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Saving Money as an S-Corp
Having your own company is both thrilling and exhausting. You get to call the shots all while stressing over expenses at 1:00am. And one of those very stressful expenses includes the taxes owe from your small business. Many small business owners maintain an LLC...
Reasons for Late Tax Filing
Tax season is a stressful time for both businesses and individuals. It means obtaining your tax information from employers, getting all your financial records in order, and filing with the IRS. As filing taxes every year is the law, you must do so by the due date,...
What to Gather for Your Meeting with Your CPA
It’s that time of the year again, and you will have to meet with your CPA to file your taxes. As a business owner, this is probably a troubling time because you probably never feel organized. But, when cutting it close to the tax deadline, you will need to be as...
Accounting Basics for a Small Business
As many entrepreneurs pursue their own small business, much concentration, focus, and passion are applied to a product or service, but behind-the-scenes business decisions are often left to the sidelines. What is meant by “behind-the-scenes business decisions” though?...
Should You Do Your Own Taxes or Get the Help of a CPA?
Tax season is approaching again. Everyone deals with taxes differently because each person’s tax situation is unique. If your income and lifestyle remain the same yearly, you can save lots of money by simply doing your own taxes. However, if you own a business, have...
End-of-the-Year Tips for Saving on Your Taxes
With 2022 coming to a close, many economists and investors are looking toward 2023 with trepidation. The Fed’s campaign to raise interest rates seems to have come too late. Resultingly, inflation has shown itself as sticky rather than transitory, requiring the Fed to...
Can Companies Settle Your IRS Debt for Pennies on the Dollar?
In June 2022, the U.S. Internal Revenue Service (IRS) issued an important news release that answered the question of whether those owing money to the IRS could legitimately work with companies that advertise that they can settle your IRS debts for pennies on the...
What About Government Student Loan Forgiveness?
On August 24, 2022, President Biden announced that, using his executive authority, the federal government will provide financial relief to millions of borrowers through a new student loan debt relief program. More than 45 million borrowers in the U.S. currently owe...
Small Business Tax Liability and How CPAs Help
For small business owners, tax liability often makes the difference between an excellent quarter and an average quarter or a lackluster quarter and a losing quarter. Unlike individuals, businesses need to pay taxes year-round, potentially wreaking havoc on cash flows....
Reasons to Hire a Tax Professional for Your Business
So, you have a small business. That can be exciting and terrifying at the same time. Owning your own business is not an easy task. Your days, evenings, and weekends are filled with the day-to-day operations of running your business and ensuring its success. One thing...
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