Due to the unexpected financial losses small businesses faced in 2020, getting the most from your tax return will be of high importance this tax season. This is where small business tax deductions come in to save the day! Tax … Read More
What exactly is a business casualty loss? It is the loss of property due to a certain “casualty”. A casualty in this case can be anything unexpected, including fires, accidents, floods, storms, and more. We’re breaking down some business tax … Read More
The Consolidated Appropriations Act provides over $2.3 trillion in funding which includes $900 billion in stimulus relief for the COVID-19 pandemic. The CAA was signed into law on December 27, 2020. Along with the newly enacted CAA comes new federal … Read More
According to the Government Accountability Office and the Taxpayer Advocate Service, the IRS is not keeping up with paper tax returns. The COVID-19 pandemic has definitely played a factor in this as last year’s tax season was in full swing … Read More
Due to an overwhelming amount of pandemic-related tax changes, the IRS has decided to extend the tax filing deadline to May 17. This delay is necessary as many Americans will need the flexibility and time to gather what they need … Read More
There can be tax benefits to hiring your spouse as an employee with your business, but how you do this is important as the process can get quite convoluted and specific.
Read on to see what you should be analyzing … Read More
Finding out that you have tax penalties from the IRS might be scary at first, but before you get worried, do your research and remember you have options; reasonable cause being one of them.
Reasonable cause is based on the … Read More
One or two mistakes in handling your retirement money could mean paying a stiff penalty as you grow older — whether financially, or in the emotional drain that “guessing wrong” can take on you. Watch out for these mistakes we’ve … Read More
It’s easy to get lazy when a business can pick the low hanging fruit available in an easy marketplace.
Markets shrink, funding dries up, prospects aren’t as easily found, or profitability margins decrease. So what do you do? Many business … Read More
Regardless of national events, or where things are with PPP and EIDL loans — as a business owner, it’s important that you take a REGULAR, clear-eyed look at the underlying legal and financial foundations of your business.
I started with … Read More