Returning Value Blog

Tax problems can happen to even the most organized small business owners. A cash flow crunch, an unexpected tax notice, a missed filing deadline, or a payroll tax oversight can be stressful — especially when penalties and interest begin to add up. Fortunately, businesses can get back on track by addressing tax issues promptly and strategically.

Alabama's Back-to-School Sales Tax Holiday Weekend: July 17–19, 2025

The State of Alabama will participate in its 21st annual Back-to-School Sales Tax Holiday Weekend, beginning Friday, July 17, 2025, at 12:01 a.m. and ending at midnight on Sunday, July 19, 2026. During this three-day event, shoppers can purchase a variety of school-related items free of the state’s 4% sales tax, keeping in mind that local sales tax may still apply, depending on whether your city or county is participating in the tax holiday.

Fraud is a major threat facing small and midsize businesses. While audits aren’t designed to uncover fraud, they can help business owners identify anomalies and deter would-be fraudsters. Recent findings from the Association of Certified Fraud Examiners (ACFE) underscore the important role audits play, together with other controls, in a broader fraud prevention strategy.

Some small business owners overlook Roth IRAs because they assume their income is too high for them to qualify to make Roth contributions. Others may think their current tax rate is higher than it will be in retirement, making current tax deductions more valuable than future tax-free distributions. However, if you don’t at least consider contributing to a Roth IRA, you may be missing a potentially valuable tax-saving opportunity.

Persistent inflation, elevated interest rates, and volatile energy costs continue to squeeze profit margins for many small and midsize businesses. While implementing price increases may seem like the simplest response, that’s not always necessary — and, in today’s competitive markets, price increases can even cause some of your customers to search for lower-cost providers. Sustainable pricing decisions start with disciplined cost controls. One broad area to target for operational inefficiencies is overhead expenses.

The Internal Revenue Service has announced a new, streamlined way for taxpayers to extend the period of time for the IRS and the IRS Independent Office of Appeals to review a taxpayer’s response to a disallowance of an Employee Retention Credit (ERC) claim to avoid refund litigation.

Many modern businesses rely on intangible assets, such as goodwill, trademarks, and customer lists. But the IRS doesn’t treat all intangibles the same way. Questions about how these assets are taxed often arise when a business is sold, ownership changes hands, or intellectual property is licensed or transferred.

High-performing workplaces such as Google, IBM, Nissan, and Starbucks are among a growing list of organizations that have benefited from having their employees participate in stay interviews. Traditionally, most companies conduct only two interviews: the hiring interview and the exit interview. By the time a company is ready to complete an exit interview, it's too late to address any of the employees' concerns that might have prevented them from looking outside the firm for a job.

 If you’re self-employed, you probably have questions about deducting business expenses on your federal income tax return. Here’s a quick overview of the filing requirements for sole proprietors and independent contractors, and five examples of expense deductions that are commonly overlooked or misunderstood.

Financial statements are essential tools for evaluating performance, planning for growth, and managing risk. Yet many business owners, board members, donors, and investors don’t have formal accounting training. Presenting financial information in a clear, approachable way can help stakeholders better understand results and make informed decisions.