Small Business - Business Management Company

How the Social Security wage base will affect your payroll taxes in 2026

November 17, 2025 / by Brett Hess / Small Business

The 2026 Social Security wage base has been released. What’s the tax impact on employees and the self-employed? Let’s take a look. FICA tax 101 The Federal Insurance Contributions Act (FICA) imposes two payroll taxes on wages and self-employment income — one for Old-Age, Survivors, and Disability Insurance, commonly known as the Social Security tax, […]

Writing an AI governance policy for your business

November 11, 2025 / by Brett Hess / Small Business

Artificial intelligence (AI) is changing the way businesses operate. Its capacity to gather and process data, as well as to mimic human interactions, offers remarkable potential to streamline operations and boost productivity. But AI presents considerable challenges and concerns, too. With so many tools available, employees may inadvertently or purposely misuse the technology in ways […]

Review your business expenses before year end

October 30, 2025 / by Brett Hess / Small Business

Now is a good time to review your business’s expenses for deductibility. Accelerating deductible expenses into this year generally will reduce 2025 taxes and might even provide permanent tax savings. Also consider the impact of the One Big Beautiful Bill Act (OBBBA). It makes permanent or revises some Tax Cuts and Jobs Act (TCJA) provisions […]

Is Your Company’s Pricing Still Working?

October 17, 2025 / by Brett Hess / Small Business

Pricing is one of the most powerful tools a business owner has to make sure their company is profitable. If you set prices too low, you’re missing out on money you could be making. Set them too high, and customers might go to a cheaper competitor. Your goal is to find the “sweet spot”: prices […]

Tax Court case provides lessons on best recordkeeping practices for businesses

September 23, 2025 / by Brett Hess / Small Business

Running a successful business requires more than delivering great products or services. Behind the scenes, meticulous recordkeeping plays a crucial role in financial health, compliance and tax savings. Good records can mean the difference between successfully defending a deduction and losing valuable tax breaks. A recent U.S. Tax Court decision underscores just how important this […]

How businesses can fund a buy-sell agreement

September 9, 2025 / by Brett Hess / Small Business

Businesses with more than one owner benefit from having multiple viewpoints and varying skill sets. However, they also face serious risks of uncertainty and conflict if one of the owners suddenly departs or undergoes a major life change. A carefully crafted buy-sell agreement can guard against these risks — if it’s securely funded. Transfer guidelines […]

Unlocking Growth: Your Crystal Ball for Business Decisions

August 6, 2025 / by Brett Hess / Small Business

Ever stare at your P&L, wondering if now’s the time to expand your team or invest in that game-changing equipment? You’re not alone. Many business owners grapple with these big decisions, often feeling like they’re flying blind. I recently worked with a client facing this exact dilemma. They wanted to grow but weren’t sure if […]

Are You Undercutting your Profits? One Business Owner’s Overhead Revelation!

August 6, 2025 / by Brett Hess / Small Business

Ever wonder if you’re truly pricing your jobs for maximum profit? Many business owners I meet struggle with the exact same question, unsure if their overhead calculations are accurate. I recently worked with a client who was in this exact predicament. They were estimating jobs based on assumptions, and it was keeping them up at […]

The new law includes favorable changes for depreciating eligible assets

July 25, 2025 / by Brett Hess / Small Business, Tax

The One Big Beautiful Bill Act (OBBBA) includes a number of beneficial changes that will help small business taxpayers. Perhaps the biggest and best changes are liberalized rules for depreciating business assets. Here’s what you need to know. 100% bonus depreciation is back The new law permanently restores 100% first-year depreciation for eligible assets acquired […]

Safe harbor 401(k)s offer businesses a simpler route to a retirement plan

July 7, 2025 / by Brett Hess / Small Business

When many small to midsize businesses are ready to sponsor a qualified retirement plan, they encounter a common obstacle: complex administrative requirements. As a business owner, you no doubt already have a lot on your plate. Do you really want to deal with, say, IRS-mandated testing that could cause considerable hassles and expense? Well, you […]

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