Small Business

Small businesses are the backbone of the U.S. economy, but small business owners often struggle to keep their finances in order while managing the day-to-day operations.

You’ve come up with a great idea for a new small business that will meet the needs of many and put you on the road to financial security.

More than 9 million self-employed people are not covered by a retirement plan, according to the U.S. Small Business Administration. Many of these people are business owners who may be hoping to retire on the profit they will make from selling their companies down the road, but they could be in for a disappointment if their plans don’t pan out as expected. The Ohio Society of CPAs offers some perspective and explains some retirement savings options for the self-employed.

Anyone starting a new business this summer should be aware of their federal tax responsibilities. Here are the top seven things the IRS wants you to know if you plan on opening a new business this year.

The price of providing health care to small company employees is soaring. In fact, 28% of businesses surveyed said their health care insurance rates had jumped more than 20% in the past year, according to a study by the National Small Business Association. If your company is struggling to pay health insurance premium costs, there are options that can help you ease the burden, according to The Ohio Society of CPAs.