Understanding At-Will Employment: What It Means for Employers and Employees
In the United States, most employment relationships are considered at-will, a concept that significantly impacts both employers and employees. But what does at-will employment actually mean, and what are the legal considerations surrounding it? Let’s break it down. What Is At-Will Employment? At-will employment means that either the employer or the employee can end the […]
85% of sellers underestimate the time it takes to sell a business
Part 1 85% of business owners underestimate the time it takes to sell a business That’s an eye-opening statistic! It highlights how many business owners underestimate the complexity and time required for a successful exit. In my experience, many business owners tend to focus more on the day-to-day operations and don’t always plan for the […]
The Key to Retaining Happy Employees
Employee Appreciation Day is a chance for employers to acknowledge their employees’ hard work. While it’s a simple gesture, its impact extends far beyond one day—it plays a critical role in employee satisfaction, retention, and company success. Why Employee Appreciation Matters Employees who feel valued are more engaged, motivated, and loyal to the company. Gallup […]
Benefits of filing your taxes early
Filing your taxes early can be a smart move for several reasons: Faster Refund: If you expect a refund, filing early means you’ll get your money sooner. It can be a nice financial boost right when you need it. Reduce Stress: Procrastination often leads to unnecessary stress. Getting your taxes done early can give you […]
2025 Compliance Updates for Corporations & LLCs
What You Need to Know from MatchBooks and Bombard Law Office, PC As we enter 2025, business owners, corporate leaders, and LLC managers must stay on top of their legal and compliance obligations. Neglecting key filings and updates can lead to unnecessary risks, financial penalties, or even the dissolution of your business. To help you […]
5 Steps to Business Succession Planning
When considering exiting your business and your next steps, you should always have a well-thought-out written plan. You have many choices including: Closing the business Hire a manager to run the business Sell or give the business to family or employees Sell to an outside party Talk to your industry contacts, other owners who have […]
The Key Benefits of Business Valuation
Understanding your business’s value is crucial for making informed decisions. Consider the elderly widow who inherits a business from her husband. She receives an offer from a buyer. Is it a fair market price offer? She may not know but our independent valuation will tell her plus will give her credibility with the buyer justifying […]
Signs You Need Catch-Up Bookkeeping
Before we discuss the signs that you need catch-up bookkeeping, let’s first define it. Catch-up bookkeeping involves reviewing, organizing, and updating past financial records to clearly understand your business’s financial health. This process includes filling in missing information, categorizing transactions into the correct accounts, reconciling bank and credit card statements, and ensuring compliance with state […]
Why Should You Send a 1099 Form?
1. IRS Compliance The IRS requires businesses to report certain payments made to contractors or service providers. Sending 1099s ensures compliance with IRS regulations. 2. Avoid Penalties Failing to file or send 1099 forms can lead to penalties. The fines range from $50 to $290 per form (or more for intentional disregard). 3. Help Contractors […]
Who Should Receive a 1099 Form?
Who Should Receive a 1099 Form? Independent Contractors and Freelancers Send a Form 1099-NEC (Nonemployee Compensation) to anyone who provided services (not goods) to your business and was paid $600 or more during the tax year. This applies to individuals, sole proprietors, partnerships, and LLCs, but not to corporations (unless specific rules apply). Examples: Freelance […]