QuickBooks
File on Time Even if You Can’t Pay
Taxpayers should file their tax returns by the deadline even if they cannot pay the total amount due, but if you can’t, there are several options.
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Tips for Ensuring Financial Success
Can you point your company in the direction of financial success, step on the gas, and then sit back and wait to arrive at your destination? Probably not. While you may wish it was that easy, the truth is that you can’t let your business...
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Employer Tax Credit Extended for Payroll Workers
The Taxpayer Certainty and Disaster Tax Relief Act of 2020, enacted December 27, 2020, made several changes to employee retention tax credits. These tax credits were previously made available under the Coronavirus Aid, Relief, and Economic...
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Small Business: Deductions for Charitable Giving
Tax breaks for charitable giving aren’t limited to individuals, your small business can benefit as well. If you own a small to medium-size business and are committed to giving back to the community through charitable giving, here’s...
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Year-End Tax Planning Strategies for Business Owners
Several end-of-year tax planning strategies are available to business owners that can be used to reduce their tax liability.
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Six Tips for Starting Your Own Business
Starting your own business can be an exciting prospect, but there is more to it than simply writing a business plan. Also, if you expect to have employees, there are a variety of federal and state forms and applications that you need to complete...
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The Home Office Deduction
With more people working from home than ever before, taxpayers may be wondering if they can claim a home office deduction when they file their 2020 tax return next year. The short answer is that self-employed taxpayers who use their home for...
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Officer Compensation: “Non-Wage” Distributions
A recent Tax Court case outlined a situation we see quite often with our clients. In this case, the taxpayer was the sole shareholder of a professional association (taxed as a corporation) which performed medical services. He, himself was a...
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Home Based Businesses: Making The Right Decision
Is Having A Home Based Business Right For You? With more than 3 million home-based businesses now operating around the country, we are finding ourselves being approached more often than ever by clients considering the idea of walking away from...
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