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Running a business in South Carolina is work. Retaining employees is one of the biggest challenges for South Carolina businesses. Combined with a volatile economy, the situation is dire. With the Employee Retention Tax Credit (the ERC or the ERTC) still available in 2023, South Carolina businesses still have time to cash in on this incentive to support small business America. We will examine the employee retention credit in this article, including its eligibility criteria

As a business owner in South Carolina, have you ever heard of the research and development (R&D) tax credit? If you haven’t, then it’s time to learn about this valuable benefit that can help boost your company’s bottom line. In 2023, the R&D tax credit is expected to be a significant boost for qualifying businesses in the state. In this blog post, we’ll explain what the R&D tax credit is all about, how it works,

What To Do After Tax Season (Part Two) As we wind down tax season, as a business owner, you may be thinking to yourself ‘what now?’. We’ve discussed the importance of both forecasting and budgeting for the upcoming year but it’s also important to take a look at your businesses completed tax return and see if there are any major changes you expect this calendar year that could affect things like your estimated taxes or

What To Do After Tax Season (Part One) As we wind down tax season, you may be thinking to yourself, ‘what now?’. The most important thing to ask yourself in order to prepare for the year ahead is, ‘Are there any changes to your financial information that you may have forgotten to mention to your CPA?’. Changes could include anything from the number of dependents, joint filing status, home state, or even properties and vehicles.

The Difference Between Budgets + Forecasts When prepping for the year ahead, businesses sometimes ask our team why they need both a budget and a forecast. A budget and a forecast are not interchangeable and both are necessary tools to manage the financial health of a business.   A business budget is a financial plan based on the expected revenue and expenses of the upcoming year. Budgets are usually set based on historical data and used to