Inauguration Day is only hours away and on Monday, the second term of President Donald Trump begins. There are a lot of questions about what will happen, what will differ and stay the same from Trump’s first term as President.

While some will focus on how he’ll govern, his foreign policy, his actions on the border, our expert team on Small Biz Breakdown is really just focused on what a second Trump presidency will mean for small business owners and entrepreneurs for the next four years.

Check out what they’re saying and feel free to add to the conversation in the comments. Here’s the latest episode of Small Biz Breakdown:

Small Business News Roundup – Jan. 18, 2025

Check out the rest of the week in small business news in our weekly roundup …

IRS Issues Reminder: Wage Statements and Information Returns Due January 31

The Internal Revenue Service (IRS) is reminding businesses to submit wage statements and specific information returns to the federal government by January 31. The deadline, critical for tax filing accuracy and fraud prevention, applies to a variety of forms, including the W-2, W-3, and 1099-NEC.

Justice Department Files Suit to Shut Down Florida Tax Return Preparers

The Justice Department has filed a civil injunction in federal court in Tampa, Florida, seeking to shut down Madison & Sons Enterprises, a tax return preparation business operating as Madison Tax Services. The suit targets the business’s owner, Darryl J. Madison, along with Malik F. Eugene, Yvette Madison, and Marlesa J.

NFIB Survey: Small Business Optimism Reaches Six-Year High

The National Federation of Independent Business (NFIB) announced today that its Small Business Optimism Index rose to 105.1 in December, marking a 3.4-point increase and the highest level since October 2018.

Phoenix Lender Services Launches to Revolutionize SBA and USDA Lending

Phoenix Lender Services, a subsidiary of Community Bankshares, Inc., has launched with a mission to transform Small Business Administration (SBA) and United States Department of Agriculture lending across the United States.

Pricer Unveils Shelf Edge Technology Pricer Avenue

Pricer, a Sweden-based leader in retail technology, has launched Pricer Avenue, a state-of-the-art electronic shelf label (ESL) system designed to revolutionize the traditional retail aisle experience.

Pollo AI Introduces Multi-Model Support, Transforming AI Video Generation

Pollo AI, a leading platform for AI-powered video generation, has unveiled a new multi-model support feature that allows users to choose from a variety of popular AI video models. The update transforms Pollo AI into an all-in-one platform for creators, offering increased versatility and customization.

Google Cloud Launches AI Solutions to Revolutionize Retail

Google Cloud has announced a suite of new AI-driven solutions aimed at transforming the retail industry, addressing challenges such as rising costs, supply chain disruptions, and heightened consumer demand for personalized shopping experiences.

TriNet Introduces Enhanced HR Plus to Streamline Payroll and HR for SMBs

TriNet (NYSE: TNET), a provider of human resources solutions for small and medium-sized businesses (SMBs), has launched its enhanced HR Plus offering, designed to simplify and optimize HR, payroll, and benefits administration.

SBA Offers Low-Interest Disaster Loans for Southern California Wildfire Recovery

The U.S. Small Business Administration (SBA) has announced the availability of low-interest federal disaster loans to help Southern California businesses, homeowners, renters, and nonprofit organizations recover from the devastating wildfires and straight-line winds that began on January 7, 2025.

Expert Offers Guidance on Acquiring a Taken Domain Name

Michael Gargiulo, CEO of VPN.com, has outlined a strategic approach to acquiring domain names that are already registered. Gargiulo, an experienced entrepreneur and expert in the domain industry, emphasizes that while securing a taken domain may seem challenging, persistence and the right tactics can often lead to success.

IRS Grants Tax Relief to California Wildfire Victims, Extends Deadlines to October 15, 2025

The Internal Revenue Service (IRS) has announced significant tax relief measures for individuals and businesses in southern California affected by the wildfires and straight-line winds that began on January 7, 2025.

ASUS Launches Vivobook Pro 15 with AI-Enabled Intel Core Ultra Processors and Advanced Features

ASUS has unveiled the latest version of its Vivobook Pro 15 (N6506CU), a high-performance 15.6-inch OLED laptop designed for creators and gamers. Equipped with next-generation Intel Core Ultra 9 processors (Series 2) and NVIDIA GeForce RTX 4050 GPU, the device combines cutting-edge technology with advanced user-friendly features.

Small Biz Breakdown: Is the IRS Targeting the Gig Economy?

Is the IRS targeting entrepreneurs thriving in the gig economy? This week, a federal judge in California granted an IRS request seeking a John Doe summons to get info of people using the JustAnswer platform. Knowing this news, our expert panel at Small Biz Breakdown had a lot to say about it.

RHEI Launches Data Monetization Platform to Generate Revenue for Content Creators

RHEI Creations Corp., a leader in content distribution and marketing for the creator economy, has introduced RHEI Data Pro, a platform designed to help creators and content owners monetize their existing content libraries.

Honeywell Survey Reveals AI Investment Plans Among Retailers for 2025

Honeywell released findings from its AI in Retail Survey that reveal over 80% of U.S. retailers plan to increase their use of artificial intelligence (AI) in 2025. The research highlights how AI is reshaping retail operations to address challenges in return management, customer service, and product availability, while enhancing employee satisfaction and skills.

NFIB Jobs Report: Small Business Labor Costs and Hiring Challenges Ease in December

Small business labor costs eased in December, according to the latest jobs report from the National Federation of Independent Business (NFIB). The report found that fewer businesses are raising compensation and planning future increases, reflecting a gradual softening in the labor market.

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This article, “Small Biz Breakdown: What Will a Second Trump Term Mean for Small Business?” was first published on Small Business Trends