Small businesses have had to face numerous challenges in recent years, including new laws designed to protect workers in certain states. For example, Illinois recently passed several laws to support workers, like an increased minimum wage and mandatory paid leave. Small business owners largely agree that these laws are beneficial for employees, who certainly deserve…
A Dayton, Ohio, entrepreneur who ran an ice cream business from a Tesla Cybertruck was recently forced to shut down operations due to vandalism to his vehicle. Daniel Herres is the owner of Cyber Cream Dayton. He recently posted about the vandalism incident on his business’s Facebook page. His Facebook post read, in part, “It…
Andrew Park, a New Hampshire resident and former CEO of a startup technology company, has pleaded guilty to evading over $14 million in payroll taxes and failing to file personal tax returns. Park, 49, from Bedford, was responsible for the company’s financial matters, including filing quarterly employment tax returns and managing federal, state, and local…
The IRS is urging taxpayers who requested an extension to file their taxes to utilize IRS Free File and other resources on IRS.gov over the summer rather than waiting until the October deadline. By doing so, taxpayers can avoid the rush and potential stress as the deadline approaches. The IRS Free File service is available…
The U.S. Small Business Administration (SBA) is alerting small businesses, agricultural cooperatives, aquaculture enterprises, and most private nonprofit organizations that the deadline to apply for federal working capital loans is fast approaching. These loans are for those impacted by the tornado and heavy rains that began on July 2, 2023. Applications must be submitted by…
Amazon has announced that Prime Day 2024 was its most successful Prime Day event ever, breaking sales records with more items sold than any previous year. During the two-day event, Prime members worldwide took advantage of deals across more than 35 categories, saving billions of dollars. The event saw an increase in the number of…
The Treasury Department and the Internal Revenue Service (IRS) have issued updated guidance on required minimum distributions (RMDs) from Individual Retirement Accounts (IRAs) and other retirement plans. These final regulations, which align closely with the proposed rules from 2022, reflect changes introduced by the SECURE Act and the SECURE 2.0 Act. The updates affect retirement…
The U.S. Small Business Administration (SBA) has amended its disaster declaration for Texas, making low-interest federal disaster loans available to specific private nonprofit organizations in Bailey County. This follows President Biden’s May 23 major disaster declaration due to severe storms, straight-line winds, tornadoes, and flooding from April 26 to June 5. Administrator Isabella Casillas Guzman…
Artificial intelligence is a source of both excitement and anxiety for many small businesses. One business in Michigan is currently showing what’s possible, while also leaving many unanswered questions about the future. LaFleur Marketing in Grand Rapids, Michigan, first started using several AI tools last year. The goal, according to CEO Chip LaFleur, was to…
Many of the current headlines surrounding small business owners signal doom and gloom. For example, many are pessimistic about their company’s outlook for the coming year, concerned about inflation, or even closing due to rising rent and other expenses. But even with all of these hardships, a recent survey suggests that nearly all small business…