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Tax Season’s Over…Or Is It?
We filed. You exhaled. The numbers are in, and the deadline passed — maybe with a few coffee-fueled late nights. But now that tax season is behind us… what happens next? Here’s the thing: April might be the finish line,… -
Your Pot of Gold Awaits: How to Save More on Taxes This Year
St. Patrick’s Day has come and gone, but if you’re still hoping to improve your business finances, it’s not too late. While luck might play a role in some things, keeping more of your hard-earned money comes down to smart tax… -
Why You Must Enable Multi-Factor Authentication for QuickBooks Online
Is Your QuickBooks Online Account Secure? If you use QuickBooks Online (QBO) to manage your business finances, security should be a top priority. Cybercriminals are constantly looking for ways to steal financial data, and a simple password is no longer enough to… -
Ready for the Deadline? What You Need to Know About 1099s
The new year is here, and with it comes an important deadline for business owners: January 31, 2025. If you’ve paid independent contractors, service providers, or freelancers $600 or more in 2024, you may need to file a 1099 form for them…. -
Important BOI Update!
The requirements for filing Beneficial Ownership Information (BOI) reports under the Corporate Transparency Act (CTA) have shifted yet again. As of December 26, 2024, BOI filing is not currently required, following an order from the Fifth Circuit Court of Appeals… -
Understanding Tax Liabilities on Investments for Your Grandchildren – You Ask, We Answer Series
Investing for your grandchildren’s future is one of the most generous and thoughtful gifts you can give. Whether it’s a college fund, a nest egg for their first home, or just a financial cushion for whatever life throws their way,… -
Show Me the Money! Where’s My Tax Refund?
Tax season can be a stressful time for many, but the anticipation of receiving a tax refund can also bring a sense of relief and excitement. For those expecting a refund, knowing where to check its status and understanding the… -
Tax Season Do’s and Don’ts for Small Business Owners
As tax season approaches, it’s crucial for small business owners to navigate the complexities of tax filings accurately and efficiently. This article aims to guide you through some essential do’s and don’ts to help ensure a smooth tax season. Do:… -
When You Give to Charity…Chances are…
Did you know that you may be able to reduce your taxable income by donating cash or goods to a “qualified charity”? Giving your neighbor or family member money to help them cover bills in a challenging economy does not… -
Mileage vs Actual Expense Tracking
Maximizing tax write-offs as an independent contractor or self-employed individual often includes leveraging car-related expenses. There are two primary avenues for deduction: tracking mileage or itemizing actual car expenses based on work usage. Deciding between these approaches can significantly impact… -
Outsourcing Accounting Work: Exploring the Pros and Cons
As businesses seek to optimize their operations and focus on core competencies, outsourcing non-core functions has become increasingly popular. Accounting, a crucial aspect of business management, is no exception. As with most things, there are pros and cons of outsourcing… -
Taxes and Uncollectible Debt
There are few things as frustrating as not being paid what is owed to you. If it becomes clear the debt is not going to be paid, you might be able to recoup some of the lost money via a…