Business owners: Cash flow is the lifeblood of a successful company, and your billing processes have a huge impact on it. Make sure you’re not taking billing for granted.

“Thousands of people have lost millions of dollars and their personal information to tax scams,” according to the IRS. The scams may come in through email, text messages, telephone calls or regular mail. Criminals regularly target both individuals and businesses and often prey on the elderly.

The IRS recently released its audit statistics for the 2022 fiscal year and fewer taxpayers had their returns examined as compared with prior years. But even though a small percentage of returns are being chosen for audits these days, that will be little consolation if yours is one of them.

If you own a successful small business with no employees, you might be ready to set up a retirement plan. Now a 401(k) might seem way out of your reach — only bigger companies can manage one of those, right? Not necessarily.

Business owners: You’ve probably heard about customer relationship management software. Now may be a good time to invest in it or, if you already have, make sure it’s paying off.

If you’re married and don’t earn compensation, you may think you can’t contribute to a retirement plan. But you may be eligible for a spousal IRA. Here are the rules for 2023.

Business owners: If you’re thinking about hiring your child or spouse this summer (or already have), you could be in line for some tax savings. But you’ll need to learn the IRS rules and abide by them carefully.

If you do business with virtual currency, it’s time to bone up on related tax requirements. The IRS is paying closer attention.