Live Updates: The Latest News for Taxpayers and Small Business Owners

April 20, 2026
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With the news coming faster and faster every day, we wanted to help our tax and small business clients stay up to date on the latest stories affecting them and their finances. Keep checking back to stay informed on the top headlines, law changes, tax proposals, and much more. Here are some of the important stories to keep up with today: September 13 Bloomberg: Biden Inheritance-Tax Plan Poised to Be Scaled Back in Congress September 12 Tax Policy Center: Was The Senate’s Heated Crypto Tax Reporting Debate Much Ado About Nothing? September 11 Tax Foundation: Three Issues with Proposed Regulations for Maryland’s Digital Advertising Tax September 10 CNBC: U.S. Democrats propose dramatic expansion of EV tax credits that favors Big Three September 9 CNBC: Here’s how to avoid costly mistakes if you inherit a 401(k) or IRA September 8 CNBC: Here’s how to avoid costly mistakes if you inherit a 401(k) or IRA September 7 CNBC: IRS had a backlog of nearly 8 million paper business tax returns in 2020 due to pandemic September 6 CNET: Still no tax refund? What to do if your IRS money is delayed September 5 GOBankingRates: 7 Ways You’re Accidentally Committing Tax Fraud September 4 CNBC: Renaissance executives agree to pay around $7 billion to settle tax dispute with IRS: Source September 3 Yahoo! Finance: Small Businesses and Workers See Slowdown Due to Delta Variant CNBC: Private payrolls increase by just 374,000 in August, far short of the 600,000 estimate, ADP says CNBC: Jobs report disappoints — only 235,000 positions added vs. expectations of 720,000 September 2 CNBC: IRS chief tells Elizabeth Warren: More transparent bank data can fight tax evasion Fast Company: This is why your hourly workers aren’t coming back Bloomberg.com: 'Forever Changed’: Business Travel Isn’t Coming Back as CEOs Gut Budgets September 1 Accounting Today: IRS regulation of tax preparers gains steam CBS News: Walgreens becomes newest member of the $15 an hour club Reuters: Surging COVID-19 cases dampen U.S. consumer confidence, house prices post record gains August 31 Fast Company: Second stimulus checks are going out in California: This calculator shows how much you’ll get CNBC: Homebuyers sign fewer contracts in July, as high prices chill the summer market Forbes: Taxing College Athlete Name Image Likeness Deals August 30 CNBC: Americans are changing who they turn to for financial advice Yahoo! Finance: Pending home sales fall for second straight month Bloomberg: Goldman Sees 750,000 Evictions in U.S. as Bans Come to an End August 29 Entrepreneur: 4 Personal Finance Tips Every Entrepreneur Should Know August 28 Forbes: IRS Tax Lessons From Michael Jackson August 27 Tampa Bay Times: USF accounting manager pleads guilty to embezzling $12.8 million CNBC: Former start-up CEO arrested and charged with fraud for allegedly misstating financials The Wall Street Journal: U.S. Consumer Spending, Income Grew in July August 26 Yahoo! Finance: Fourth Stimulus Checks Are Coming From These States — Is Yours on the List? CNBC: House vote on $3.5 trillion budget raises prospect of higher taxes on the rich CBS News: Unemployment cliff looms as 7.5 million Americans to lose aid by Labor Day August 25 CNBC: Enhanced tax credits become ‘bargaining points’ in divorce cases Fast Company: IRS direct deposit: Here’s a helpful breakdown that will tell you if it’s a tax refund or credit Forbes: Did IRS Robots And Mail Backlog Cause The Tax Court Petition Flood? August 24 The Wall Street Journal: U.S. Expansion Slowed in August, Survey Shows CNBC: Fast-food wages climbed 10% in latest quarter, the largest jump in years, report says Fast Company: Going back to the office means giving up lucrative WFH side hustles for many employees August 23 Bloomberg: B-Schools Must Evolve for Future Business Demands, Employers Say Forbes: The Covid-19 Pandemic Drove A Huge, But Temporary, Increase in Households That Did Not Pay Federal Income Tax NPR: These Older Workers Hadn't Planned To Retire So Soon. The Pandemic Sped Things Up August 22 Fast Company: 7 companies that could be worth $1 trillion within the next three years August 21 CNBC: Despite the pandemic, 401(k) balances and savings rates are higher than ever August 20 CNBC: This lesser-known tax credit may offer working families a bigger write-off this year August 19 Tax Policy Center: The COVID-19 Pandemic Drove A Huge, But Temporary, Increase in Households That Did Not Pay Federal Income Tax August 18 Bloomberg: U.S. Initial Unemployment Claims Drop for Fourth Straight Week August 17 CNBC: Climate change will disrupt supply chains much more than Covid — here’s how businesses can prepare August 16 CNET: IRS Child Tax Credit Update Portal: The key to opting out, handling payments and more August 15 Yahoo! Finance: What Income Level Is Considered Middle Class in Your State? August 14 CNBC: Consumer sentiment measure falls to pandemic-era low, sees one of largest drops on record August 13 CNBC: Repeal of the cap on state and local tax deduction still in play. Here’s what to watch Bloomberg: U.S. Inflation Forecasts Keep Rising as Supply Constraints Loom Yahoo! Finance: Child Tax Credit: Many families used the first payments to pay off debt August 12 Forbes: California Congressman Mark Takano Introduces Legislation For A Four-Day Workweek CNBC: Social Security cost-of-living adjustment could be 6.2% in 2022 Barron’s: How Will the U.S. Pay for the $3.5 Trillion? Taxes, Mostly. August 11 The Washington Post: What’s in the $1.2 trillion Senate infrastructure package Reuters: U.S. consumer price increases slow in July, signs inflation peaked CNBC: Labor shortage gives retail and restaurant workers the upper hand—for now August 10 The New York Times: Senate Passes $1 Trillion Infrastructure Bill, Handing Biden a Bipartisan Win CNBC: Main Street overconfidence: America’s small businesses aren’t worried about hacking Forbes: Tax On U.S. Olympic Medals Makes IRS Biggest Winner August 9 Yahoo! Finance: Move here, get paid: Small towns offer up to $20K just to get you to live there, work remotely CNBC: Job openings surge above 10 million for first time ever, Labor Department says Forbes: IRS Payments Abound In July, But Frustration Remains For Those Awaiting Tax Refunds August 8 Fast Company: IRS tax refund update: Faulty ‘math error’ notices sent to people who claimed stimulus check credits August 7 Yahoo! Finance: Unemployment rate headed to a 50-year low August 6 CNBC: Payrolls increase 943,000 in July as unemployment rate slides to 5.4% Fast Company: Still no IRS tax refund? It could be a simple math or clerical error. Here’s how you’ll know Yahoo! Finance: Mortgage rates hit new 6-month low as refinance fee ends, delta variant rages August 5 The New York Times: P.P.P. loan forgiveness portal opens, but big banks opt out. CNBC: Private companies added 330,000 jobs in July, according to ADP, far short of the 653,000 estimate Business Insider: How unemployed Americans scored a big last-minute win in Biden's infrastructure bill, cutting a $50 billion measure that could have stripped their benefits August 4 CNBC: Here’s how much 2021 winners of Mega Millions and Powerball have forked over in taxes NPR: The Biden Administration Issues A New Eviction Moratorium After A Federal Ban Lapsed Yahoo! Finance: Mortgage Boom Drives Biggest Jump in Household Debt Since 2013 August 3 CNBC: How language in the infrastructure bill could roil the crypto markets Fast Company: Jobseekers: These are the best and worst states for new work opportunities right now Reuters: U.S. manufacturing growth cooling; bottlenecks starting to abate August 2 Associated Press: It’s in and it’s big: Senate unveils $1T infrastructure bill CNN Business: Supply Chain Interrupted: Here's everything you can't get right now Forbes: Crypto Exchanges Face New Reporting Requirements And Stiff Penalties Under Senate Infrastructure Bill August 1 CNBC: There’s an unemployment cliff coming. More than 7.5 million may fall off July 31 Fast Company: IRS unemployment refund update: Timeline for next round, direct deposit, mailed paper checks July 30 CNBC: Consumers did great job paying down credit card debt during pandemic. That may be ending July 29 NPR: You Might Consider Opting Out Of The Child Tax Credit. Here's Why CNBC: Economic growth likely hot in the second quarter, but shortages may have kept it from overheating CBS News: IRS sending out another 1.5 million tax refunds to people who overpaid on unemployment benefits July 28 Inc.: Hurry: The SBA Is Launching a Fast Forgiveness Portal Reuters: U.S. consumer confidence at 17-month high; business spending on equipment strong Yahoo! Finance: No Hiring Boom in States That Cut Unemployment Benefits Early: Analysis July 27 The Wall Street Journal: A Key Gauge of Future Inflation Is Easing CNBC: Consumer losses due to Covid-related fraud top $500 million Forbes: The IRS Bottleneck Most Taxpayers Have Never Heard Of July 26 The New York Times: Biden’s Antitrust Team Signals a Big Swing at Corporate Titans CNBC: Gen X workers may be facing the biggest unemployment crisis, study finds Fast Company: IRS fourth stimulus check hoaxes prey on people’s hopes for clicks July 25 CNBC: A tax loophole is helping bitcoin holders save tons of cash by avoiding federal taxes July 24 Yahoo! Finance: Social Security checks may see a huge raise next year. Will it be enough? July 23 Yahoo! Finance: IRS sends out another 2.2 million $1,400 stimulus checks Department of Justice: Twenty-Two Charged in Connection with a More than $11-Million Paycheck Protection Program Fraud Scheme CNBC: States cutting unemployment benefits didn’t get people back to work, study finds July 22 Forbes: Why Some Taxpayers Got Three Checks From The IRS In July CNBC: Another 2.2 million stimulus checks have gone out. Here’s who received the payments The Wall Street Journal: U.S. Jobless Claims Rose to 419,000 Last Week July 21 CNBC: Oregon Democrat proposes Senate bill to overhaul tax break for pass-through businesses Yahoo! Finance: Space tourism tax: Congressman announces new plan after Blue Origin launch Fast Company: IRS unemployment refund update: Timeline for the next batch is unclear as millions wait for payments July 20 Reuters: U.S. recession ended in April 2020, making it shortest on record NPR: Low Pay, No Benefits, Rude Customers: Restaurant Workers Quit At Record Rate Tax Foundation: IRS Sends Nearly $15 Billion of Advance Child Tax Credit Payments July 19 Axios: Consumers complain about high prices, but buy anyway Yahoo! Finance: IRS to Send More Unemployment Tax Refund Checks in July The Wall Street Journal: Red-Hot U.S. Economy Expected to Cool From Here July 18 Yahoo! Finance: U.S Mortgage Rates Fall for a Third Week as COVID-19 Delivers Uncertainty July 17 Forbes: Kardashians Win $13.5M Beauty Lawsuit, IRS Collects Taxes July 16 Fast Company: Didn’t get your IRS child tax credit check? Here’s what to try if your payment never showed up July 15 CNBC: Inflation could prompt largest Social Security cost-of-living adjustment in decades. Why there’s a push to change the way it’s calculated CNBC: How the IRS is trying to nail crypto tax dodgers July 14 Bloomberg: Biden Agenda Gets Boost on Senate Democrats’ $3.5 Trillion Plan July 13 The New York Times: E.U. Delays Digital Levy as Tax Talks Proceed CNN: Biden administration says states can restart pandemic unemployment benefits as lawsuits mount Reuters: Aging population to hit U.S. economy like a 'ton of bricks' -U.S. commerce secretary July 12 CNBC: Janet Yellen says tax changes for large firms may not be ready until 2022 Yahoo! Finance: G20 backs historic corporate tax reform in Venice NBC: San Jose Man Arrested in Connection With Fraud Involving COVID-19 Relief Funds July 11 Bloomberg: Biden Says Competition Order to Restore ‘Heart’ of Capitalism July 10 Yahoo! Finance: He spent 24 years building his business. A ransomware attack blew it to smithereens July 9 AccountingWEB: Business Meals May Serve Up Big Deductions CNBC: Number of workers unemployed for more than a year jumps by 248,000 Business Insider: A third of former hospitality workers won't return to the industry during the labor shortage because they want higher pay, better benefits, and a new work environment July 8 CNBC: Biden readies order to rein in worker non-compete clauses and make switching jobs easier Forbes: Two Of The Most Family Friendly Provisions Of The American Rescue Plan The Wall Street Journal: Unemployment Claims Have Continued Easing as Hiring Heats Up July 7 Business Insider: Laid-off workers are scoring early wins in lawsuits against GOP governors attempting to cut off federal jobless aid ESPN: NCAA name, image and likeness FAQ: What the rule changes mean for the athletes, schools and more CNN: A massive ransomware attack hit hundreds of businesses. Here's what we know July 6 Forbes: Can You Resist These “Dirty Dozen” Tax Scams? CNBC: How businesses are getting billions in cash back from government to offset hiring costs TechRadar: Watch out for this devious PayPal phishing campaign July 5 CBS News: Jeff Bezos steps down as Amazon CEO as retailer starts new chapter July 4 CNBC: Here’s where the jobs are — in one chart July 3 The New York Times: The I.R.S. had a backlog of 35 million returns by the end of the tax season. July 2 Forbes: How States Are Letting Small Businesses Avoid The SALT Cap On Their Tax Returns Bloomberg: Global Tax Overhaul Endorsed by 130 Nations as Deal Gets Closer The Wall Street Journal: U.S. Jobless Claims Fell to 364,000 Last Week, a New Pandemic Low July 1 CBS News: Financial regulator hits Robinhood for $70 million for "widespread and significant harm" to customers Reuters: U.S. private payrolls increase solidly; pending home sales rebound CNN Business: American consumer confidence jumps to highest level since the pandemic started June 30 NPR: The Supreme Court Leaves The CDC's Moratorium On Evictions In Place Yahoo! Finance: U.S. consumer confidence at 16-month high; house price inflation heating up Fast Company: A lot of laid-off and furloughed workers launched startups last year, according to Salesforce June 29 CNBC: Part-time workers would have easier access to 401(k) plans if this bill passes Fast Company: IRS stimulus checks are still delayed for many and an unknown glitch may be to blame Business Insider: Prices are rising so much that minimum wage workers are poorer than they've been in decades June 28 Axios: Economists unworried infrastructure will boost inflation Forbes: Keeping The Monthly Child Tax Credit Coming, Limiting Risk Of Overpayments CNN: Indiana must continue pandemic unemployment benefits for now, judge rules June 27 CNBC: The ultra-wealthy have made full use of Roth individual retirement accounts. Here’s how you can do the same June 26 The Hill: Biden announces bipartisan deal on infrastructure June 25 CBS News: 10 states to end enhanced unemployment benefits June 26 The Wall Street Journal: Downward U.S. Jobless Claims Trend Stalls Out NBC News: Billionaire investor Peter Thiel has $5B in his tax-free retirement account, report finds June 24 Axios: Why small businesses may end up the pandemic’s biggest winners NPR: The Great Resignation: Why Millions of Workers are Quitting Their Jobs Yahoo! Finance: Jobless claims preview: Another 380,000 Americans likely filed new unemployment claims last week June 23 CNBC: Required IRA, 401(k) withdrawals would start at age 75 under congressional proposal. Here’s who would benefit Fast Company: IRS unemployment refund update: Frustration builds as mid-June comes and goes CBS News: Planning to take out a federal student loan this fall? Prepare for a higher interest rate June 22 CNN Business: Teens have their pick of jobs thanks to a worker shortage CNBC: The value-added tax brings in billions for other countries, but the U.S. doesn’t have one Forbes: Recent IRS Memorandum Reaffirms Bitcoin, Ether & Litecoin Exchanges Are Not Like-Kind June 21 CNBC: As offices shut down for Covid, workers bought vans and hit the road — and some don’t want to return Yahoo! Finance: Dollar holds gains after Fed boost; bitcoin tumbles CBS News: Child Tax Credit: Here's who will get up to $1,800 per child in cash — and who will need to opt out June 20 The Wall Street Journal: Tight Labor Market Returns the Upper Hand to American Workers June 19 CNBC: Business travel likely to resume in the fall, Hyatt Hotels CEO says June 18 Politico: Child tax credit checks could come as a surprise to some NBC News: Jobless claims show surprise increase to highest level in a month Fast Company: IRS refund update: When will the next batch of unemployment tax payments arrive? June 17 CNBC: The child tax credit will only be delivered via direct deposit and paper check at first. What you need to know The Wall Street Journal: U.S. Housing Market Needs 5.5 Million More Units, Says New Report Forbes: With PPP Ended, Small Business Must Look For Other Sources Of Funding June 16 Bloomberg: U.S. May Retail Sales Fall More Than Expected NPR: How 'Chaos' In The Shipping Industry Is Choking The Economy CNN: Jobless Indiana residents sue governor for ending pandemic unemployment benefits early June 15 CBS News: IRS tool offers low-income families a tool to get Child Tax Credit and stimulus checks The Hill: Mall owner with more than 100 US properties files for bankruptcy CNBC: Lost 401(k) accounts and pensions: How lawmakers want to fix the problem June 14 CNBC: Tax refunds and stimulus checks delayed by identity fraud crossfire Politico: Fed explores ‘once in a century’ bid to remake the U.S. dollar CNN: Have suitcase, will travel! Americans take to the skies in almost pre-pandemic numbers as Covid-19 restrictions ease June 13 The Hill: First four states cut off federal unemployment benefits June 12 CNBC: Treasury says tax gap to balloon to $7 trillion over next decade, calls for beefed-up IRS June 11 CNBC: Many wealthy Americans escape big income tax bills. Here’s how they do it AP: US unemployment claims fall to 376,000, sixth straight drop Forbes: Democrats Reintroduce 'Millionaires Surtax' Bill June 10 CBS News: IRS now sending millions more additional stimulus checks Fast Company: NFL player Dan Vitale just announced his job hunt via LinkedIn. Should you? Reuters: U.S. weekly jobless claims seen falling; consumer prices expected to rise further June 9 The New York Times: Wealthiest Executives Paid Little to Nothing in Federal Income Taxes, Report Says CNC: Student loan forgiveness remains on the table, experts say CNN Business: Job openings in the US soar to record 9.3 million June 8 Forbes: IRS Releases Child Tax Credit Payment Dates—Here’s When Families Can Expect Relief CNBC: States will start cutting off federal unemployment benefits this week. Here’s a map of where (and how soon) aid is ending CNN Business: Americans are still sitting on loads of stimulus cash June 7 CNBC: G-7 nations reach historic deal on global tax reform The New York Times: Yellen Won a Global Tax Deal. Now Comes the Hard Part. CNN: Global food prices surge to their highest level in a decade June 6 CBS News: Tax refunds for unemployed Americans are hitting bank accounts June 5 Fast Company: Why did I get money from the IRS today? What to know about the second tax refunds going out June 4 CNBC: Jobless claims fall below 400,000 for the first time since the early days of the pandemic ABC News: Millions set to lose jobless benefits as 25 states end federal programs early Reuters: U.S. sets and suspends tariffs on six countries over digital taxes June 3 CNN Business: Global inflation hasn't been this high since 2008 Yahoo! Finance: Jobless claims preview: Initial filings likely broke below 400,000 for the first time since March 2020 Forbes: Biden Proposes More Stringent Regulations To Catch Crypto Tax Evaders June 2 Bloomberg: Employees Are Quitting Instead of Giving Up Working From Home CNBC: Biden’s proposed 39.6% top tax rate would apply at these income levels USA Today: Home prices rose by more than 50% in these 10 markets since 2017 June 1 Forbes: IRS Crypto Tax Risks Expand With New Reporting CNBC: Millions of Americans could face eviction as housing protection expires in June CBS News: What's behind the push for a fourth stimulus check May 31 The Wall Street Journal: How to Know When Inflation Is Here to Stay May 30 Fast Company: Unemployment update: As states end $300 weekly benefit, a tax credit could step in for some May 29 Yahoo! Finance: IRS Announces it Will Automatically Correct Tax Returns for Unemployment Tax Breaks May 28 MarketWatch: Another key U.S. inflation gauge surges in April and hits 13-year high NPR: Employers Can (Mostly) Require Vaccines For Workers Returning To The Office CBS News: Vaccinated consumers will fuel the economy's boom eventually — just not quite yet May 27 Fast Company: Unemployment update: List of states ending the $300 weekly benefit 3 months early gets even longer CNN: $6 trillion stimulus: Here's who got relief money so far Business Insider: 4 reasons it will take more than a year for the US to get back to full employment, according to Fitch May 26 Yahoo! News: U.S. consumer confidence holds steady, soaring prices slowing housing momentum Forbes: IRS Set To Deliver Advance Monthly Payments: Needs Ability To Update Bank Information CNBC: Fed’s Daly says the economy is strong, but it’s ‘way too early’ to tighten policy May 25 Forbes: 83% Of Americans Are Belt Tightening Due To Inflation Pressures Business Insider: Biden's global tax reform with the G-7 is close to the biggest tax breakthrough in 100 years, report says Reuters: U.S. hiring takes big step back as businesses scramble for workers, raw materials May 24 Bloomberg: Biden Tax Hikes Hitting Resistance, With ‘No Room for Error’ CNN Business: The US economy is closer than ever to 'back to normal.' But we've still got a long way to go Fast Company: IRS unemployment tax refund: Taxpayers frustrated by tracking issues, slow pace of payments May 23 CNN: Florida becomes the 23rd state to end $300-a-week pandemic unemployment benefits May 22 Reuters: U.S. home prices to keep racing ahead with risks to upside May 21 CNBC: U.S. proposes global minimum corporate tax rate of 15%, with an eye on something even higher Yahoo! Finance: Treasury calls for doubling IRS staff to target tax evasion, crypto transfers Reuters: U.S. weekly jobless claims decline further; mid-Atlantic factory activity cools May 20 The Hill: IRS chief says agency is close to clearing backlog of 2019 tax returns CNBC: Taxes would likely rise for the wealthy regardless of Biden’s plans CBS News: Almost half of 2020 college grads still looking for work: "I should be out of the house by now" May 19 CNBC: Home construction sees biggest drop since pandemic hit. Here’s why Kiplinger: What Happens if You Missed the Tax Deadline? USA Today: 'The DNA of work has changed': Many Americans want to keep working from home after the COVID-19 crisis passes May 18 NPR: Biden, Harris Release Tax Returns In Return To Tradition The New York Times: Inflation Fears Abound as Gas and Lumber Shortages Bite. Should the Fed Worry? Forbes: Supreme Court Hands Victory To Tax Advisors—And Loss To IRS—In CIC Services Case May 17 Bloomberg: U.S. Tax Day Arrives Late With IRS Behind on Millions of Returns CNBC: Small business owners missed out on thousands of dollars in loans when PPP funding ran out early MarketWatch: Jammed and distorted’: investors are wrestling with inflation that may test the Fed’s framework May 16 CBS News: IRS starts sending refunds to those who overpaid taxes on unemployment benefits May 15 Yahoo! News: States Revive Rule Requiring Jobless to Seek Work or Lose Their Benefit May 14 CNN: Nearly 2 million Americans will lose pandemic unemployment benefits early as more Republican states drop relief Forbes: Cities Can Use Their Federal Stimulus To Cover Up To $25,000 In Hazard Pay For Grocery Store And Other Essential Workers Politico: U.S. unemployment claims drop to 473,000, a new pandemic low May 13 Yahoo! Finance: Jobless claims preview: Initial filings likely dipped to a new pandemic era low last week CNBC: Memorial Day travel to soar 60% even as gas hits $3 a gallon MarketWatch: U.S. inflation soars in April to 13-year high, CPI shows, and reveals fresh stress on the economy May 12 CNBC: Unemployed Americans thought they’d receive benefits until September. Now that aid is in jeopardy Reuters: Amazon wins court fight against $303 million EU tax order, Engie loses Associated Press: EXPLAINER: Why are fears of high inflation getting worse? May 11 Fast Company: In the race to attract service workers, Chipotle says it will pay a higher minimum wage CNBC: Biden urges employers to boost wages but warns workers they’ll lose unemployment pay if they reject jobs Forbes: Could Another $1,400 Stimulus Check Arrive—This One, From Your State? May 10 Yahoo! Finance: Social Security Cost-of-Living Adjustments Aren’t Enough to Pay Higher Costs for Seniors Politico: Lockdown mentality still holding the economy back, banking official says Associated Press: After years, court hands tax win to Michael Jackson heirs May 9 The Wall Street Journal: Higher Prices Leave Consumers Feeling the Pinch May 8 CNBC: At least 7 million people are likely to get unemployment tax refunds May 7 CNBC: Jobless claims tumble below 500,000 in another sign the labor market is getting closer to pre-pandemic levels Forbes: The King Of Pop Beats The IRS In Tax Court Estate Case CNN: South Carolina and Montana to end all pandemic unemployment benefits for jobless residents May 6 Fast Company: The CDC’s eviction moratorium was overturned: Here’s what that means for renters CNBC: More than 1 million new $1,400 stimulus checks have been sent. Here’s who got a payment Yahoo! Finance: ADP National Employment Report: Private Sector Employment Increased by 742,000 Jobs in April May 5 The New York Times: The Paycheck Protection Program is out of money and closed to most new applications. USA Today: Here's how you can apply to the FCC for the $50 discount on your broadband bill The Hill: IMF warns global tax deal 'urgently needed' to avoid potential trade war May 4 Forbes: How The Gates’ Split Could Stack Up Against The Biggest Billionaire Divorces CNBC: Tax refunds on $10,200 of unemployment benefits start in May. Here’s who’ll get them first Fast Company: IRS tax refund delay: Still calling the phone number? Here’s why you can’t get through May 3 The Hill: Five things to know about the coronavirus relief laws ahead of Tax Day Yahoo! Finance: Rich Americans Fleeing Tax Hikes May Turbocharge Shift to ETFs Forbes: Using Robinhood Could Cost You Thousands In Taxes, Here’s Why May 2 Financial Times: Largest economies forecast to regain pre-Covid levels by end of year May 1 Yahoo! Finance: IRS Extends Tax Deadlines for Alabama and Kentucky Storm Victims April 30 CNBC: Uber, Lyft, DoorDash stocks close down after U.S. Labor secretary says gig workers should be classified as employees NBC News: U.S. economy grew at 6.4 percent annual rate in first quarter as consumer spending drives robust recovery Department of Justice: Tax Collector Embezzled a Million Dollars from Township & School District, Filed a False Tax Return April 29 The Wall Street Journal: U.S. Economy Appears to Be Lifting Off CNN: Women lost $800 billion in income last year. That's more than the combined GDP of 98 countries Yahoo! Finance: Jobless claims preview: New filings likely fell to a fresh pandemic-era low April 28 USA Today: Biden to propose $1.8 trillion 'families plan' with paid leave, child care, universal pre-K, free community college Reuters: U.S. consumer confidence soars to 14-month high; house prices accelerate CBS News: Some middle-class families will have a tax rate of zero this year — or less April 27 CNN: Biden to raise minimum wage for federal contractors to $15 an hour AP: Even as economy heats up, Fed to stick with near-zero rates Forbes: 10 Numbers That Sum Up The Dire Backlog At The IRS—And Its Impact On Taxpayers—As The May 17th Deadline Approaches April 26 Forbes: Oscar Celebs Get Free Gifts Worth $205K, Pay 50% Tax CNN Business: Companies that thrived during Covid hope customers stick around post-pandemic USA Today: Collecting unemployment for a year? You may need to reapply to keep getting benefits. April 25 Fast Company: Still waiting for a paper stimulus check from the IRS? It could be on the way in this new batch April 24 CNBC: If you filed your taxes early, when will you get refunded for the $10,200 unemployment tax waiver? April 23 Bloomberg: Biden Eyeing Tax Rate as High as 43.4% in Next Economic Package Reuters: U.S. weekly jobless claims hit 13-month low; home sales tumble Accounting Today: IRS offers safe harbor for claiming PPP loan deductions April 22 Reuters: Biden offers tax credits for COVID-19 vaccination paid time off CNN Business: Nearly 10% of American families struggled with unemployment last year USA Today: Unemployment $10,200 tax break: Some may need to amend returns for tax refunds April 21 USA Today: Flush with cash, affluent Americans are chasing million dollar listings Fast Company: ‘We’re suffering in limbo’: Theater owners are getting more desperate as SBA grant portal remains closed CNBC: Unemployment benefits cut short for more than 300,000 during pandemic, study says April 20 CNN Business: Consumers have $5.4 trillion in excess savings. That could unleash a global spending boom Forbes: Self-Employed In 2020? Make Sure You Consider This Valuable Tax Credit Accounting Today: IRS cracks down on prisoner tax fraud and identity theft April 19 CNBC: The post-pandemic spending spree has begun. Here are 6 things Americans are buying Bloomberg Tax: Stacking Paycheck Protection Program and Employee Retention Credit AP News: Half of US adults have received at least one COVID-19 shot April 18 CNN Business: Remote workers can get paid $12,000 to move to West Virginia April 17 Fast Company: Surprise! New stimulus checks are showing up for some taxpayers, but they’re not from the IRS CNBC: Workers are a year into collecting unemployment benefits. It’s causing problems April 16 Forbes: 4 Ways For The Self-Employed To Save For Retirement And Minimize Taxes CNBC: IRS is sending more ‘plus-up’ stimulus payments to taxpayers who already filed their 2020 tax returns NPR: Signs Of Economic Boom Emerge As Retail Sales Surge, Jobless Claims Hit Pandemic Low April 15 CNBC: Retail sales explode in March as consumers use stimulus checks to spend heavily Yahoo! Finance: Initial jobless claims drop to fresh pandemic-era low of 576,000 Fast Company: Still no IRS stimulus check? The latest timeline, recent tax filers, SS, VA, and plus-up payments April 14 Politico: IRS chief says some $1T in taxes going uncollected annually CNBC: New $3,000 child tax credit to start payments in July, IRS says MarketWatch: Small businesses grow more optimistic after states lift restrictions — but hiring is a big problem April 13 CNBC: Some states require amended tax returns for $10,200 unemployment tax break refunds Yahoo! Finance: These states procrastinate the most on taxes Reuters: Dollar edges up before U.S. inflation data April 12 Forbes: Why Tax Refunds Are Taking Longer Than Usual CBS News: Half of S&P 500 report more money for foreign taxes than U.S. taxes CNN Business: Amazon defeated the union vote. What happens next? April 11 CNBC: U.S. small business closures are ticking back toward Covid pandemic highs April 10 USA Today: A year after COVID, personal finances are not so grim for millions of Americans April 9 CNBC: IRS will start sending tax refunds on up to $10,200 in unemployment insurance in May. Here’s who qualifies April 8 The Washington Post: Employee benefits in the post-vaccine world are changing April 7 Fast Company: IRS stimulus check update: What is a ‘plus up’ payment and am I eligible to get one? The Hill: Job op

MarketWatch: Walmart is hiring 20,000 seasonal workers — here’s how a seasonal job could affect your unemployment benefits CNBC: House Democrats prepare new $2.4 trillion stimulus plan with unemployment aid, direct payments September 24 CNN: Congress poised to leave town until after the election without passing coronavirus stimulus Yahoo! Finance: U.S. business activity slows, house price inflation accelerates Accounting Today: IRS says lenders don’t need to report PPP loan forgiveness The Hill: Remote work poses state tax challenges CNBC: Weekly jobless claims rise unexpectedly as stimulus boost fades September 23 The New York Times: Uber and Lyft Could Gain From U.S. Rule Defining Employment ABC News: House passes short-term spending bill to avoid government shutdown CNBC: $300 unemployment benefits end in at least 9 states as stimulus hopes fade USA Today: Restaurant chain Sizzler files for Chapter 11 bankruptcy, citing impact of COVID-19 pandemic CNN Business: Walmart, UPS and others are staffing up for an online shopping surge this holiday season September 22 CNN Business: Six months into the pandemic, the US economic outlook is getting gloomier The Hill: DC investing $4M to help small businesses winterize outdoor dining areas CNBC: ‘We are stuck, with little to no options’: 6 months after the CARES Act passed, many Americans are still struggling September 21 USA Today: U.S. could slip into double-dip recession if Congress doesn't pass new stimulus, some economists say Forbes: What Happens If There Is No Second Stimulus Package? MarketWatch: 165 Million Americans Will Witness a Social Security First in 2021 September 20 The Hill: Airline CEOs plead with Washington as layoffs loom Forbes: The 2020 Housing Boom Is A Perilous Economic Signal CNBC: Coronavirus recession ends for the rich but is far from over for lower-income communities September 19 CNBC: The list of countries where travelers can go live and work remotely is growing The Wall Street Journal: No Job, Loads of Debt: Covid Upends Middle-Class Family Finances Yahoo! Finance: Wait, it's September and you still haven't received your tax refund? Here's why September 18 Fast Company: 60% of shuttered businesses on Yelp will never reopen The Hill: CBO: COVID-19 rescue packages saved 4.7 percent in GDP CNBC: Airline CEOs meet with White House in last-minute plea for more coronavirus aid September 17 CNBC: Trump suggests he could back a bigger coronavirus stimulus as top aide says he’s more optimistic about a deal The Wall Street Journal: U.S. Unemployment Claims Held Steady at 860,000 Last Week Bloomberg:When to Stop Working From Home? How About Never, Workers Say Yahoo! Finance: Fed signals interest rates to stay near-zero through 2023 September 16 CNBC: Yelp data shows 60% of business closures due to the coronavirus pandemic are now permanent The Hill: Businesses, states pass on Trump payroll tax deferral Forbes:There’s A New Tax Form - With Some Changes - For Freelancers & Gig Workers Fast Company: Your HR manager is now your nurse, hall monitor, and remote IT liaison September 15 NBC News: Didn't receive a stimulus check? The IRS wants to help you. Forbes: Mnuchin Says More Stimulus Needed—Don’t Worry About The Deficit CNBC: Americans are raiding retirement savings during coronavirus pandemic September 14 CNN: JCPenney could be doomed, even as malls race to save it The New York Times: Payroll Tax ‘Cut’ Fizzles NPR: As Auto Industry Roars Back, Worker Shortages Throw Up Roadblocks USA Today: More workers hit with pay cuts than in last recession, and stagnant wages could linger September 13 Forbes: IRS Releases New Per Diem Rates For Taxpayers Who Travel For Business Fast Company: Extra $300 unemployment update brings bad news from FEMA about the end of benefits CNBC: Why third-quarter taxes are confusing for small businesses in the Paycheck Protection Program September 12 Business Insider: Trump's $300 unemployment benefit is expiring with nearly 30 million Americans still on unemployment Forbes: Your First Look At 2021 Tax Rates: Projected Brackets, Standard Deductions & More CNBC: Movie theaters rushed to reopen, but now there are no blockbusters to play September 11 CNBC: At least 20 states start paying the extra $300 weekly unemployment benefit ESPN: Ex-New York Jets WR Josh Bellamy charged in $24 million coronavirus relief loan scheme CNN Politics: After negotiations falter, Senate fails to advance Republican bill addressing coronavirus pandemic The Hill: IRS to offer tax filing form in Spanish for the first time CNBC: Goldman now sees a 35% jump in Q3 GDP, much higher than the rest of Wall Street September 10 CNBC: Weekly jobless claims miss estimates as employment gains taper Yahoo! Finance: There's a 'staggering shortage of homes on the market': economist The Hill: Dozens of Austrians with no US affiliation get coronavirus stimulus checks: report CNBC: Mall owners Simon, Brookfield set to rescue JC Penney from bankruptcy in $800 million deal September 9 The Hill: Senate to vote Thursday on GOP coronavirus bill CBS: IRS: Up to 9 million people need to claim federal stimulus checks Yahoo! Finance: Coronavirus stimulus: What’s in Senate Republicans’ pared-down relief bill CNN Business:JPMorgan investigates employees over potential misuse of PPP loans September 8 CNBC: Labor Day weekend air travel hits nearly 6-month high, but holiday caps dismal summer season The Hill: Senate to vote on scaled-down coronavirus relief package Fast Company: Will companies open back up after Labor Day? Business executives reveal their plans September 7 The Hill: Five things to know about Trump's payroll tax deferral Forbes: Second Stimulus Check Update—Congress Returns To Session Tomorrow CNBC:These restaurant chains are unveiling new designs inspired by the pandemic September 6 Business Insider:Global economies are 'several quarters' away from returning to pre-pandemic levels NBC News: August jobs report may appear rosy, but most job cuts have yet to hit, economists warn Politico: ‘A tale of 2 recessions’: As rich Americans get richer, the bottom half struggles September 5 CNN:US adds 1.4 million jobs in August, but is still down 11.5 million jobs since Covid hit The Hill: Labor Day caps dismal summer for travel and tourism Forbes: The Payroll Tax Holiday Is Not A Tax Cut. Here’s Why It Matters September 4 The New York Times:Unemployment Claims Show Layoffs Continue to Batter Economy The Hill: Florida man accused of misusing $2M coronavirus small business loan to buy boat CNBC: Most American vacationers plan to spend the Labor Day weekend working, survey finds September 3 USA Today: Number of Americans seeking jobless aid remains high as economy struggles with COVID-19 AOL: Coronavirus stimulus: Extra unemployment benefits remain stalled as executive actions fail to replace negotiations The Hill: Social Security trust fund to run out by 2031: CBO September 2 Reuters: Thousands of small-business loans may have been fraudulent, U.S. House panel finds CNBC: Job growth expected to slow sharply over the next decade, Labor Department says NPR: Making Gyms Safer: Why The Virus Is Less Likely To Spread There Than In A Bar CNN Business: It's been 6 months of working from home. Here's what we've learned September 1 CNBC: The payroll tax deferral takes effect Sept. 1. What it really means for your paycheck The Hill: Treasury: 70 percent of stimulus payment money sent to dead people has been recovered MarketWatch: Americans are spending less at grocery stores as second round of stimulus checks remain on hold August 31 The New York Times: Bill for Trump’s Tax Holiday Will Be Due Next Year, Treasury Dept. Says CNN: These businesses are making more money because Americans are staying home Forbes: Stimulus Deal Getting Closer, But There's More Work To Be Done August 30 CNN: Here's what the payroll tax deferral action means for you Forbes: COVID Shutdowns Crushed Home Furnishings And Furniture Stores. The Squeeze Will Continue. CNBC: Homeowners, in foreclosure, will also face tax implications. What you should know August 29 CNBC: IRS guidelines put employers on the hook for Trump’s payroll tax break The Hill: Americans saved nearly $91 billion by working from home during pandemic: report Forbes: Questions Remain After IRS Rolls Out Guidance On Payroll Tax Deferral August 28 The New York Times: White House Wants Companies to Foot Payroll Tax Bill for Workers CNBC: 25% of U.S. malls are expected to shut within 5 years. Giving them a new life won’t be easy Reuters: U.S. Labor Department changes jobless claims data methodology after economic shock The Hill: Consumer spending slowed in July as coronavirus surge dampened recovery August 27 Forbes: New PPP Rules From SBA Aimed At Clarifying Loan Forgiveness The New York Times: Airline Job Cuts Could Pressure Congress and Trump on Stimulus CNBC: Another million applied for jobless benefits as coronavirus pandemic’s economic toll rises August 26 CNBC: More pain ahead for landlords as restaurant bankruptcies poised to balloon in coming months Forbes: IRS To Mail 50,000 Stimulus Checks Next Month USA Today:'We shouldn’t have to beg': Americans struggle without unemployment aid as Congress stalls on extending benefits August 25 CNN: Tracking America's economic recovery during coronavirus Forbes: Sorry America, But The Second Stimulus Check May Not Happen After All Politico: Economy hurting after Congress fails to act on stimulus The Hill: Survey: One-fifth of small businesses will close if conditions don't improve August 24 Politico: Not just a low-wage recession’: White-collar workers feel coronavirus squeeze Bloomberg: Goldman Says Almost a Quarter of Temporary Layoffs in U.S. to Be Permanent CNBC: Economists see a chance of a double-dip recession, survey shows August 23 CNN: Jobless Americans surviving on less than $200 a week in some states -- and urging Congress to act Fast Company:Extra unemployment and stimulus check update: A few states are sending out aid this week CNC: Struggling retailers rush to file for bankruptcy as fears of a second wave of coronavirus linger August 22 CNN: American Airlines is dropping service to these 15 cities. This is likely only the beginning Deadline:Unemployment Funds For California Approved By FEMA, But When You’ll See It Is In Question The Hill: Mortgage delinquencies of at least 90 days rise to highest level in 10 years August 21 Forbes: IRS Releases Draft Form 1040: Here’s What’s New For 2020 The Hill: Uber, Lyft granted emergency stay of injunction requiring drivers be reclassified in California CNBC: Why there’s still hope for second $1,200 stimulus checks despite stalled congressional talks August 20 Fast Company: My startup made difficult layoffs. Here’s how I kept morale up and our culture intact USA Today: IRS to distribute tax refund interest checks to taxpayers who filed 2019 returns on time CNBC: U.S. Jobless Claims Rise to More Than 1 Million August 19 CNBC: 7 states approved to offer extra $300 weekly unemployment benefits Forbes: 30 U.S. Business Associations Call Trump's Executive Order Deferring Payroll Tax Obligations 'Unworkable' The New York Times: Uber and Lyft Consider Franchise-Like Model in California CNN Business: Housing market is still going strong and propping up the economy CNBC: Walmart says consumer spending dropped as stimulus checks ran out August 18 Accounting Today: IRS offers reprieve for taxpayer checks caught in backlog of unopened mail MarketWatch: Boeing offers workers a second round of voluntary layoffs CNBC: $300 unemployment boost may last for only for 3 weeks Forbes: A Tiny Silver Lining From The Pandemic: Small Businesses Are Expanding Bloomberg: FHA Mortgage Delinquencies Reach a Record, Led by New Jersey August 17 The New York Times: The Week in Business: Unemployment Checks Get Chopped CNBC: A flood of job losses looms as airline industry struggles in pandemic Forbes: Columbia Announces Undergrads Will Study Remotely, Latest College To Reverse Course August 16 CNN Business: Uber and Lyft could shut down in California this week. It may not help their cause The Motley Fool: Working Remotely During Coronavirus? Prepare for This Tax Surprise CNBC: ‘It’s nerve-racking’ — Millions of Americans are still furloughed and unsure when they will return to work August 15 CNET: Some people will receive an interest payment from the IRS in 2020. See if you'll get one Fast Company: Unemployment extension update: Is the extra benefit $400 or $300? What’s taking so long? CNBC: House lawmakers met with White House on stalled coronavirus relief talks August 14 CNBC: Coronavirus stimulus stalemate could drag on for weeks as Congress leaves town The Wall Street Journal: Trump’s Payroll-Tax Deferral Plans Spur Confusion The Hill: July retail sales slow to 1.2 percent, below expectations MarketWatch: ‘It’s a huge decision’: Judge hands a win to businesses demanding insurance coverage for lost income due to coronavirus August 13 Fast Company: Will Uber shut down in California? CEO Dara Khosrowshahi threatens just that The Hill: Tax preparers warn unemployment recipients could owe IRS CNBC: PPP loan forgiveness starts this week. Why some businesses aren’t rushing to apply CNN: Business: First-time jobless claims fall below 1 million for the first time since March August 12 The Hill: Corporate bankruptcies on pace for 10-year high Politico: Derailment of small business rescue clouds U.S. recovery Vox: How the beauty industry is surviving the pandemic August 11 CNBC: Judge grants preliminary injunction requiring Uber and Lyft to stop classifying drivers as contractors The Motley Fool: How Bad Did Unemployment Get During the Great Recession? The Hill: Clorox president says company ships nearly 1 million packages of wipes daily Entrepreneur: Facebook Offers Employees $1K, Extends Work From Home Policy to July 2021 CNBC: Companies are talking about turning ‘furloughs’ into permanent layoffs August 10 The Wall Street Journal: Millennials Slammed by Second Financial Crisis Fall Even Further Behind CNN: Breaking down the executive actions Trump signed on coronavirus relief Politico: Businesses blast key Fed program, saying banks not interested in lending August 9 Yahoo! News: Trump allows some unemployment pay, defers payroll tax Fast Company: For 10% of the workforce, working from home could be here to stay CNN Business: The reality of the US jobs rebound: Part-time work and less pay August 8 CNN:Stimulus talks break down on Capitol Hill as negotiators walk away without a deal The Hill: PPP application window closes after coronavirus talks deadlock CBS News: Restaurants lobby Congress for $120 billion "lifeline" as thousands face permanent closure August 7 CNN: Stimulus talks on the brink of collapse as two sides trade blame and get no closer to a deal The New York Times: Amid Dire Jobless Numbers, Small-Business Relief Program Nears End MarketWatch: 4 million older workers will be pushed out of the workforce by October The Hill: DOJ charges five for more than $4M PPP fraud scheme August 6 Forbes: SBA Makes Further Changes To PPP Rules In August 4th FAQs CNN: Working from home? You might owe income tax to two states Reuters: U.S. job market recovery appears to be slowing, services sector powering ahead CNBC: U.S. weekly jobless claims total 1.186 million, lowest level of the coronavirus pandemic August 5 Bloomberg: White House, Democrats Aim for Virus Relief Deal by End of Week CNBC: Paychex CEO says small business employment is starting to look like April again Yahoo! Finance: Over 100 CEOs beg Congress: Don't let small businesses fail permanently Entrepreneur: This Founder Gave Away Profits During the Pandemic - And His Company Thrived Bloomberg: ADP’s U.S. Job Data Misses Estimates, Signaling New Virus Drag CNBC: Booking.com is laying off up to 25% of its workforce due to coronavirus downturn August 4 The New York Times: Small Businesses Got Emergency Loans, but Not What They Expected CNBC: Nearly half of all furloughed workers now believe their temporary layoff will become permanent Bloomberg: Bankruptcies Rip Through U.S. Mall Tenants With No End in Sight The Wall Street Journal:Covid-19 Hastens the Work-at-Home Revolution The Hill: Air travel picks up alongside strict mask enforcement August 3 Reuters: White House, Congress talks on COVID-19 bill to resume Monday afternoon The Washington Post:Lord & Taylor, the country’s oldest department store chain, files for bankruptcy CNN Business: These companies are working from home until 2021 -- or forever USA Today: Lowe's giving out COVID-19 relief grants up to $20,000 for small businesses through nonprofit LISC August 2 The New York Times: U.S. Small Business Bailout Money Flowed to Chinese-Owned Companies Forbes: Update: $1,200 Stimulus Check? Likely. $600 Unemployment Benefit? Not So Fast CNBC: Retail rents plummet across New York City, as America’s glitzy shopping districts turn into ghost towns August 1 CNBC: Tax hike on California millionaires would create 54% tax rate CNN Business: August rent is due. Here's what to do if you can't pay it The Hill: Consumer spending rises in June despite falling incomes, surging virus cases July 31 Politico: Millions to lose $600 weekly jobless aid amid Senate stalemate CNBC: Restaurants are in ‘fight mode’ as they cope with pandemic, Dunkin’ Brands CEO says Vox: Thursday’s historically bad economic growth numbers, explained CNN Business: This is the only city in America where unemployment is actually down July 30 Bloomberg: U.S. Is About to Unveil the Ugliest GDP Report Ever Recorded CNBC: Fed holds rates steady, says economic growth is ‘well below’ pre-pandemic level Forbes: Second Stimulus Unemployment Update: More Than 30% Of Americans Couldn’t Last A Month Without $600 Checks CNBC: A third of small-business owners have tapped personal funds to stay afloat, survey finds Los Angeles Times: Coronavirus-induced 32.9% collapse in GDP is one for the record books CNN Business: Unemployment claims rise for second week in a row July 29 CNN: Man spent PPP funds on hotels, jewelry and $318,497 Lamborghini, authorities say Business Insider: The $600 unemployment bonuses did not lead to people working less, Yale study finds Washington Post: Here is what’s in the Senate GOP’s $1 trillion ‘Heals Act’ package The New York Times: Uber and Lyft Drivers Win Ruling on Unemployment Benefits Reuters: Rising COVID-19 cases dent U.S. consumer confidence; housing market presses ahead Forbes: Simplifying The PPP Loan Forgiveness Process July 28 CBS News: Senate GOP outlines next coronavirus relief bill as deadline for enhanced unemployment benefits nears Bloomberg: Thousands of $600 Checks Never Made It to Unemployed Americans Reuters: Siemens to let staff spend less time in the office permanently US News & World Report: The $600 Unemployment Insurance Boost Is Expiring: Here's What to Know CBS News: Does extra $600 in federal jobless aid really discourage people from returning to work? July 27 The Hill: White House, Senate GOP race to finalize coronavirus package ahead of Monday rollout CNBC: How firms are keeping staff and secrets safe from hackers now everyone is working remotely The Washington Post: GOP, White House aim to temporarily reduce weekly unemployment benefit from $600 to $200 MarketWatch: Google to keep employees at home until next year, the WSJ reports CNN Business: Here's what the Twitter hack tells us about potential security risks of working from home Bloomberg: McConnell’s Release of GOP Relief Plan Is Starting Gun for Talks July 26 The Hill: Slip in job growth raises fear of broader relapse Forbes: Next Stimulus Package on Monday: $1,200 Stimulus Check, Eviction Moratorium, and Reduced Unemployment Aid In CARES 2 Act CNBC: Gig workers are finding it harder to make money as surging unemployment drives up competition July 25 The Hill: Pelosi suggests House could stay in session longer to complete COVID-19 relief bill The Motley Fool: Three ways the coronavirus-caused recession could affect Social Security and your retirement CNBC: Airlines lose billions as demand ‘stalled,’ CEOs warn recovery hinges on a coronavirus vaccine Politico: 40 million Americans face student loan cliff July 24 Vox: How the coronavirus outbreak is roiling the film and entertainment industries Politico: Housing market defies expectations amid economic turmoil CNBC: Mnuchin says GOP plan for unemployment extension will be based on ’70% wage replacement’ Newsweek: GOP to Propose Another Round of $1,200 Stimulus Checks–Who Will Be Eligible? July 23 NBC News: For the first time in 30 years, Walmart will be closed on Thanksgiving The Hill: White House, senior Republicans pour cold water on short-term unemployment extension CNN Business:The economy is in deep trouble again. Coronavirus is to blame MarketWatch: U.S. new jobless benefit claims rise for first time since late March CNBC: 59% of Americans don’t plan to renew their gym memberships after Covid-19 pandemic: survey July 22 CNBC: Billionaires in New York could pay $5.5 billion a year under new tax The Hill: CDC: US coronavirus infections likely 10 times higher than reported Forbes: Stimulus Package Update: Republicans Unite On Second Stimulus Check, Balk Over Payroll Tax Cut The New York Times: End of $600 Unemployment Bonus Could Push Millions Past the Brink July 21 CNBC:$600 unemployment boost. Stimulus checks. Government relief is coming to an abrupt end Bloomberg:Biden Proposes $775 Billion Plan Funded by Real Estate Taxes Fast Company: The coin shortage is so bad, banks will now pay you extra for change CNN: Where did $380B in PPP money go? July 20 The Hill:Congress set for showdown on coronavirus relief legislation CNBC: U.S. air travel falls for first week since April as coronavirus cases spike The Washington Post: Trump demands payroll tax cut while GOP eyes benefit cuts for unemployed The Motley Fool: 72% of Americans Think Our Current Recession Will Last Into 2021. Here's How to Prepare for That July 19 CNN: This is the last week of $600 unemployment benefits Huffington Post: Steve Mnuchin Already Wants To Forgive Billions In PPP Loans CNBC: A risky bet by America’s mall owners: Plucking retailers out of bankruptcy to salvage a pandemic-hit industry July 18 CNBC: These business owners got a PPP loan. It may not be enough The Hill: GOP looks at reducing unemployment enhancement to $200-$400 per week: report The Motley Fool: Missed the Tax-Filing Deadline? Here's What You Need to Know. July 17 CNBC: Weekly jobless claims rise by more than 1 million for 17th straight week The Hill: More than 100 lawmakers urge IRS to resolve stimulus payment issues CNN Business: What happens when small businesses can't pay the rent Forbes: The ‘Dirty Dozen’ Tax Scams Of 2020: $27 Billion Hit To Business The Washington Post: White House warns stimulus package ‘must’ include Trump payroll tax cut proposal CBS News: 1 in 3 small businesses worldwide cut jobs during coronavirus pandemic July 16 The Hill: Major retailers impose mask mandates for customers nationwide Reuters: U.S. Paycheck Protection hit some of its mark, but missed the most vulnerable Fortune: This is what the stock market would look like if the CARES Act never happened CNBC: How to restart unemployment benefits if your workplace shuts down again Yahoo! Finance: Twitter Races to Unravel How Cyber-Attack Came From Inside July 15 Forbes:SBA EIDL Program: Advances No Longer Available But Favorable Loans Still Being Granted CNBC:Minimum wage workers cannot afford rent in any U.S. state The Hill:Apple wins $15B EU tax case Forbes: New Stimulus Package May Be Introduced Next Week The Wall Street Journal: Why Your Tax Refund May Be Late This Year July 14 CNBC: ‘Tax us’: Ultra-rich call for higher taxes to aid coronavirus recovery Vox: The PPP worked how it was supposed to. That’s the problem. The Washington Post: Workers are pushed to the brink as they continue to wait for delayed unemployment payments Yahoo! Finance: Majority of Americans think Congress should extend enhanced unemployment benefits past July: poll CBS News:23 million Americans could face eviction in coming months Forbes: Why You Might Want To Contribute To A Roth IRA By July 15th July 13 Fast Company: 7 things to know about the IRS tax deadline on Wednesday Vox: College towns without college students have small businesses struggling CNBC: This city is giving residents $500 per month. Some hope it can become a national plan July 12 CNN Business: These workers' jobs are most at risk around the world Politico: Nightlife facing crisis in the city that never sleeps CNBC: Here are five charts illustrating U.S. economic trends amid the coronavirus pandemic July 11 US News & World Report:COVID-19 Heroes Must Jump Through Hoops for Workers' Comp Fox Business: A second coronavirus stimulus check? Here's when Americans could receive the cash The Motley Fool:Why Didn't More Small Businesses Apply for PPP Loans? The Hill: Trump tells Treasury to review universities' tax exempt status July 10 CNBC: Big restaurant chains are recovering faster than the rest of the industry, Bank of America says Forbes: Second Stimulus Checks Will Come Fast If Approved, But Fewer People May Receive Them Fast Company:$600 unemployment benefit: Will it be extended? Here’s the latest as Congress drags its feet CNBC: U.S. producer prices unexpectedly fall in June July 9 CBS News: Jobless claims remain high, with 2.3 million seeking aid last week CNBC: Empty Manhattan apartments reach record levels, landlords slash rent Forbes: America’s Economy Is Taking Another Hit As Coronavirus Cases Surge And Businesses Shut Down Again The Motley Fool: There May Be a $1 Trillion Stimulus Package in the Works CNBC: You may soon lose unemployment benefits — and that extra $600 a week — if you’re not hunting for jobs July 8 Business Insider: We may be getting closer to a 2nd stimulus check, but several key details are still unclear Vox: Congress’s Covid-19 rescue plan was bigger than the New Deal. It’s about to end. Accounting Today: Accountants predict 2020 will be worst year for economy since World War II CNET: Extra $600 CARES Act unemployment benefit ends July 31. Here what you should know The Hill: Five takeaways from PPP loan data July 7 The Hill: TSA: July 4 weekend air travel down 70 percent compared to last year CNBC: 13 million gig workers getting unemployment benefits, 41% of the total NBC News: Here are some of the billionaires who got PPP loans while small businesses went bankrupt Forbes: Second Stimulus Checks Now Possible, Says McConnell NPR: 'We Need Help': People At Higher Coronavirus Risk Fear Losing Federal Unemployment July 6 The Motley Fool: 5 Reasons a Second Stimulus Will Be Passed in July The Hill: IRS, taxpayers face obstacles ahead of July 15 filing deadline Fast Company: COVID-19 timeline: Track your state’s reopening plan along with new local outbreaks NBC News: College students are preparing to return to campus in the fall. Is it worth it? Yahoo! Finance: U.S. service sector rebounds strongly in June July 5 Bloomberg: Goldman Lowers U.S. GDP Forecast, Sees 4.6% Contraction in 2020 The Wall Street Journal: Don’t Know How Much Stimulus Is Needed? Put it on Autopilot, Some Say Forbes: Second Stimulus Checks And Student Loan Forgiveness Could Be Coming July 4 The Hill: Congress eyes tighter restrictions on next round of small business help CNBC: Bar owners reckon with costly stop and starts as states close them down again Politico: Rent cliff looms in July as eviction moratoriums expire July 3 The Hill: Congress gears up for battle over expiring unemployment benefits Politico: Congress stares down funding cliff for coronavirus aid The Hill: House votes unanimously to extend deadline for coronavirus small-business loan program July 2 The Guardian: Is it ethical for businesses to raise prices amid Covid-19? Of course it is Politico: Employment won't recover for a decade, CBO says The Hill: New COVID-19 surge dashes travel industry's hopes for July 4 weekend July 1 CNBC: June private payrolls rose 2.37 million and there was a big positive revision for May, ADP says Journal of Accountancy: Senate approves 5-week PPP extension Small Business Trends: 80% of Small Business Owners Say Pandemic Hurt Business – 55% Feel Positive About Future June 30 The Paychex: IHS Markit Small Business Employment Watch June 29 CNBC: Top CEOs see business impact from coronavirus lingering until at least the end of 2021 June 28 U.S. Census Bureau: Weekly Census Bureau Survey Provides Near-Real-Time Info on Businesses June 27 CPA Practice Advisor: With July 15 Deadline Approaching, 37% of Taxpayers Can't Pay Because of Covid June 26 Business Insider: 8 states and cities are pausing their reopenings as coronavirus cases spike — here's how their plans are changing Yahoo! Finance: More Than $38 Billion in PPP Loans for Small Firms Canceled CNN: Unemployment claims have fallen for 3 months, but millions still need jobless benefits The Wall Street Journal: Small Businesses Raced to Spend PPP Funds but Covid-19 Pandemic Drags On The New York Times: Is a Pandemic the Right Time to Start a Business? It Just Might Be June 25 The Wall Street Journal: U.S. Initial Jobless Claims Steady at 1.5 Million in Latest Week Politico: The IRS thought it wasn't allowed to withhold stimulus checks from the dead. So it paid more than 1 million of them. The Hill: IRS to pay interest on refunds issued after April 15 CNBC: Small businesses expect to fail. Here’s what will happen to their PPP loans. Reuters: U.S. layoffs remain elevated as weak demand persists after businesses reopened Politico: California to escalate legal battle with gig companies over worker classification June 24 CNBC: 14% of businesses expect layoffs after using their PPP loan funds Journal of Accountancy: PPP recipients can apply early for loan forgiveness, SBA says The Hill: New home sales rose more than 16 percent in May The New York Times: I.M.F. Predicts Deeper Global Downturn Even as Economies Reopen CNBC: Millions of Americans will fall off an ‘income cliff’ when extra $600 in unemployment benefits ends next month June 23 CNBC: Former Wirecard CEO arrested as embattled payment firm’s accounting crisis deepens Forbes: Justice Department Announces Another PPP Fraud Charge CNN: Square has started keeping 30% of some retailers' payments at the worst possible time USA Today: Bye $600 jobless benefit, eviction reprieve, cash for small firms. COVID-19 relief ending. CNBC: Here’s why you haven’t received your tax refund June 22 Forbes: What PPP Loan Borrowers Should Consider When Choosing Between The 8 Or 24 Week Forgiveness Period The Hill: Small businesses falling behind in economic recovery The New York Times: New Hope for White-Collar Job Seekers? It Depends on the Job CNBC: U.S. banks are ‘swimming in money’ as deposits increase by $2 trillion amid the coronavirus June 21 CNBC: Here are five charts that track how the U.S. economy is recovering from coronavirus USA Today: IRS expands criteria to withdraw money from retirement plans for those affected by coronavirus MarketWatch: If You're Getting a Second Stimulus Check, It'll Probably Happen by Aug. 8 June 20 Forbes: Here’s How Badly The Coronavirus Has Impacted Americans’ Personal Finances The New York Times: Vast Federal Aid Has Capped Rise in Poverty, Studies Find Stanford Business: The Graceful Exit: How to shutter a business when the pandemic forces closure. June 19 The Wall Street Journal: A New Guide to Air Travel During Coronavirus Fast Company: Searching for stimulus check updates on Google? Be careful what you click on Grow: Average stimulus check was $1,800 but it wasn’t enough, study finds, and 25% of people had issues MarketWatch: Self-employed and considering a PPP loan? There’s good news for you June 18 CNBC: Jobless claims total 1.5 million, worse than expected as economic pain persists Forbes: SBA Finally Clarifies PPP Loan Forgiveness Rules: Full Forgiveness For Self-Employed Borrowers Yahoo! Finance: P

Tax and Financial Insights
by NR CPAs & Business Advisors

Explore practical articles that explain tax strategies, financial considerations, and important topics that may affect your business decisions.

Business Consulting for Restaurants

Business advisory services work by connecting your company with an experienced advisor who reviews your financial position, operations, and goals, then provides ongoing strategic guidance to help you make better decisions. Unlike project-based consulting, advisory is a continuous relationship where your advisor becomes a trusted partner who helps you see around corners and stay ahead of problems. Below, we cover exactly what advisory services include, how the process works from start to finish, what separates advisory from consulting, who benefits the most, and how to choose the right advisory firm for your business.

What Are Business Advisory Services and How Do They Work?

Business advisory services are professional guidance and support that help companies improve financial performance, strengthen operations, and make better long-term decisions. They work through a structured process that starts with a deep review of your business, followed by ongoing advice, planning, and problem-solving that evolves as your company grows.

The advisory relationship is different from a one-time engagement. Your advisor gets to know your business from the inside out and stays involved over months or years, which means they can spot problems early and help you act before small issues become expensive ones. According to a landmark study by the Business Development Bank of Canada (BDC) that analyzed fiscal data from nearly 4,000 companies through Statistics Canada, businesses with advisory support saw their sales grow 66.8% in the first three years, compared to just 22.9% growth in the three years before advisory was in place.

The advisory market is growing fast because more business owners are recognizing this value. According to Verified Market Research, the global business advisory services market was valued at $25 billion in 2024 and is projected to reach $50 billion by 2032, growing at an 8% annual rate. Much of that growth is coming from small and mid-size companies that want experienced business advisory guidance without hiring full-time executives.

What Do Business Advisory Services Do?

Business advisory services do several things at once. They analyze your company's current financial and operational health, identify gaps and opportunities, develop a plan to address them, and then guide you through the execution of that plan. The advisor works alongside you and your leadership team as a strategic partner, not just a hired expert who shows up for a meeting and disappears.

The scope usually covers financial advisory, which includes cash flow management, budgeting, forecasting, and financial reporting. It also covers strategic planning, which means helping you set long-term goals, evaluate growth opportunities, and decide where to invest resources. Many advisory engagements also include operational improvements, risk management, and tax strategy. According to the 2024 CPA.com and AICPA Client Advisory Services Benchmark Survey, CPA firms that offer CFO-level and business insights advisory services earn more than 30% higher monthly recurring revenue than firms that only handle traditional compliance work. That premium exists because clients get significantly more value from ongoing advisory than from basic accounting alone.

We see this in practice every day. The business owner who only has a CPA for tax filing is flying with limited instruments. The owner who also has an advisor watching the full financial picture has a much better view of what is coming and what to do about it. Strong virtual CFO support often serves as the backbone of a broader advisory relationship.

What Are the Types of Business Advisory Services?

The types of business advisory services are financial advisory, strategic advisory, operational advisory, tax advisory, and technology advisory. Each type focuses on a different part of the business, and most growing companies benefit from more than one at different stages.

Financial advisory is the most common type for small businesses. It covers cash flow forecasting, financial statement analysis, budgeting, and capital planning. According to a U.S. Bank study widely cited in small business research, 82% of businesses that fail do so because of poor cash flow management. Financial advisory directly addresses that risk by giving you clear visibility into your money and a plan for how to manage it.

Strategic advisory focuses on the big decisions, like whether to expand into a new market, launch a new product, restructure the business, or prepare for a sale. Operational advisory looks at how the business runs day to day, including processes, staffing, technology, and efficiency. Tax advisory helps you plan proactively to reduce your tax burden throughout the year, not just at filing time. We combine tax advisory with broader financial planning through our tax planning work, because the two are deeply connected.

Technology advisory has grown rapidly in the last two years. According to Mordor Intelligence, technology advisory is expanding at a 6.29% CAGR as businesses seek expertise in AI, cloud transformation, and cybersecurity. For small businesses, this usually means getting help choosing and implementing the right financial software, automating manual processes, and protecting sensitive data.

What Is the Difference Between Business Advisory and Consulting?

The difference between business advisory and consulting is that advisory is an ongoing, long-term relationship focused on strategic guidance, while consulting is a short-term, project-based engagement focused on solving a specific problem. An advisor stays with you over time and helps you think through decisions as they come up. A consultant comes in, solves one thing, and leaves.

Think of it this way: a consultant is a specialist you call when something is broken. An advisor is a partner who helps you keep things from breaking in the first place. Both are valuable, but they serve different needs. According to a 2025 analysis by Jane Gentry Consulting, businesses that invest in advisory services see a 24% increase in long-term profitability compared to businesses that rely only on project-based consulting engagements.

The engagement structure is different too. Consulting usually works on a fixed project fee with a defined start and end date. Advisory usually runs on a monthly retainer with no set end date, because the relationship evolves as the business grows. Many companies start with a consulting engagement to fix a specific problem and then move into an ongoing advisory relationship once they see the value of having a trusted partner involved in their decisions.

We offer both models. A business owner who needs a one-time financial assessment gets exactly that. An owner who wants continuous financial leadership and strategic guidance gets an ongoing advisory relationship through our consulting and advisory practice. The right choice depends on where you are and what you need right now.

Who Needs Business Advisory Services?

Business advisory services are needed by any company that has outgrown the ability of its owner or internal team to manage all the financial, strategic, and operational decisions on their own. That includes startups building their first financial systems, growing companies scaling past their current capacity, and established businesses facing major transitions like expansion, acquisition, or succession planning.

The data shows the need clearly. According to the 2025 Federal Reserve Small Business Credit Survey, 57% of small business owners say reaching customers and growing sales is their biggest operational challenge, and 75% cite rising costs as their top financial concern. Both of those problems are exactly the type of issues an experienced advisor helps solve, not just once, but continuously as conditions change. Many of the mistakes new owners make early on come from not having advisory support during the first critical years.

Yet very few small businesses actually have advisory support. The BDC study found that only 6% of small and medium-sized enterprises have an advisory board or external advisory relationship. The 94% that do not are leaving significant growth on the table. Among the businesses that do use advisory support, 86% say it has had a significant impact on their success. The gap between awareness and action is one of the biggest missed opportunities in small business today.

How Do Business Advisory Services Help Small Businesses?

Business advisory services help small businesses by giving them access to the same level of financial and strategic expertise that large companies have, without the cost of hiring full-time executives. For a small business, an advisor becomes the experienced voice in the room who has seen the problems before and knows what works.

The impact is measurable. According to the BDC study, businesses with advisory support had annual sales that were 24% higher and productivity that was 18% higher than comparable businesses without advisory support over a 10-year period. Those are not small differences. For a business doing $1 million in annual revenue, a 24% improvement means $240,000 in additional sales per year.

Advisors help small businesses in several specific ways. They create financial clarity by building budgets, cash flow forecasts, and performance dashboards that show the owner exactly where the business stands. They improve decision-making by providing an objective outside perspective on major choices. They reduce risk by identifying problems early and helping the owner address them before they become crises. And they build systems that scale, so the business can grow without falling apart. For new companies, startup advisory support during the first year or two often shapes the entire trajectory of the business.

What Does a Business Advisor Do on a Daily Basis?

A business advisor reviews financial reports, analyzes performance data, monitors cash flow, evaluates key decisions, communicates with the leadership team, and develops strategies that keep the business moving toward its goals. The daily work depends on the type of advisory engagement and the stage of the business, but the core activity is always the same: helping the owner make better, faster, more informed decisions.

In a typical month, an advisor might review the financial statements and flag anything unusual, update the cash flow forecast based on current conditions, analyze a potential hire or investment to see whether the numbers support it, prepare for a meeting with the owner to discuss the next quarter's priorities, and follow up on action items from the previous meeting. The advisor is not running the business day to day. They are providing the financial and strategic intelligence that helps the owner run it better.

According to the 2024 CPA.com and AICPA Benchmark Survey, CPA firms with a formal advisory business plan report nearly $10,000 more in median average annual client revenue per relationship. That premium reflects the depth of work advisory clients receive compared to compliance-only clients. Accurate financial statements form the foundation that makes all of this advisor analysis possible.

Is Advisory Better Than Audit?

Advisory is not better or worse than audit because the two serve completely different purposes. Audit verifies that your financial records are accurate and comply with accounting standards. Advisory uses those financial records to help you make better business decisions. Most businesses need some form of both, but advisory is the one that directly improves performance and growth.

Audit is backward-looking. It tells you whether last year's numbers were correct. Advisory is forward-looking. It tells you what to do with the numbers to build a better next year. According to the CPA.com Benchmark Survey, CAS-related advisory revenue across CPA firms is expected to double over the next three years, while traditional audit and compliance revenue is growing at a much slower rate. The shift reflects what business owners are voting for with their dollars: they want help making decisions, not just verifying past records.

That said, audit has an important role. Lenders, investors, and regulators often require audited financial statements. If your business is seeking funding, going through due diligence, or operating in a regulated industry, you may need an audit in addition to advisory services. The best advisory relationships are built on top of clean, accurate financial data, which is exactly what a well-run audit or financial review produces.

How the Business Advisory Process Works Step by Step

The business advisory process works through five main steps: discovery, assessment, strategy development, implementation support, and ongoing review. Each step builds on the one before it, and the best advisory relationships cycle through these steps continuously as the business evolves.

Step 1: Discovery

Discovery is the first conversation between the advisor and the business owner. The goal is to understand the business at a high level, including what it does, how it makes money, what challenges it faces, and what the owner wants to accomplish. This step usually takes one or two meetings and sets the foundation for everything that follows. A good advisor asks more questions than they answer during discovery, because the quality of the advice depends on the quality of the information.

Step 2: Assessment

Assessment is the deep dive. The advisor reviews financial statements, tax records, cash flow history, operational data, and any other relevant information. They may interview key team members, review contracts, and analyze the competitive landscape. The goal is to develop a clear, data-driven picture of where the business stands today. According to Market Growth Reports, over 4.2 million businesses globally engaged advisory services in some form in 2024, and the assessment phase is where most of the long-term value gets created because it reveals problems and opportunities the owner did not know existed.

Step 3: Strategy Development

Strategy development is where the advisor builds a plan based on what the assessment revealed. This might include a financial forecast, a cash flow management plan, a growth strategy, a tax reduction plan, or an operational improvement roadmap. The plan is specific to the business and includes clear priorities, timelines, and measurable goals. Good strategic planning at this stage turns raw data into an actionable direction the owner can follow with confidence.

Step 4: Implementation Support

Implementation support is where the advisor helps the business put the plan into action. This might mean setting up new financial systems, restructuring the budget, negotiating with vendors, hiring key positions, or restructuring debt. The advisor does not do all the work themselves. They guide the owner and team through the execution and help remove obstacles along the way. According to Gitnux consulting industry data, project overrun rates in consulting average around 18%, which is why experienced advisory support during implementation keeps projects on schedule and on budget.

Step 5: Ongoing Review

Ongoing review is what makes advisory different from a one-time engagement. The advisor meets with the owner regularly, usually monthly or quarterly, to review results, adjust the plan based on new information, and address new challenges or opportunities as they arise. This continuous loop is what produces the compounding returns that the BDC study documented. Businesses do not improve once and stay improved forever. They need continuous attention, and that is what advisory provides.

What to Look for in a Business Advisory Firm

When choosing a business advisory firm, look for relevant industry experience, licensed credentials like CPA or Enrolled Agent designations, a track record of measurable client results, a clear engagement structure, and strong communication habits. The right firm will feel like a partner from the first conversation, not like a salesperson trying to close a deal.

Credentials matter because advisory work touches sensitive financial and legal territory. A CPA or Enrolled Agent has passed rigorous licensing requirements and is held to professional ethical standards. According to Gitnux consulting industry research, about 80% of consulting and advisory business comes from repeat clients, which means the firms with the best reputations earn loyalty through results, not marketing.

Communication is the most underrated factor. A brilliant advisor who does not communicate clearly or respond promptly is not much help when you are facing a time-sensitive decision. Ask prospective firms how often they meet with clients, how quickly they respond to questions, and what their reporting cadence looks like. For growing businesses that are just getting off the ground, the right business structure set up early makes the advisory relationship smoother from the start.

Types of Business Advisory Services Compared

Advisory TypeWhat It CoversBest ForTypical EngagementFinancial AdvisoryCash flow, budgets, forecasting, capital planningBusinesses with cash flow gaps or growth plansMonthly retainer, ongoingStrategic AdvisoryGrowth strategy, market positioning, major decisionsCompanies at inflection points or planning expansionQuarterly reviews, ongoingTax AdvisoryYear-round tax planning, entity optimization, complianceBusinesses overpaying taxes or facing IRS issuesMonthly or quarterly, ongoingOperational AdvisoryProcesses, staffing, technology, efficiencyCompanies with high costs or workflow problemsProject-based or retainerTechnology AdvisorySoftware selection, automation, cybersecurity, AIBusinesses modernizing systems or adding toolsProject-based, then periodic review

Sources: Verified Market Research business advisory market analysis, Mordor Intelligence consulting market report, 2024 CPA.com and AICPA Client Advisory Services Benchmark Survey, Business Development Bank of Canada advisory board study.

How Advisory Services Deliver Measurable Results

Advisory services deliver measurable results by creating financial clarity, improving decision speed, reducing expensive mistakes, and building systems that compound over time. The improvements show up in real numbers: higher revenue, better margins, stronger cash flow, and lower risk.

The BDC study provides some of the most rigorous evidence available. Companies that added advisory support saw productivity increase by an average of 5.9% in the first three years, compared to 3.2% growth in the three years before advisory was in place. Sales growth nearly tripled, jumping from 22.9% to 66.8% in the same comparison period. These are not theoretical projections. They are measured outcomes from a study that used Statistics Canada fiscal data to compare real companies.

The returns come from small improvements that add up over time. A 2% improvement in gross margin on $2 million in revenue adds $40,000 per year to the bottom line. A $50,000 tax savings identified through proactive planning adds that much directly to cash reserves. Avoiding a single $30,000 mistake that an experienced advisor saw coming pays for the advisory engagement itself. In Miami and across the country, we watch these improvements stack up for our clients year after year.

According to the 2024 CPA.com Benchmark Survey, CPA firms with formal advisory practices report that their advisory clients generate nearly $10,000 more in median annual revenue per client relationship than compliance-only clients. That gap exists because advisory clients are getting deeper, more valuable work, and they keep coming back because the results justify the investment. A strong foundation in small business consulting often serves as the starting point that leads into a longer advisory relationship.

At every stage, the quality of the advisory engagement depends on having the right people involved and a clear plan for measuring progress.

Frequently Asked Questions

Do I Need a CPA for Business Advisory Services?

You do not always need a CPA for business advisory services, but working with a CPA provides significant advantages. A CPA has passed rigorous licensing exams, meets continuing education requirements, and is held to strict ethical standards by state boards. For any advisory work that involves financial statements, tax strategy, or compliance, a CPA brings a level of credibility and expertise that unlicensed advisors cannot match. According to the AICPA, CPA firms offering advisory services have seen 17% year-over-year revenue growth in this category, which reflects rising demand from clients who want licensed professionals guiding their finances.

How Long Do Advisory Engagements Last?

Advisory engagements typically last 12 months or longer because the advisory model is built on an ongoing relationship, not a one-time project. Many advisory relationships continue for years, evolving as the business grows and new challenges emerge. According to Gitnux consulting industry data, about 80% of advisory and consulting business comes from repeat clients, which shows that businesses that experience good advisory support tend to keep it in place long term.

How Much Do Business Advisory Services Cost?

Business advisory services cost between $2,000 and $15,000 per month for most small businesses, depending on the scope and complexity of the engagement. Hourly advisory rates typically run $150 to $400 per hour. The cost reflects the depth of the advisor's involvement and the value the relationship produces. According to the CPA.com Benchmark Survey, advisory clients generate significantly more revenue for their businesses than the advisory fees cost, which is why the service continues to grow rapidly across the industry.

Can a Small Business Afford Advisory Services?

Yes, a small business can afford advisory services, and in many cases the cost of not having advisory support is higher than the fees. According to the BDC study, businesses with advisory support generated 24% higher annual sales over a 10-year period compared to similar businesses without advisory. Even at the lower end of the fee range, the improvements in cash flow, tax savings, and better decisions typically return several times the cost within the first year.

What Is the First Step to Getting Advisory Help?

The first step to getting advisory help is a discovery conversation with a qualified advisor. During this meeting, you share your business situation, goals, and challenges, and the advisor asks questions to understand your needs. Most reputable advisory firms offer the initial discovery call at no charge. By the end of the conversation, you should have a clear sense of whether the advisor understands your situation and can provide real value.

What Industries Benefit Most From Business Advisory Services?

The industries that benefit most from business advisory services are those with complex finances, heavy regulation, or fast-changing markets. According to Market Growth Reports, healthcare, financial services, technology, and professional services are the largest consumers of advisory. However, small businesses in every industry benefit because the core advisory functions, like cash flow management, tax planning, and growth strategy, apply across all sectors. Restaurant owners, contractors, retailers, and service businesses all see measurable improvement when they add experienced advisory support.

The Takeaway

Business advisory services work by giving you a knowledgeable, experienced partner who helps you see the full picture of your finances, operations, and growth potential. The process starts with a thorough assessment and turns into an ongoing relationship where your advisor helps you make better decisions, avoid costly mistakes, and build the systems your business needs to grow. The research is clear: businesses with advisory support outperform businesses without it by wide margins in sales, productivity, and long-term profitability.

If your business has reached a point where the decisions are getting bigger and the stakes are getting higher, advisory support can make a real difference. At NR CPAs & Business Advisors, we work with business owners across the country who want financial clarity, strategic direction, and a partner they can trust to help them grow.

Reach out to our team at (954) 231-6613 to start the conversation.

How Business Advisory Services Work

You should hire a business consultant when your business faces a problem too big or too specialized for your internal team to solve alone, or when you need an outside perspective on a major decision. The right time is usually when the cost of staying stuck is higher than the cost of bringing in expert help. Below, we cover the specific signs that tell you it is time, what a consultant actually does, the benefits you can expect, how to pick the right one, and how to get the most value from the engagement.

When Should You Hire a Business Consultant?

You should hire a business consultant when your company faces stagnant growth, operational strain, a major financial decision, or a challenge that your current team does not have the experience to solve. The trigger is usually a clear gap between where the business is and where it needs to be, combined with a lack of internal expertise or bandwidth to close that gap.

According to the U.S. Bureau of Labor Statistics, roughly 20.4% of small businesses fail within their first year, and 48.4% fail by their fifth year. Many of those failures trace back to problems a qualified consultant could have helped prevent or solve early on. The pattern we see most often is an owner who waits until the damage is already deep instead of bringing in help at the first sign of trouble.

Research from consulting industry analyst Kamyar Shah found that most small and mid-size business founders hire consultants six to nine months too late, after a revenue plateau has already cost them $300,000 to $800,000 in lost growth. The delay is rarely indecision. It is usually a misdiagnosis, where the owner treats symptoms like flat sales or team friction as temporary bumps instead of structural problems that need outside expertise. Experienced business consulting support can shorten the gap between the first warning sign and the right solution.

Your Revenue Has Stalled or Started Declining

A revenue stall that lasts two or more quarters is one of the clearest signals that outside help is needed. Harvard Business Review research found that 87% of companies experiencing stalled growth misdiagnose the root cause, which leads to wasted time and money on fixes that do not work.

Revenue stalls happen for many reasons. The market may have shifted, your pricing may no longer match the value you deliver, your sales process may have gaps, or a competitor may be eating into your share. The problem is that owners are often too close to the business to see the real cause. A consultant brings pattern recognition from working with dozens of other companies in similar situations and can usually identify the core issue faster than an internal team.

You Are Spending Too Much Time Working in the Business Instead of on It

If you are still approving every hire, reviewing every proposal, and handling customer problems yourself, you have become the bottleneck. This is common for founders who built the business from scratch. The habits that got the company to $1 million in revenue are often the same habits that keep it stuck there.

Founder-reliant businesses also carry a hidden cost. According to industry valuation research, businesses that depend heavily on the owner sell at a 20% to 30% discount compared to businesses with strong management teams and documented systems. A consultant can help you build the structure, delegation framework, and processes that free you up to focus on growth instead of daily operations. Strong strategic planning often starts with this exact shift.

How Do I Know If I Need a Business Consultant?

You know you need a business consultant when you have a specific problem you have tried to solve internally without success, a major decision that carries significant financial risk, a skill gap your team cannot fill, or growth that has outpaced your current systems. If any of these describe your situation, outside expertise will almost always produce a better and faster outcome than continuing to struggle through it alone.

According to a 2025 Federal Reserve Small Business Credit Survey, 57% of small business owners cite difficulty reaching customers and growing sales as their top operational challenge. Another 75% report rising costs as their primary financial concern. Both of those problems sit squarely in the space where a good consultant delivers the most value.

The simplest test is this: if the cost of the problem is larger than the cost of hiring help, it is time to hire. A $10,000 consulting engagement that saves $50,000 in wasted spending or unlocks $100,000 in new revenue is one of the best investments a business owner can make.

What Does a Business Consultant Actually Do?

A business consultant analyzes your company, identifies the highest-impact problems and opportunities, recommends specific actions, and often helps you carry out the changes. The consultant brings expertise your team lacks, an objective view free from internal politics, and proven frameworks that compress the time it takes to reach a solution.

The work varies by specialty. A financial consultant might rebuild your cash flow forecast and find tax savings. An operations consultant might map your current workflows, remove bottlenecks, and help you implement new tools. A strategy consultant might evaluate your market position and help you decide whether to expand, pivot, or double down.

What separates a good consultant from a mediocre one is follow-through. The best consultants do not just hand over a report. They work alongside your team to make the changes stick, train your people on the new systems, and document decisions so the value remains long after the engagement ends. According to data compiled by Gitnux in their 2026 Consulting Industry Statistics report, about 80% of consulting business comes from repeat clients, which tells you that companies who experience real results come back for more.

What Are the Stages of Consulting?

The stages of consulting are entry, diagnosis, planning, implementation, evaluation, knowledge transfer, and closure. This seven-step sequence is the standard engagement model used by professional consulting firms, and each step builds on the one before it.

Entry is the initial conversation where the consultant and client explore fit, scope the project, and agree on objectives. Diagnosis is the deep analysis phase where the consultant gathers data, interviews team members, and identifies the real problem. Planning is where the solution gets designed. Implementation puts the plan into action. Evaluation measures whether the changes worked. Knowledge transfer makes sure your team can sustain the improvements after the consultant leaves. Closure wraps up the engagement and often sets the stage for future work.

Skipping any stage usually weakens the final result. The most common mistake is rushing past diagnosis and jumping straight to solutions. A clear financial picture during the diagnosis phase gives both the consultant and the owner a shared foundation of facts to build on.

What Are the 4 Phases of Consulting?

The 4 phases of consulting are assessment, recommendation, implementation, and review. This simplified model captures the core of what every consulting engagement does, regardless of size or specialty.

Assessment is the fact-finding phase. The consultant reviews data, talks to key people, and develops a clear picture of what is happening and why. Recommendation is the strategy phase, where the consultant presents a plan based on the assessment. Implementation is where the work happens. Review measures the results and determines whether the engagement delivered on its objectives. According to Gitnux consulting industry data, project overrun rates in consulting average around 18%, which is why clear phase boundaries and milestones matter so much for keeping engagements on track and on budget.

What Are the Benefits of Hiring a Business Consultant?

The benefits of hiring a business consultant are faster problem resolution, access to specialized expertise, an objective outside perspective, improved operational efficiency, and better financial decision-making. A good consultant pays for the engagement through measurable improvements in revenue, margin, or operational performance.

According to a 2022 study by Consulting Magazine, businesses that hired outside consultants reported a 27% improvement in operational efficiency within 12 months. That kind of improvement translates directly into lower costs, higher output, and more profit. The gains usually come from things the internal team was too close to see, like redundant processes, mispriced services, or misallocated resources.

There is also a speed advantage. A consultant who has solved the same problem for other companies can reach a solution in weeks that would take an internal team months or years of trial and error. According to Deloitte research, companies that align their talent with their strategy see a 33% lift in productivity. A consultant helps make that alignment happen faster. We see this often with virtual CFO engagements, where outside financial leadership produces immediate clarity and better decisions for the business.

Can a Small Business Afford a Consultant?

Yes, a small business can afford a consultant, and in many cases, a small business cannot afford not to hire one. The consulting industry has evolved well beyond the old model where only large corporations could access outside expertise. Today, fractional consultants, project-based engagements, and hourly advisory models make professional consulting accessible to businesses of all sizes.

According to Mordor Intelligence, small and medium-sized enterprises are advancing at the fastest growth rate (6.71% CAGR) in the consulting market, specifically because fractional and project-based models have made consulting affordable for smaller companies. A defined, project-based engagement that solves one specific problem can run a few thousand dollars and still produce a return many times larger than the fee.

The real question is not whether you can afford the fee but whether the problem you are trying to solve is costing you more than the fee would. If declining revenue is costing you $10,000 a month and a consultant can fix the root cause for $8,000, that is a decision that pays for itself before the invoice is even due. A deeper look at consulting costs can help you set the right budget for your situation.

What Are the 4 Principles of Consulting?

The 4 principles of consulting are independence, confidentiality, objectivity, and competence. These form the ethical foundation of professional consulting and are reflected in the codes of conduct used by bodies like the Institute of Management Consultants USA.

Independence means the consultant gives advice free from conflicts of interest. They are not selling a product you must buy, and they are not tied to the outcome in a way that biases their recommendation. Confidentiality means everything they learn about your business stays private. Objectivity means the advice is based on data and analysis, not on what you want to hear. Competence means the consultant actually has the skills to do the work and is honest about the limits of their expertise.

These principles matter because you are letting an outsider see the inner workings of your company, including the parts that are not going well. Trust is the foundation of the relationship. According to a 2025 survey of small business owners cited in consulting industry research, 64% say trust in the consultant is the single most important factor in choosing who to work with, ranking above price, brand, or credentials.

How to Choose the Right Business Consultant

Choosing the right business consultant comes down to five things: expertise fit, references, communication style, fee structure, and chemistry. Getting this decision right matters because the wrong consultant wastes time and money, while the right one can change the trajectory of the business.

Expertise fit means the consultant has done the exact kind of work you need, ideally for businesses similar to yours. A consultant who has helped restaurants improve margins is more valuable to a restaurant owner than one who has worked only with tech companies. References give you the real story. Talk to two or three former clients and ask about results, responsiveness, and whether they would hire the consultant again.

Communication style is often overlooked but makes a big difference in practice. Some consultants are very directive, while others work collaboratively alongside your team. Both can be effective, but the style needs to match what you are comfortable with. Fee structure should be clear and tied to specific deliverables when possible. Chemistry matters because consulting involves a lot of honest conversation. If the first few talks feel awkward, the engagement will probably feel that way too. For owners who are just getting started, the right business formation decisions early on often set the stage for productive consulting relationships later.

Is It Worth Hiring a Business Consultant for a Startup?

Yes, hiring a business consultant is worth it for a startup, especially during the first one to two years when the cost of mistakes is highest and the founder's time is most limited. Startups face a unique set of challenges, from entity selection and tax structure to cash flow planning and market positioning, that benefit enormously from experienced outside guidance.

According to a U.S. Bank study widely cited in small business research, 82% of small businesses that fail do so because of poor cash flow management. Startups are especially vulnerable because founders often focus on product development and sales while neglecting the financial systems that keep the business alive. A consultant who specializes in early-stage companies can set up those systems before cash flow becomes a crisis.

The numbers tell a clear story. According to Bureau of Labor Statistics data, 29% of startups fail specifically because they run out of cash. That failure rate drops significantly when founders bring in financial and operational expertise early. We work with startups through our startup advisory service, and the most common feedback we hear is that they wish they had started sooner.

Solid tax planning during the first year alone often saves more than the cost of the entire engagement. Setting up the right financial structure from day one gives the business a much stronger foundation for every decision that follows.

How Long Does a Business Consulting Engagement Last?

A business consulting engagement typically lasts between 4 weeks and 12 months, depending on the scope and complexity of the work. Short diagnostic or advisory projects usually run 4 to 8 weeks. Standard implementation projects take 3 to 6 months. Ongoing fractional executive or retainer engagements often last a year or more.

The length depends on what needs to get done. A focused project like a cash flow analysis or a market assessment can be completed in a few weeks. A broader engagement like restructuring operations, building a new financial reporting system, or preparing a company for sale takes longer because there are more moving parts and more people involved.

According to Gitnux consulting industry data, the average sales cycle for a new consulting engagement runs 3 to 6 months from first contact to signed agreement. Once the work starts, the most productive engagements have clear milestones and check-in points so both sides know whether progress is on track. Business owners in Miami and across the country who have been through the process before tend to move faster because they already know what to look for and what to expect.

Signs You Need a Business Consultant and What Type to Hire

Warning SignWhat It Usually MeansType of Consultant to ConsiderRevenue has stalled for 2+ quartersGrowth strategy or market fit issueStrategy consultantCash flow is tight despite strong salesFinancial systems or pricing problemsFinancial or CFO consultantHiring keeps going wrongWeak hiring process or cultural issuesHR or operations consultantMargins are shrinking year over yearCost structure or operational wasteOperations consultantPreparing to sell or raise capitalNeed clean financials and a growth storyFinancial consultant or M&A advisorLaunching a new product or marketNeed market validation and go-to-market planStrategy or marketing consultantOwner is doing everything personallyMissing delegation structure and systemsBusiness or operations consultant

Sources: U.S. Bureau of Labor Statistics business survival data, Harvard Business Review stalled-growth research, 2025 Federal Reserve Small Business Credit Survey, Kamyar Shah SMB consulting research, Deloitte talent and strategy study.

How to Get the Most Value From a Consulting Engagement

Getting the most value from a consulting engagement starts with clear scope, measurable goals, open access, follow-through on recommendations, and measurement at the end. Engagements that follow these five practices consistently deliver strong results. Engagements that skip them often disappoint, regardless of how good the consultant is.

Every successful consulting engagement starts with writing down exactly what the work will and will not cover before signing anything. Measurable goals mean agreeing on specific numbers or outcomes that define success. Open access means giving the consultant honest information and letting them talk to the people who do the work, not just the owner.

Follow-through is the most commonly missed step. Many engagements produce excellent recommendations that the client never acts on, and then the client wonders why nothing changed. According to consulting industry research, only about 40% of small business engagements include formal post-engagement measurement. Adding that single step is one of the highest-impact changes an owner can make. Owners who avoid the common startup mistakes early on tend to get better results from every outside engagement they invest in later.

Frequently Asked Questions

What Are the 7 C's of Consulting?

The 7 C's of consulting are Client, Clarify, Create, Change, Confirm, Continue, and Close. The framework comes from Mick Cope's book The Seven C's of Consulting and has been a standard consulting process model for more than two decades. Each C represents a phase of the engagement, from first contact with the client through project completion and ongoing relationship.

What Is the Difference Between a Business Consultant and a Business Coach?

The difference between a business consultant and a business coach is that a consultant diagnoses specific problems and delivers solutions, while a coach focuses on developing the owner's personal skills and leadership ability. A consultant solves a business problem. A coach develops the person running the business. Many business owners benefit from both at different stages, but the two roles serve different purposes.

Do Business Consultants Help With Financial Problems?

Yes, business consultants help with financial problems, and financial consulting is one of the most common reasons small businesses hire outside help. Financial consultants work on cash flow management, budgeting, forecasting, financial reporting, and cost reduction. According to the U.S. Bank study on small business failure, 82% of businesses that fail do so because of poor cash flow management, which makes financial consulting one of the highest-impact specialties.

What Are the Four Pillars of Consulting?

The four pillars of consulting are expertise, objectivity, methodology, and results. Expertise means the consultant brings deep knowledge the client does not have internally. Objectivity means the consultant sees the business without the blind spots that insiders carry. Methodology means the consultant follows a structured process rather than guessing. Results mean the engagement delivers measurable improvement. All four pillars must be present for a consulting engagement to succeed.

What Happens During the First Meeting With a Business Consultant?

During the first meeting with a business consultant, the consultant asks about your business, your challenges, your goals, and what you have already tried. The goal of the first meeting is to determine fit and scope, not to solve the problem on the spot. Many consultants offer the first meeting free of charge. By the end of it, you should have a clear sense of whether the consultant understands your situation and whether their approach matches your needs.

How Much Does a Small Business Consulting Engagement Cost?

A small business consulting engagement costs between $5,000 and $50,000 for a defined project, or $3,000 to $15,000 per month on retainer for ongoing advisory work. Hourly rates for experienced specialists typically run $150 to $400 per hour. According to 2025 consulting industry pricing surveys, well-scoped small business consulting engagements typically produce a 3 to 10 times return on the fees paid within the first year.

Putting It All Together

Knowing when to hire a business consultant is about recognizing when the cost of staying stuck is higher than the cost of getting help. The clearest signals are stalled revenue, operational strain, a major financial decision, or a growth phase that has outpaced your internal systems. The data is consistent across every study and industry report: businesses that bring in the right expertise at the right moment reach their goals faster, avoid expensive mistakes, and build the kind of operational discipline that supports long-term success.

If you are weighing whether outside expertise could help your business move forward, we would be glad to talk it through. At NR CPAs & Business Advisors, we work with small businesses and growing companies across the country to bring clarity, structure, and measurable results to the decisions that matter most.

Reach out to our team at (954) 231-6613 to start the conversation.

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