If you are a business owner who uses your car, van, or pickup truck frequently for work-related travel, you may have heard that you can deduct certain car-related expenses on your tax return. In some cases, this can be one…
You may have heard that you can hire your children as a legitimate way to reduce tax liability. This recommendation may seem like an appealing way to save on taxes and start teaching your kids about business. However, there are…
Whether you own a business or work in one, accurately tracking expenses is a necessity. If you’re a small business owner, tracking is essential for understanding your financial position, budgeting, forecasting and fulfilling your tax obligations. If you’re an employee,…
Are you receiving calls and emails claiming that you qualify for something called the “ERC” or the Employee Retention Credit? Well, you’re not alone. Millions of businesses across the country have been bombarded with overinflated or even false claims about…
In the dynamic realm of tax credits and financial incentives, misinformation often lurks, creating confusion and missed opportunities for businesses. One such opportunity that has been subject to misconceptions is the Employee Retention Credit (ERC). As businesses across the United…
If you’re a small to mid-size business owner or manager, you may find yourself struggling with the complexities of accounting and tax compliance while trying to focus on core business functions. In such situations, it’s beneficial to outsource your accounting…
Organizing a system for keeping your tax records doesn’t have to be complicated or expensive. It just has to be…well, organized. But considering that the IRS can audit your tax returns for up to three years (and even further if they find…
We know, we know, it’s still this year. But it’s time to start thinking about what you’ll need to have ready for your accountant when it’s time to do your business tax return in January next year. As a business owner, you’ll want to…
People do lots of things during the summer—take vacations, grill in the backyard, attend ball games and go to the beach, among other pursuits. What kinds of things don’t they do in the summer? Well, spend time indoors patronizing businesses, for one….
The recent popularity of M. Night Shyamalan’s “Old” offers a fascinating yet unsurprising truth—we fear aging. This fear could be why so few of us save for retirement until it’s too late. When seniors reach retirement age, many discover they…