TMA Accounting

Responsibilities When Collecting W-4s

2 min read

Responsibilities When Collecting W-4s

Employees don't always take the task of filling out their W-4 forms seriously. They may write "exempt" on the withholding portion of the form or even...

Perform an Operational Review to See How Well Your Business Is Running

2 min read

Perform an Operational Review to See How Well Your Business Is Running

In the wide, wide world of mergers and acquisitions (M&A), most business buyers conduct thorough due diligence before closing their deals. This...

Cost-Effective Ways to Improve Retention

2 min read

Cost-Effective Ways to Improve Retention

Like many other businesses, your company may occasionally endure downturns during which revenues stagnate, and your ability to authorize generous...

Can Your Company Revise its Payday Schedule?

2 min read

Can Your Company Revise its Payday Schedule?

Paydays are sacred in the workplace. Some employees who can't remember how many years they've been married or how long it's been since their last...

Keys to Avoid Payroll Tax Trouble

3 min read

Keys to Avoid Payroll Tax Trouble

What would happen if your company failed to pay the IRS payroll taxes when they were due? You could be on the hook for penalties and, if you're...

Nine Tax Considerations if You're Starting a Business as a Sole Proprietor

2 min read

Nine Tax Considerations if You're Starting a Business as a Sole Proprietor

When launching a small business, many entrepreneurs start out as sole proprietors. If you’re launching a venture as a sole proprietorship, you need...

Clear Overtime Policy Saves Money

2 min read

Clear Overtime Policy Saves Money

It's not enough to have a one-sentence statement in your employee handbook that merely tells your employees something like this: "All time worked...

3 min read

Do's and Don'ts for Business Expense Deductions

As tax season heats up, companies of all kinds and sizes will be on the hunt for ways to reduce their tax bills. One of the most common ways is...

How TMAs Payroll Service Works

2 min read

How TMA's Payroll Service Works

Twenty-five years ago, TMA was focused solely on helping small businesses get a handle on bookkeeping and taxes. Providing payroll services was not...

Setting Goals for Your Small Business

2 min read

Setting Goals for Your Small Business

Setting goals plays a pivotal role in shaping the success and growth trajectory of small businesses. It's a practice that every small business owner...

The Value of Using One Service Provider for Accounting, Payroll, and Taxes

1 min read

The Value of Using One Service Provider for Accounting, Payroll, and Taxes

Navigating the landscape of accounting and payroll decisions is an essential choice for small business owners. There are advantages to bringing these...

Partnerships: Tax Considerations When Adding a New Partner

4 min read

Partnerships: Tax Considerations When Adding a New Partner

Are you considering inviting an employee or an outsider to participate in your existing partnership? Before making any commitments, it's important...

What is Bookkeeping, and Why is it important for Small Businesses?

2 min read

What is Bookkeeping, and Why is it important for Small Businesses?

Running a small business requires you to understand the financial health of the business. Most people know that a business’s financial statements...

Year-End Review of S Corp Compensation: Stay on the Right Side of the IRS

3 min read

Year-End Review of S Corp Compensation: Stay on the Right Side of the IRS

With the new year right around the corner, your shareholders might be thinking about year-end bonuses or distributions. Before doing so, it's...

Avoid Costly Equipment Buying Blunders

1 min read

Avoid Costly Equipment Buying Blunders

Have you ever bought a new "state-of-the-art" piece of equipment only to discover that you paid dearly for some bells and whistles you didn't really...

Seven Ways Supervisors Can Hit the Target on Communication

2 min read

Seven Ways Supervisors Can Hit the Target on Communication

Successful supervisors know how and when to be assertive. They communicate their needs in a way that earns them respect and gets results.

Answers to Common Payroll Questions

4 min read

Answers to Common Payroll Questions

Understanding the payroll tax rules can be challenging when your company hires workers or the personal situations of existing employees change....

Can You Require a Switch to Direct Deposit?

2 min read

Can You Require a Switch to Direct Deposit?

It may not be long before paper paychecks go the way of the five-and-dime store and the VCR. They may soon become obsolete as "direct deposit" into...

QuickBooks – Pros and Cons for Small Businesses

2 min read

QuickBooks – Pros and Cons for Small Businesses

QuickBooks is by far the most popular software system to streamline bookkeeping for small businesses, with many programs in its arsenal. Among them,...

What Accounting Services Does My Small Business Need?

1 min read

What Accounting Services Does My Small Business Need?

One of the most common statements we hear from prospective clients is, “I don’t know what services my business needs.” At first glance, accounting...

Payroll Deduction IRAs Are a No-Cost Benefit

1 min read

Payroll Deduction IRAs Are a No-Cost Benefit

If you've considered setting up a retirement plan for your employees and decided it was too costly or too much trouble, there is an alternative. No...

LLC: A Blueprint to Limit Liability and Cut Taxes

3 min read

LLC: A Blueprint to Limit Liability and Cut Taxes

There is generally no one legal structure that works best for all businesses. The most favorable choice depends on a number of factors, including the...

The IRS Has Announced Increased Retirement Plan Benefits for 2024

2 min read

The IRS Has Announced Increased Retirement Plan Benefits for 2024

With the 2024 tax year right around the corner, there's good news coming from the IRS. According to a recent announcement from the tax agency (Notice...

Be a Hands-On Owner to Maximize Profits

2 min read

Be a Hands-On Owner to Maximize Profits

Over the years, McDonald's has been able to sell hundreds of billions of hamburgers. The business started with a single drive-in burger stand started...

Have You Outgrown the Year-end Accounting Approach?

1 min read

Have You Outgrown the Year-end Accounting Approach?

When you start a small business, many items are on your to-do list. While bookkeeping, accounting, taxes, and payroll may not be your favorite...

Year-End Bonuses: Tax Issues for Employers and Employees

2 min read

Year-End Bonuses: Tax Issues for Employers and Employees

The holidays are often referred to as "the most wonderful time of year" — and, for some people, that's due in part to their year-end bonuses. While...

Six Reasons TMA May not be a Good Fit for your Business

2 min read

Six Reasons TMA May Not Be a Good Fit for Your Business

We believe that investing in good accounting processes can benefit most small businesses. While we love helping small business owners, not everyone...

Hit the Ground Running: 7 Tips for New Business Owners

3 min read

Hit the Ground Running: 7 Tips for New Business Owners

Launching a new business can be a daunting endeavor. As soon as you form the company, you'll face many important decisions — ranging from the mundane...

Leveraging the Power of Your Company's Managers

2 min read

Leveraging the Power of Your Company's Managers

The strength of every business is its people. But if your top managers aren't getting the most from their respective teams, your company is operating...

Tips to Boost Hiring Success

1 min read

Tips to Boost Hiring Success

It's the goal of every boss: Hire the right person to fit the right job. To achieve this goal, put more time and energy into a job analysis, which...

Ask the Right Questions When Growing the Family Business

1 min read

Ask the Right Questions When Growing the Family Business

Profit growth and business expansion are two key goals for many family businesses. In order to successfully reach your targets, however, you must...