Top stories for you from Barbara this past month:

Employers on the Cusp of Being Large: What to Do Now for ACA

Are you an applicable large employer (ALE) subject to the employer mandate under the Affordable Care Act (ACA)?

If you have 10 employees, you know you're not, but if you are nearing the critical number of 50, you need to understand what this term means, whether it applies to you, and what the obligations of being an ALE are.
Mileage Tracking for Greater Tax Savings

Likely you've already amassed the records needed for tax return preparation this year. Perhaps you've seen that there have been missed opportunities for greater tax savings because you didn't have the necessary records to take what are otherwise legitimate write-offs. It's not too late to take action now that will favorably impact your tax savings for 2016 and for years to come.

SEPs: IRA-Based Retirement Plans that Aren't IRAs

As qualified retirement plans go, a SEP, which stands for Simplified Employee Pension, has a lot going for it. You can save substantial sums and take large deductions for contributions, assuming your earnings are high. You don't have to file any annual information returns with the Department of Labor as you do for profit-sharing plans and 401(k)s. And you can set up and fund the plans as late as the extended due date of your return. But just because a SEP looks and feels like an IRA, the tax law doesn't treat it as such in some respects. Here's a rundown of when SEPs are treated like IRAs, and when they're not. Whether they're treated like IRAs may be favorable or unfavorable, depending upon the issue involved.

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Hiring Challenges: The Real Story

According to Wasp Barcode's State of Small Business Report, which was released late last month, 50% of small business owners said that hiring was their greatest challenge. It's unfortunate that owners feel this way. I think there are some factors that may help with hiring now.
What Perks Do You Offer?

A survey by Glassdoor looked at 50 fringe benefits offers by employers and found some surprising as well as not so surprising results. 

The big takeaway is that benefits are very meaningful to employees; more than half (57%) of responders listed benefits and perks at their top consideration in accepting a position.
Office Romances: What Can and Should You Do About This

As we approached Valentine's Day, many of our thoughts turned to hearts and flowers. But it's also a time to think about the implications of office romances. They're bound to occur as many of us spend umpteen hours at work. Unfortunately, romances can sour, resulting in some not so romantic results. Here are some of the concerns for business owners, and what they can or should do.

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Super Bowl 50 and Office Pools 

Betting this year on the outcome of Super Bowl 50 was expected to reach $4.2 billion (up from $116 million last year). Are office pools good or bad for your business? It's not entirely clear. The majority of employers believe that office pools are good for morale and foster teamwork; but more than a third say that office pools impede productivity. Where do you stand? Here are some factors to consider.
What the President's Budget Proposals Mean for Small Businesses 

The President released his proposals for the government's 2017 fiscal year. The budget includes new spending as well as new revenue ideas. It would raise $2.8 trillion in revenue over the next 10 years. While these are only proposals, and the Republican-controlled Congress is unlikely to adopt most of the proposals, some may become law (17 proposals from the FY 2016 budget) and it is helpful to understand which ones would affect small businesses. Some of the proposals appear to be helpful to small businesses, while many others are not. You judge for yourself.
 
J.K. Lasser's Small Business Taxes 2016

Tax season is here, and the expert help you need is here, too! And, to stay updated with the latest changes, see the FREE supplement on my website. 

Why overpay on your small business taxes? The answers to your questions and practical tips to help you prepare your 2015 tax return are covered in this book. And, for year-round tax planning, you'll definitely want this helpful resource. 
Depositing Your Employees Withholdings

As an employer, when you withhold income taxes or other funds from employees' paychecks, you're obligated to apply the funds appropriately in a timely manner. If you fail to do so, you can be severely penalized. Understand your deposit responsibilities, the consequences of failing to adhere to them, and what you can do to ensure you're doing the right thing.
Will Small Businesses Be Forced to Offer Retirement Plans?

Qualified retirement plans are among the top five fringe benefits that employees value on the job. Yet, according to a 2009 report from the SBA's Office of Advocacy, 72% of workers in companies with fewer than 100 employees had no retirement plan option at work .... But things are changing, and small businesses may be coerced, or at least incentivized, to offer a retirement plan to their employees. Here is what's happening.
Top 20 Tax Deductions for Small Businesses

On Wall Street there's a saying that past performance is no guarantee of future results. When it comes to taxes, however, past performance is a great indicator of the types of deductions that businesses typically take each year. 
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March, 2016 | Copyright ©Big Ideas for Small Business, Inc.