One of the many risks business owners face is one that rarely comes to mind—but could put your business in a dangerous position. We’re talking about trademark protection for your intellectual property. A trademark is a word, phrase, name, or symbol that identifies the source of a product or service and distinguishes it from competitors. You can trademark your company name, product names, logos, and taglines.

Running a Business Without Trademark Protection

Without the protection of a federally registered trademark:

• Your company or product name could be stolen. Without trademark ownership, it’s easier for […]
  

Businesses of all sizes and industries have been put through the proverbial ringer in 2020. No one could have foreseen the toll the coronavirus would take on entrepreneurs from independent contractors to C corporations and everyone in between. One positive thing, however, is the tax deadline has been pushed to July 15, 2020. That means there’s still time to learn about the tax issues based on your business entity and take advantage of some tax savings on your 2021 return, no matter what your legal structure.

Sole Proprietorship

In a sole proprietorship, there is […]

With tons of misinformation swirling out there, you may be afraid of making a crucial mistake when it comes to applying for and receiving CARES Act relief funding. Here are 10 mistakes to avoid.

Application Mistakes

1. Not Being Prepared

Any delay in your application could mean your business gets bumped to the bottom of the list. Have on hand:

• Basic business and contact information
• Average monthly payroll costs including employee salaries, wages, and commissions; payment of cash tips; payment of vacation; parental, family, medical or sick leave, insurance premiums, etc.
• 2019 Tax Forms (all […]
  

How are we nearing mid-year already? If you’re like me, the current business climate has been a whirlwind of trying to keep up on new information, planning for post COVID-19 recovery, and still maintaining running our business operations. Now that we’re approaching the mid-way point of 2020, we think it’s a good time to remind you there are some deadlines you need to keep an eye on and important decisions yet to make.

Business Taxes

The tax deadline has been pushed to July 15, 2020 which gives individual and business taxpayers more time to […]

There are more advantages to the CARES Act than just relief funding that can help your small business save money and those come in the form of tax breaks. Although most of the breaks are temporary, it’s important to take advantage of all that’s being offered to business owners now, so your company has the best chance of coming out of the pandemic healthy and if not profitable, at least in recovery mode.

Here are nine tax breaks and benefits you and your employees can take advantage of today.

Tax Benefits For Your Business

1. […]

Does your business have to file a Texas annual report and pay franchise tax? Report filing requirements in Texas vary according to the type of business entity, so the answer to that question is, “It depends.”

In this article, I’ll list the different annual reports that businesses may need to submit to the Texas Comptroller’s office by the May 15 deadline of each year. I’ll also cover the basics of the Texas franchise tax, which must also be reported and filed by May 15.

Please note that due to the coronavirus pandemic, Texas has […]

Small business owners know the key to survival in any economy is flexibility and adaptability. To handle difficult situations, such as the restrictions imposed during the current coronavirus pandemic, entrepreneurs must be creative and think outside the box to come up with solutions for business survival.

Here are three ways small businesses can successfully navigate to a positive outcome.

1. Scale to Meet Unusual Demand

In order to scale your company during the pandemic, your type of business would likely have to be deemed essential and be in high demand to provide services or products […]

Now that we are in full swing of the coronavirus pandemic, small businesses across the country are trying to make sense of the CARES Act and how the relief funding can help keep their businesses afloat. One area of confusion seems to be how a business receiving funds from the Paycheck Protection Program (PPP) and/or the Economic Injury Disaster Program Loan (EIDL) will have their loans forgiven. To date, details and information appear to change daily.

According to the Small Business Administration (SBA), there will be additional guidance on […]

As of April 16, 2020, the SBA announced all appropriations for the Paycheck Protection Program and the Economic Injury Disaster Loan were exhausted. Small business owners are now in need of COVID-19 relief funding alternatives.

Below is a list of some COVID-19 funding options that are still available.

SBA Express Bridge Loans (EBL)

Eligibility: Small businesses that currently have a business relationship with an SBA Express Lender.

Loan Amount: Up to $25,000.

Purpose: Support for small businesses experiencing a temporary loss of revenue due to the coronavirus pandemic. The SBA Express Bridge Loans […]