If you had to make a list of some of the biggest issues that plague small business owners on a regular basis, cashflow problems would undoubtedly be right at the top. Cash flow is about more…
On August 24, President Biden announced a three-part plan to deal with student loan debt which includes, among other things, $20,000 in loan relief to borrowers with loans held by the Department of Education whose individual…
September 1 - 2022 Fall and 2023 Tax Planning Contact this office to schedule a consultation appointment. September 12 - Report Tips to Employer If you are an employee who works for tips and received more…
Throughout your life there will be certain significant occasions that will impact not only your day-to-day living but also your taxes. Here are a few of those events: Getting Married – If you just got married…
On August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022 which is a scaled-back version of the prior Biden administration proposals originally included in the Build Back Better Act. The legislation…
If someone were to craft a "Mount Rushmore" featuring the likenesses of some of the most influential musicians of all time, Aretha Franklin would undoubtedly be on it. Born in 1942, Franklin was more than…
You may have heard that the Senate passed the Inflation Reduction Act on Sunday—and the House is expected to pass it on Friday. What exactly is it, and what does it mean to you? Like most…
BUSINESS DUE DATES August 1 - Social Security, Medicare, and Withheld Income Tax File Form 941 for the second quarter of 2022. Deposit or pay any undeposited tax under the accuracy of deposit rules. If your…
Effective for 2022 and later years, Congress reduced the threshold for the Form 1099-K filing requirement from $20,000 to a mere $600. So, you might ask, what does that have to do with me? This change…
If you sold your home this year or are thinking about selling it, there are many tax-related issues that could apply to that sale. To help you prepare for reporting the sale you may have already…
The Employee Retention Credit (ERTC) is a tool that encourages employers to keep employees on payroll during the COVID-19 crisis. The credit is currently available on wages paid to employees between 3/12/2020 and 9/30/2021 for businesses…
July 2022 Individual Due Dates July 1 - Time for a Mid-Year Tax Check-Up Time to review your 2022 year-to-date income and expenses to ensure estimated tax payments and withholding are adequate to avoid underpayment penalties…
The United States economy is nothing if not cyclical - which can be a good thing or a bad thing depending on when, exactly, you're trying to operate a business. According to one recent study, roughly…
Taxpayers often question how long records must be kept and the amount of time IRS has to audit a return after it is filed. It all depends on the circumstances! In many cases, the federal statute…
If you hire a domestic worker to provide services in or around your home, you probably have a tax liability that you don’t know about – or one that you do know about but are ignoring…
June Individual Due Dates June 10 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during May, you are required to report them to…
When was the last time you or your attorney reviewed or updated your will or trust? If it was before the passage of the 2017 tax reform legislation, or the Tax Cuts and Jobs Act (TCJA),…
Unfortunately, as a result of the COVID pandemic many small firms have gone out of business. However, with the help of vaccines and the waning lethality of the latest versions of the virus, new businesses will…
If you’re a business owner who has been through a recession before, you know that smart cash flow management is absolutely crucial. If you’re a new entrepreneur who hasn’t been through an economic downturn, you may…
If you have a second home in a resort area, or if you have been considering acquiring a second home or vacation home, and with summer just around the corner, you may have questions about how…