It goes without saying, the job market has undergone considerable transformations and faced numerous obstacles in recent years. As the economy grapples with the lingering consequences of the COVID-19 pandemic, small businesses in Massachusetts are confronting various challenges related to recruiting and retaining staff in the face of looming economic uncertainties.In an effort to provide … [Read more...]
Your Guide to the 2023 Tax Season (Tax Year 2022)
As you prepare your tax filings in 2023, it's worth noting that there are a few updates to keep in mind for this year. Among these changes are an increased standard deduction, adjusted tax brackets, and modifications to certain tax credits and deductions. But before we dive into the details, here are the important tax filing dates for 2023. Important Tax Filing Dates for 2023April 18, 2023, … [Read more...]
What Can Small Businesses Do Now To Prepare for a Recession?
In our previous article, we reviewed if a recession is on the horizon for small business owners. In this article, we take a look at what small business owners can begin doing now to prepare for a recession. Start With Planning and Budgeting One way to ease uncertainty and plan for a recession is to determine how a recession will impact business operations. Do this by: Creating a budget now … [Read more...]
Is A Recession Inevitable?
Over the past two years, small businesses have weathered a global pandemic, a supply chain crisis, labor shortages, and increasing costs due to inflation. Now, the next hurdle for small businesses lies ahead - a very possible recession. The Current State of Monetary Tightening After having been late to address inflation when it gained momentum last year, the Fed has slammed on the monetary … [Read more...]