DOs and DON’Ts to help protect your business expense deductions
June 25, 2025 | Brian Hare, CPA, CGMA
How to help protect your business expense deductions and to stand up to an IRS inspection.
Read More2022 deadlines for reporting health care coverage
February 3, 2022 | Paula Kennedy, EA
Ever since the Affordable Care Act was signed into law, business owners have had to keep a close eye on how many employees they’ve had on the payroll. This is because a company with 50 or more full-time employees or full-time equivalents on average during the previous year is considered an applicable large employer (ALE) […]
Entrepreneurs and taxes: How expenses are claimed
January 27, 2022 | Brian Hare, CPA, CGMA
While some businesses have closed since the start of the COVID-19 crisis, many new ventures have launched. Entrepreneurs have cited a number of reasons why they decided to start a business in the midst of a pandemic. For example, they had more time, wanted to take advantage of new opportunities or they needed money due […]
Tips for the 2021 individual tax season
January 27, 2022 | Paula Kennedy, EA
The IRS began accepting 2021 individual tax returns on January 24. If you haven’t prepared yet for tax season, here are three quick tips to help speed processing and avoid hassles. Tip 1. Contact us soon for an appointment to prepare your tax return. Tip 2. Gather all documents needed to prepare an accurate return. This […]
Let your financial statements guide you
January 27, 2022 | Brian Hare, CPA, CGMA
Now that 2022 is up and running, business owners can expect to face a few challenges and tough choices as the year rolls along. No matter how busy things get, don’t forget about an easily accessible and highly informative resource that’s probably just a few clicks away: your financial statements. Assuming you follow U.S. Generally […]
Numerous tax limits affecting businesses increased for 2022
January 19, 2022 | Paula Kennedy, EA
Many tax limits that affect businesses are annually indexed for inflation, and a number of them have increased for 2022. Here’s a rundown of those that may be important to you and your business. Social Security tax The amount of an employee’s earnings that is subject to Social Security tax is capped for 2022 at […]
Help safeguard your tax identity by filing early
January 19, 2022 | Paula Kennedy, EA
The IRS announced it is opening the 2021 individual income tax return filing season on January 24. (Business returns are already being accepted.) Even if you typically don’t file until much closer to the April deadline (or you file for an extension until October), consider filing earlier this year. Why? You can potentially protect yourself […]
Using B2B media to lengthen your marketing reach
January 19, 2022 | Kaitria LaFleure
Companies that sell products or services primarily to other businesses face a tough challenge when it comes to marketing. Your customers are likely well-versed and experienced in what they do, so you must not only persuade them to buy from you, but also communicate that you’re an expert in your industry or field. If you […]
Keep “Letter 6419” from the IRS
January 18, 2022 | Paula Kennedy, EA
If you received advanced child tax credit payments last year, the IRS will send you a “Letter 6419,” which will include the total amount of monthly child tax credit payments you received in 2021. Don’t throw the letter away – you’ll need it when you file your 2021 federal income tax return. You’ll have to […]
3 specialized IT leadership positions for businesses
January 12, 2022 | Ryan Burke, CPA, MSF
For many businesses, technology has changed from something they use to something they do. When a company reaches a point where IT plays a central role in operations and productivity, ownership might want to create one or more IT leadership positions to specifically oversee tech-related matters and strategy. Often, this means a Chief Information Officer […]
FICA tax credit for businesses on tip income paid
January 11, 2022 | Ryan Burke, CPA, MSF
If you’re an employer with a business where tipping is customary for providing food and beverages, you may qualify for a federal tax credit involving the Social Security and Medicare (FICA) taxes that you pay on your employees’ tip income. Basics of the credit The FICA credit applies with respect to tips that your employees […]