Business Accounting

September 29, 2020

Watch Out for Tax Penalties

Article Highlights: Underpayment of Estimated Tax and Withholding Penalty Required Minimum Distribution Penalty Late Filing Penalty Late Payment Penalty Negligence Penalty Fraud Penalty Dishonored Check Penalty […]
September 10, 2020

Thinking of Dumping Old Tax Records?

Article Highlights: General statute is 3 years Some states are longer Fraud, failure to file and other issues can extend the statute Records to dump Record […]
August 27, 2020

What President Trump’s Executive Order Means for You

We are still waiting for the dust to settle on what President Trump’s executive orders mean for taxpayers and business owners. There is a lot of […]
May 26, 2020

Your PPP Loan Forgiveness Will Probably be Less Than Anticipated

Article Highlights: Paycheck Protection Program Loan Terms Loan Amount Loan Forgiveness Reduction in Pay Decrease in Employees Qualified Expenses Limitation Documenting Forgiveness Now that you have […]
March 13, 2020
hiring tax credit

Congress Extends Employers’ Hiring Tax Credit for Another Year

Article Highlights: Potential Credit Eligible Employees Credit Determination Certification Process Other Issues On December 20, 2019, President Trump signed into law the Appropriations Act of 2020, […]
January 2, 2020

How to Clean Up QuickBooks for 2020

We know December is a busy month. However, take some time now to make sure QuickBooks is ready for 2020. Yes, it’s here again: the end […]
November 8, 2019

Employer-Offered Benefits That Can Save You Money and Taxes

Article Highlights: Health Insurance Retirement Plans Qualified Transportation Fringe Benefits Flexible Spending Accounts (FSAs) Group Term Life Insurance Qualified Employee Discounts Employer-Provided Education Assistance Adoption Expenses […]
October 8, 2019

Are You Subject to Self-Employment Tax?

Article Highlights: Self-employed Individuals Estimated Taxes Self-Employment Tax Estimated Tax Safe Harbors 1099-MISC and 1099-K Others Subject to Self-employment Tax income Not Subject to Self-employment Tax […]
October 3, 2019

What Is the Statute of Limitations on Unpaid Taxes?

If you have unpaid taxes that you haven’t yet been making payments toward, it might make you fearful that the IRS will come a-knocking one day to […]
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