Family Biz Proliferates


Small businesses run by an individual or a family with no other paid employees made up a large chunk of U.S. companies and are growing in number, according to a recent U.S. Census Bureau study.

Such “nonemployer” businesses increased by more than 1 million between 2003 and 2004 to 19.5 million, or 70% of all companies.

Small businesses are becoming more varied, too, as the Internet opens up new opportunities. Internet service providers, in fact, were among the fastest-growing segments, increasing by 18.7%, and companies offering Internet-based consumer sales increased 12.7%.

SPONSORED REPORT

Why cybercriminals are targeting CPAs

This free report expands on the most commonly found scams, why education and specialized IT knowledge help to lessen security vulnerabilities, and why every firm should plan carefully for how it would respond to a breach.

PODCAST

How tax reform — and Excel — are changing the CPA Exam

Mike Decker, the vice president of examinations at the AICPA, discusses changes being made to the exam as a result of tax reform — and about how Excel will now be available for use on the test.