Whether your business is incorporated determines what tax planning strategies are available to you. When your business is incorporated, it becomes a separate entity for tax purposes. The downside is more tax compliance and extra paperwork for you and your accountant, but it’s worth the upside of more opportunities for corporate tax planning. For example, …
The Difference Between Tax Compliance and Tax Planning Read More »
Are you a business owner who despises paying what feels like all of your money away to a tax bill? We hear this every day as we work with business owners. When we partner with you as your CPA, we take a holistic approach to reducing both your business and personal taxes with tax saving …
Part of our small business tax preparation and planning services includes staying up to date on tax laws. Tax laws are constantly changing, and it’s important you have someone on your side that’s looking out for you. The Tax Cuts and Jobs Act (TCJA) brought forth many changes in taxes. While this legislation was enacted …
How the TCJA Impacts Your Taxes as a Business Owner? Read More »
You may have heard the quote before: “The only two things certain in life are death and taxes.” Unfortunately, we can’t help you with the first one, but we can surely help you with the second. The important thing when it comes to taxes is to be proactive and plan to reduce taxes with tax …
5 Tax Planning Strategies for Your Small Business Read More »
When you hire people to work for you, it’s important to consider employee vs contractor guidelines and tax compliance issues like the question of whether someone who works for you is an employee or a contractor. This means determining if the worker is self-employed or employed by you. If handled incorrectly, there can be penalties …
What’s the Difference Between an Employee and a Contractor? Read More »
There is so much more to tax compliance than simply filing your tax return. Filing your federal tax return will satisfy IRS compliance, but there are also state and local tax laws to consider. When you’re a business owner, there are also things like sales taxes and payroll regulations you need to follow. The number …
One of the most advantageous things about working with an accountant is the ability to plan for the future. When it comes to our tax planning services, our goal is to maximize your tax deductions so you can save as much money as possible. We make sure you only pay the tax necessary. In order …
Have you ever wondered what the difference is between a tax deduction and a tax credit or been fearful that you’re missing out on claiming business expenses you didn’t know about? Taxes can be complicated, but you have nothing to worry about with our small business tax services. One of the reasons taxes are so …
Did you know there are certain personal expenses you can claim on your tax return if you also use them for business? Two of the most common expenses in this category are costs relating to personal vehicles used for business and home office expenses. But . . . If claimed incorrectly, these expenses can also …
Use Small Business Tax Services to Avoid These Audit Triggers Read More »
Brief overview of some of the key COVID-19 relief options available for business owners, such as PPP Loans, EIDL Loans, EIDL Advance, ERTC and more.
