For small and mid-sized businesses (SMBs), compliance with employment laws can be a minefield. Most business owners don’t intentionally break HR laws—they’re often just unaware of how complex and nuanced federal and state requirements can be. Unfortunately, even small missteps can result in fines, lawsuits, or reputational damage.

One of the most important financial decisions a small or medium-sized business owner faces is choosing how to track income and expenses. The two most common methods—cash accounting and accrual accounting—each have their own advantages, challenges, and best-use cases. Understanding the differences can help you choose the right fit for your business’s financial health and long-term growth.

Two of the most important reports are the Profit and Loss (P&L) statement and the Balance Sheet. While both provide valuable insights, they serve very different purposes.

Accounting is much more than numbers, rules, and black-and-white answers grounded in rigid formulas and objective truths. It’s easy to assume that accounting is a science: precise, formulaic, and non-negotiable. But here’s the truth every business owner eventually learns: accounting is just as much an art as it is a science.

Investors and lenders are trained to spot warning signs—red flags—that suggest financial instability, mismanagement, or risk. Understanding what they’re looking for can help you avoid these pitfalls and present your business as a trustworthy, viable investment.

As remote and hybrid work models continue to redefine the modern workplace, businesses across the U.S.—especially small and mid-sized companies—must balance flexibility with legal and operational compliance. The shift to remote work isn’t just a cultural or technological challenge; it also introduces complex compliance requirements at both the federal and state levels.

An HR audit is a comprehensive review of your organization’s human resources policies, procedures, documentation, and systems. It helps ensure compliance with laws, supports best practices, and aligns your HR operations with your business goals.

Here’s why every small and medium-sized business should consider making HR audits a regular part of their operations—and what you can expect from the process.

As your business grows, your workforce expands—and with that comes greater responsibility in managing people effectively. Unfortunately, many small and midsize companies overlook key human resources practices, leading to costly and avoidable mistakes.

When you're managing a business, having the right financial support is critical. But when it comes to choosing between a CPA (Certified Public Accountant) and an accountant, many business owners aren’t sure which is the better fit—or what the difference even is.