EPA Enforcement Hits Small Speed Shop with $180,000 Fine
As the Environmental Protection Agency (EPA) targets and increases enforcement against automotive aftermarket companies through its National Compliance Initiative, the federal agency is harming legitimate businesses in the motorsports industry. Despite the EPA’s nonbinding, informational claims that it is not targeting aftermarket companies that produce parts for dedicated race cars, the EPA continues to pursue
US House Committee Holds Hearing on DOL Overtime Rule
On June 9th the U.S. House Committee on Small Business held a hearing titled, “Damaging Repercussions: DOL’s Overtime Rule, Small Employers, and their Employees.” The hearing addressed the repercussions of the U.S. Department of Labor’s (DOL) recent overtime rule on the small business community.
7 Common Small Business Tax Misperceptions
One of the biggest hurdles you’ll face in running your own business is staying on top of your numerous obligations to federal, state and local tax agencies. Tax codes seem to be in a constant state of flux making the Internal Revenue Code barely understandable to most people. The old legal saying that “ignorance of
Tax Planning for Small Business Owners/Engine Shops
It is to your benefit to review your income and expenses monthly and meet with your CPA or tax advisor quarterly to analyze how you can take full advantage of the provisions, credits and deductions that are legally available to you. Running a hands-on engine shop can keep you pretty busy and at times, you
