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Which fringe benefits are tax-free to employees?

Which fringe benefits are tax-free to employees?

To attract and retain skilled workers, your small business needs to offer more than competitive pay. Your benefits package matters, too — and benefits with favorable tax treatment can be even more valuable to prospective and existing employees. Open enrollment is...
Debits and credits: A practical guide for business owners

Debits and credits: A practical guide for business owners

Accurate books start with a basic understanding of how financial transactions flow through your accounts. Today’s accounting platforms automate much of the double-entry process, making bookkeeping faster and more efficient. But even with increasingly sophisticated...
Let’s trade! Business bartering is still taxable

Let’s trade! Business bartering is still taxable

Trading items or services — without exchanging cash — has long been common among small businesses. Today, some use online barter exchanges to facilitate trades. In addition to preserving cash flow, these types of transactions may expand your purchasing power, help you...
A closer look at shareholder advances

A closer look at shareholder advances

Shareholders sometimes provide funds to their businesses outside of their initial investment or regular capital contributions. These transfers — commonly referred to as shareholder advances — raise an important accounting question: Under U.S. Generally Accepted...