Beneath the headlines of the disease killing thousands and infecting tens of thousands worldwide sits other news: panic buying at Costco, whipsawing on Wall Street, and the specter of unprecedented disruption to everyday lives and business — all with barely five weeks to go before Tax Day. So, how are tax professionals planning on dealing… Read More

5 Benefits of Business Credit Cards for Small Business Owners Most experts agree that business owners should use a business credit card, rather than their personal card, for business expenses. Yet many small business owners continue to use their personal credit cards for business-related spending. Perhaps applying for a business credit card just hasn’t topped… Read More

Tax updates aren’t always bad news. Here are a few helpful changes for the new year. A new year means a whole new set of tax laws to follow. Thankfully, these four changes are all positive ones that can put more money in your pocket in the course of 2020. A higher standard deduction Tax… Read More

What Happens if You Don’t Pay Your Taxes? Avoid stress – and steep financial penalties – by filing your taxes on time. TAX SEASON WILL BE HERE before you know it, and you may be wondering what could happen if you don’t file your 2019 returns by the April 15, 2020 deadline. For many people, filing taxes is… Read More

No one likes filing their taxes, but not filing them at all is never a good idea. The IRS is a powerful collection agency, and an unforgiving one. Getting on the bad side of the tax agency is not fun and having years of unfiled returns is one of the worst moves you can make.… Read More

Guidance issued on payments to charitable organizations Proposed regulations issued by the IRS on Friday provide guidance on the treatment of payments made to charitable organizations in return for consideration, including in return for state and local tax credits (REG-107431-19). The regulations incorporate two earlier pieces of IRS guidance, Rev. Proc. 2019-12 and Notice 2019-12,… Read More

Here’s everything you need to know about your 2020 taxes Get out your pencils and calculators: The IRS has released a breakdown of what’s ahead for the 2020 tax year. Taxpayers who’ve been paying close attention will notice that the Tax Cuts and Jobs Act overhauled the tax code. Those sweeping changes include a higher… Read More

Have you been planning to invest in your business but just couldn’t come to terms with paying the full price? I know where you’re coming from. And if you can wait, it’s definitely worth holding out for Black Friday / Cyber Monday. For small-business owners, the Thanksgiving shopping season is a perfect opportunity to refresh… Read More

As small business owners, we’re resourceful and take pride in doing things ourselves. This resourcefulness is helpful when we start our business as we can minimize costs and run a tight ship. But as our business grows, so to do our responsibilities. With so many tasks and limited time in the day, A DIY approach… Read More