm using my personal …

October 1, 2013

Top 10 fraudulent transaction red flags

By Anne Heraghty, Veracity Payment SolutionsData breaches aren’t the only way merchants experience fraud. During busy times — like the run-up to the holiday season — it's easy for merchants and sales staff to overlook …

September 25, 2013

A closer look at home office deductions

Article courtesy of SBAM Approved Partner AdvanceHRWorking from home has its perks. Not only can you skip the commute, you also might be eligible to deduct home office expenses on your tax return. Beginning in …

September 24, 2013

Questions and answers about overtime

The definition of exempt employees and the rules governing overtime pay are complex. If your business misclassifies employees or fails to pay overtime to nonexempt employees, you could owe substantial fines and back wages. To …

September 16, 2013

IRS notifications and rulings that target small businesses

Article courtesy of SBAM Approved Partner AdvanceHRThe IRS loses billions of dollars a year from taxpayers who don't pay what they owe on time. Now, the tax agency is on the hunt to find merchants …

September 5, 2013

How to protect against tax identity theft

Article courtesy of SBAM Approved Partner AdvanceHRTax identity theft is a growing epidemic. Congress put the IRS Deputy Commissioner on the hot seat this summer -- and ultimately gave the tax agency a failing grade …

September 4, 2013

How to make sure your retail business is safe and secure! Advice today on Business Next

Tune in today at 10am (repeats at 3pm and 8pm) on the Michigan Business Network.Liz Martinez, author of The Retail Manager's Guide to Crime and Loss Prevention, talks about detecting counterfeit money, preventing refund fraud, …