Business Advisory Archives - Erwin, Fountain, & Jackson P.A.

Stay Ahead of Business Cybercrime

March 3, 2025

Business owners, beware. Identity theft is a growing threat that can cripple your business or shut it down forever. Signs of business identity theft include the inability to file a tax return because a return has already been filed using the...

Unlocking the Potential Benefits of ESOPs

January 2, 2025

Wouldn’t it be great if your employees worked as if they owned part of the company? An employee stock ownership plan (ESOP) could make that a reality. Under an ESOP, employee participants gain partial ownership of the business through a...

Tax-Saving Moves Businesses Should Consider Before Year End

November 22, 2024

Now is a good time to consider year-end moves that can help reduce your business’s 2024 taxes. The effectiveness of a particular action depends on the circumstances of your business. Here are several tax-saving possibilities. Time Income and...

The Rise of Check Kiting and Other Check Fraud

October 15, 2024

While the use of paper checks has greatly diminished, thieves still view them as a source for stealing revenue. In fact, the Financial Crimes Enforcement Network warns that many thieves are returning to old-fashioned financial theft, using paper...

Tax Considerations When Choosing a Business Entity

August 28, 2024

Are you in the process of starting a business or contemplating changing your business entity? If so, you’ll need to decide how to organize your company. Should you operate as a C corporation or as a pass-through entity such as a partnership...

Independent Contractors: Classify Carefully

July 29, 2024

Many businesses use independent contractors to help keep their costs down and provide flexibility for short-term needs. But the question of whether a worker is an employee or an independent contractor is complex. Be careful that your independent...

Tax records: What can you toss and what should you keep?

April 29, 2024

Generally, the IRS has three years to audit a tax return, from the later of the due date of the return or the date you file. You can also file an amended return within this time frame if you overlooked something.

Retirement Saving Options for Your Small Business

March 25, 2024

Retirement Saving Options for Your Small Business. There’s still time to see tax savings on your 2023 tax return by establishing and contributing to a 2023 SEP, right up to the extended due date of the return.