March, 2023 » Brock CPA
Business Taxes

The Impact of Remote Work on Small Business Taxes

Remote work has been steadily increasing in popularity, and the COVID-19 pandemic has only accelerated this trend. As a result, small businesses are facing new tax challenges. One significant challenge is the question of nexus, which refers to the connection between a business and a state that allows the state to impose tax obligations on the business. With remote work, employees may be working from different states, potentially creating nexus in those states.

Additionally, small businesses may face challenges with employment taxes for remote workers, as employers are required to withhold state and local taxes from employee paychecks based on where the employee works. Small businesses may also need to consider home office deductions, remote work benefits deductions, and reciprocity agreements.

To navigate these tax challenges, small businesses can work with experienced tax professionals, implement policies and procedures, and potentially use tax software. By taking these steps, small businesses can successfully navigate the tax challenges of remote work.

Business

Let’s talk about the importance
of online reviews

This month, I’d like to emphasize the significance of online reviews, both for our business and yours. In today’s digital age, online reviews have become an essential element in establishing a company’s reputation. They serve as an invaluable source of information for prospective clients who are diligently researching various companies. These reviews play a vital role in shaping customer behavior and ultimately driving new business.