Federal Legislation to Help Small Businesses

Much that’s happening in Congress has been focused on multinational corporations and billionaires because a number of proposals that would have targeted small businesses has been dropped. Nonetheless, if enacted, Build Back America and the infrastructure bills will impact small businesses. What’s more, there is other pending legislation in Congress that may have a direct effect on small businesses.

Can or Should You Use Noncompete Agreements

Noncompete agreements are legal contracts between a business and another person—typically an employee or independent contractor—to bar a worker to compete with the business. Noncompete agreements may also be used by a business to bar a person who sold his or her interest in it to go into a new business in competition with the former one. Noncompete agreements are common, but they are increasingly coming under pressure from some state and local governments.

3 Benefits of Hiring an Accountant Instead of Doing it Yourself

It’s worth noting that not all accountants hold the same qualifications. A Certified Public Accountant (CPA) is an accountant that has passed a specific exam and completed a range of coursework across a three-year course. As a result, if you hire a CPA, you can be assured that their work is up to a certain standard. Additionally, they are the only ones able to complete specific tasks, such as preparing an audited financial statement, so make sure to choose the right accountant for your needs.

Need a Business Vehicle? Tax Considerations to Factor into Your Choices

Are you thinking about getting a car, truck, or van now? Hybrid or electric-powered vehicle? Buy or lease a vehicle? And in who’s name (the owner or the business)? Your choice is usually based on business needs, fuel efficiency, your budget, financing options, and insurance costs. But whatever choice you make affects your taxes, which ultimately impacts your bottom line.

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