small business finance - Herman & Co. CPA

Small Business Resources

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Small Business Health Care Tax Credits

Westchester NY accountant Paul Herman has all the answers to your personal finance questions! Small Business Health Care Tax Credit Changes to the SBHCTC beginning in 2014: The credit increases to 50 percent for small businesses and 35 percent for tax-exempt employers. You must purchase insurance for your employees through SHOP.* The credit is only available to…

Business Tax Breaks

Several favorable business tax provisions have a limited term life that may dictate taking action between now and year-end. They include the following two provisions.

Health and Medical Insurance FAQ’s for Employers

If an employee cannot work due to illness or accident, the disability plan gives him/her income replacement. These defer from worker’s compensation as they pay benefits for non-work related illness and injury, and can be either short-term or long-term.

Employee Benefits as a Small Employer

The employer must pay for certain legal benefits and insurance coverage such as Social Security, unemployment insurance and worker’s compensation.

Travel and Entertainment FAQs

If you give back any excess reimbursement, provide your employer with a detailed expense report and meet other requirements. There is no need to report the reimbursement or to deduct the expenses.

Cash Flow and Your Small Business

A projection of the monthly cash flow will uncover and eliminate any deficiencies or surpluses in the cash flow and show the relations between previous projections and actual figures. A business financial strategy should be changed to allow for more cash when cash deficiencies are discovered.