There is always one season that everyone forgets – tax season. While it may seem like you have plenty of time to prepare, small business tax season sneaks up on many owners who often find themselves overwhelmed with the process. … Read More
There are a number of financial and tax topics we review with clients as the end of the year approaches. There are considerations for both individuals and business owners that can minimize tax liability and/or reduce your taxable income for … Read More
While 2021 taxes aren’t due for months, there are some moves that need to happen before the year’s end to minimize your tax liability. Ideally, your accountant should … Read More
The CARES Act allowed traditional IRA owners who were adversely affected by the COVID-19 pandemic to take a tax-favored Coronavirus distribution of up to a combined limit of $100,000 from one or more of their traditional IRAs in 2020.
You … Read More
With the IRS changing tax laws more than taxpayers can keep up with, tax return mistakes are inevitable when filing your taxes. Your mistakes will either cause you to underpay or overpay on your taxes. But, don’t fear, there … Read More
The IRS continues to warn people of tax-related identity theft scams, especially regarding your personal financial and tax information. With these types of theft cases continuing to rise every year, it’s crucial to stay up to date on the latest … Read More
Did you know roughly 99% of taxes due on wages are paid to the IRS, but compliance on other sources of income is only estimated to be about 45%? The IRS has definitely discovered that Americans are most likely only … Read More
Small businesses can’t afford a full-time CFO, but nor do they need one. They need the higher-level expertise of a CFO only a few hours a week or even just a few hours a month. Businesses often have a lower-level … Read More
As a small business owner, you usually end up wearing a lot of hats. One day you might be the CFO and another day you might be an HR recruiter. While this can be stressful and time consuming, it’s also … Read More
DCAA stands for The Defense Contract Audit Agency. This agency handles audit and financial services for Department of Defense employees and other federal entities who are responsible for acquisition and contract administration. Government contractors have a demanding set of accounting … Read More
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