The word “audit” makes many business owners shudder. No one likes the idea of the IRS digging into their books looking for mistakes and finding ways to increase their tax bill. But, historically, the rate of audits for small businesses has been so low that audits were almost unheard of. That’s about to change for [...]
On December 27, 2020, President Trump signed into law the Consolidated Appropriations Act, 2021. Below is a selection of highlights of the Act that we would like to share with you. As always, we recommend that you consult with your tax professional regarding specific items that may benefit your business. PPP Loan Changes Expenses paid [...]
Keep these dates handy for your 2021 Accounting needs.
Prepare for Tax Time: Get it together now to make taxes as painless as possible Tax season is always a little hectic. With the rollercoaster that was 2020, this year is bound to be even more challenging (especially if your business took advantage of the PPP or EIDL programs). But there’s no reason to panic. [...]
Are You Ready for Tax Season? Here are 5 Big Benefits of Filing Taxes Early We all know the saying about death and taxes. Death can be a bit unpredictable, but taxes pop up like clockwork every April. But that doesn’t mean you should wait until April to get ready for tax filing. In fact, [...]