How to survive inflation as a small business owner
Unfortunately, small businesses don’t come with a one-size-fits-all manual. Everyone is different, even if the problem is the same or similar.
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What is a fractional CFO?
The average CFO in America makes over $200,000 per year. Luckily, a “fractional CFO” is becoming a popular trend, which means that you can pay a fraction of the cost. So what does a fractional CFO actually do? A CFO is in charge of financial development and growth strategy, as well as managing IT and … Continue reading What is a fractional CFO?
IRS Adjusts Tax Brackets and Raises Standard Deductions
On October 18, the IRS announced adjustments to tax brackets to fight rapid inflation. 60 tax provisions will be updated to counter those rising costs, including standard deductions for single and married filers, the IRS said. For married couples this will increase to $27,700, and for single filers, it will be $13,850. Heads of household … Continue reading IRS Adjusts Tax Brackets and Raises Standard Deductions
Treasury Announces Plan to Boost Small Businesses in Several States
On October 11, the Treasury announced eleven additional states to receive up to $1 billion from the U.S. Treasury Department to promote small business growth and entrepreneurship through the American Rescue Plan. These states are Alaska, Idaho, Iowa, Massachusetts, Minnesota, Missouri, Nebraska, Nevada, New Mexico, Ohio, and Utah. The Secretary of the Treasury said, “This … Continue reading Treasury Announces Plan to Boost Small Businesses in Several States
2022 Health Savings Account Limits
The savings limits for the ever-popular health savings accounts (HSA) are set for 2022. The new limits are outlined here with current year amounts noted for comparison. So plan now for your contributions. What is an HSA? An HSA is a tax-advantaged savings account whose funds can be used to pay qualified health care costs … Continue reading 2022 Health Savings Account Limits