Risk Management

Act fast if a customer files for Chapter 11 bankruptcy

Is your business out of luck if a customer files for bankruptcy? Not necessarily, but the odds of recovery depend on the facts of the case. Engage legal and financial advisors promptly to strengthen your position.
October 29, 2026
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If a customer with outstanding bills files for Chapter 11 bankruptcy, an ordinary receivable could become an urgent financial problem. Although a customer’s filing doesn’t necessarily mean your business will go unpaid, recovery depends on the debtor’s resources — as well as your claim’s status and the bankruptcy case’s outcome. To protect your business’s rights […]
#Bankruptcy, #Chapter11, #RiskManagement
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Payroll

Payroll tax compliance: New Social Security wage base for 2027

From $3,000 in 1937 to $192,300 in 2027, the Social Security wage base has changed dramatically over the years. Here’s what the latest increase means for small business owners and their employees.
October 27, 2026
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If your small business has employees, you may need to budget for higher payroll costs next year, especially if you employ many high earners. The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $192,300 for 2027 (up from $184,500 for 2026). Wages and self-employment income above […]
#FICA, #PayrollTaxes, #SocialSecurityTax
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Audit & Accounting

What business owners need to know about the accounting cycle

Whether you just launched your business or it’s been operational for a while, understanding the accounting cycle and consistently following procedures can help keep your financials in order.
October 22, 2026
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The accounting cycle is used to record, organize and summarize financial activity for a specific period. Also known as the bookkeeping cycle, it’s designed to produce accurate data that will help business owners understand performance, manage cash flow and plan for the future. Properly prepared financial records can alert owners to operational issues before they […]
#AccountingCycle, #AuditAndAccounting, #FinancialReporting
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401(k) Plans

The benefits of increasing your 401(k) contributions before the year runs out

With a handful of paychecks left in 2026, you may still have time to increase your 401(k) contributions and either cut your 2026 taxes or provide yourself with tax-free retirement income.
October 20, 2026
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As 2026 draws to a close, your employer’s 401(k) plan may offer an opportunity to reduce your current income taxes while building your retirement savings — or to boost your future tax-free retirement income. If you haven’t been contributing, it may not be too late to start. And if you’re already contributing, increasing the amount […]
#401kPlans, #FinancialPlanning, #RetirementPlanning
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Payroll

IRS publishes new per diem business travel rates for fiscal year 2027

New IRS-approved “per diem” rates took effect on Oct. 1, 2026. Learn how these rates can simplify expense reporting and help you manage business travel costs.
October 19, 2026
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Many businesses use federal “per diem” rates to reimburse employees for out-of-pocket travel expenses. In Notice 2026-60, the IRS announced special per diem rates that are effective for the federal government’s fiscal year of October 1, 2026, through September 30, 2027. Taxpayers can use these rates to substantiate certain lodging, meals and incidental expenses for business travel […]
#Payroll, #PerDiem, #TravelReimbursement
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Employee Benefit Plans

Cost vs. coverage: Renewing your business’s employee health plan

The cheapest health insurance plan isn’t necessarily the best choice for your business’s employees — or even its budget. Learn what you should consider when renewing coverage.
October 14, 2026
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If your business’s renewed employer-sponsored health insurance plan starts at the beginning of the calendar year, you’re probably negotiating next year’s rates now or will be soon. The stakes are high and rising: Preliminary survey results from Marsh (whose Mercer business advises employers on health benefits) project that employers’ health benefit costs per employee will […]
#BenefitsPlanning, #EmployeeBenefitPlans, #HealthInsurance
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Tax Planning

Separating or divorcing this year? Consider these tax issues before year end

Separation and divorce can have tax consequences that are often overlooked. If you’re in the process of a split with your spouse, it’s important to understand how a legal separation or final divorce decree could affect your 2026 filing status and tax liability.
October 13, 2026
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Dissolving a marriage involves numerous financial and nonfinancial decisions, and tax considerations can easily fall by the wayside. But decisions made before your divorce is finalized can affect your current-year income tax liability and your tax situation in future years. Let’s look at some of the most critical tax issues to consider as you work […]
#DivorcePlanning, #DivorceTaxes, #TaxPlanning
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Tax Planning

Expecting a big revenue year? Consider tax moves before year end

If your business is booming, congratulations! Higher profits are great news, but don’t overlook your 2026 income tax obligations. Let’s explore ways to lower taxes and avoid tax-filing surprises.
October 12, 2026
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For most small business owners, strong revenue growth is something to celebrate. But a profitable year can also significantly increase your income tax liability. If your business is on track for a banner year, now is the time to evaluate tax-reduction strategies. Here’s some guidance for sole proprietors and owners of pass-through entities (such as […]
#businesstaxes, #SmallBusinessTax, #TaxPlanning
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