As a small business owner, you’re often preoccupied with all the things that go into running your Hampton Roads business – the daily logistics, managing employee workflow, paying the bills, bringing in more customers… making a profit. Let’s focus on that last one, shall we? Good. Profits are the lifeblood. And the P&L is probably…
In the arena of not-so-good news, along with so many other things these days, it looks like IRS interest rates have gone up for Quarter 3. Inflationary insults to injury for Hampton Roads business owners. These days are getting tougher. Hang in there. Now … the one bright spot in this is that we truly can help your…
Every Hampton Roads business owner in today’s inflationary environment is looking for ways to economize and improve: overhead expenses, workload, staffing needs, office space, supply chains, etc. It all feels stretched. We’re *all* feeling it, even here in Hampton Roads. So it might creep into your lizard brain that the basic function of “paying your…
Everywhere I turn there’s a Hampton Roads business with a “Now Hiring” sign in the window. Are you seeing this too? Staffing is an issue in every industry across the country. Part of that? Making money isn’t the only reason people want a job. 2020 certainly shifted priorities. Even if you could throw more money…
Did you know that about 20% of small businesses fail in their first year? That’s a daunting statistic for anyone starting a new Hampton Roads business. And, even scarier, is the reality that companies with owners younger than 30 are even more likely to tank. The especially high failures of young owners indicate that inexperience coupled with the various…
Yes, inflation isn’t slowing down, even here in Hampton Roads. Though it’s not the main thing I’ll be writing about today, I did want to point out this economic elephant in the room for my Norfolk business owner readers and clients, and not just speed on by and into my accounting geekery. One thing is clear…
With the increased standard deduction this past year ($12,400 single, $24,800 married filing jointly, $18,650 head of household), some smaller charities began to see a decrease in donations. This year might be worse. Yes, I hate to be the one to say these things, but I’m also privy to the books and financials for a…
Everybody keeps saying we’re slowly leaving the pandemic behind – and for Hampton Roads businesses, that means that pandemic tax relief is disappearing, too. But can you still qualify for one of the most popular of the Covid-related federal breaks: the Employee Retention Credit (ERC)? Here’s the deal: you have likely heard from friends or…
Tax “season” is over – at least for most of us. For all of the tax-exempt organizations out there operating on a calendar year basis, just a little nudge regarding the May 16th filing deadline. We’re here to help. Now, however, despite the relief that comes with the passing of the personal income tax filing…
Apparently, it is National Small Business Week. And while I tend to think these kinds of “national weeks” or days, or what have you, are often pretty silly … well, as someone who has been in the trenches with the SMB community over the last few years, I could not be prouder of my Hampton Roads SMB clients. I know how…