How to Find a Good Accountant for Your Business
If you’ve decided that it’s time to outsource your accounting processes, you’ll want to make sure that you hire the best person (or firm) for the job. Hiring a qualified, experienced accountant is a process that requires several diligent steps. Remember, knowing that you need an accountant, versus understanding how to hire one, are two […]
What you need to know about extended tax returns
What you need to know about extended tax returns Most people don’t know that the tax filing deadline isn’t set in stone. If you’re unable to file by April 18, you can apply for an extension. What you do need to keep in mind is that if you think that you’ll owe money to the […]
Signs it’s Time to Hire a CPA
Filing your taxes can be an arduous task- especially if you don’t have a straightforward return. If you own a business, have lots of deductions (and/or you have questions about deductions you may be eligible for that you haven’t been taking advantage of), or you have questions about tax planning, it may be time to […]
Top 3 Reasons Your Small Business Should Hire a CPA Firm
Tax laws are complicated, and the tax code is constantly changing. Suffice to say, small business owners can benefit greatly from working with a professional. Hiring an accountant is good, but working with a full-service CPA firm is a lot better. Below are just a few of the reasons you should hire one. They can […]
Benefits of year-end charitable planning
Despite the global pandemic, charitable giving is at an all-time high. For example, data from Giving USA estimates that US-based donors gave a whopping $471.44 billion (yes, that’s a billion with a “B”) in 2020. Although the 2021 numbers are not yet out, it’s believed that this year’s donation levels could be similar. If you’re […]
Benefits of year-end tax planning
If you haven’t started thinking about your 2021 taxes, now is the time to do it. Yes, the tax filing deadline may still be months away, but if you don’t start planning now, you could wind up leaving money on the table. Let us explain. You’ll want to maximize contributions to your retirement accounts December […]
IRS warns of offer in compromise tax scams
If you or someone you care for has tax debt with the IRS, it’s natural to want to find a way to settle the debt as quickly and seamlessly as possible. In some cases, this involves making a one-time direct payment to the Internal Revenue Service. On the other hand, if you’re unable to pay […]
How to protect your business from occupational fraud
As a small business owner, you understand the importance of protecting your company (and your clients) from fraud. However, in addition to taking steps to protect sensitive data, such as financial and personal records, you’ll also want to make sure you work to prevent occupational fraud. Below are just a few of the things you’ll […]
Can I amend my own tax return?
If you’ve learned that one or more of your prior tax returns contains errors, you’ll likely need to file an amended tax return. An amended tax return is something you’ll file with the IRS, and once filed, the amended return will fix prior errors. If you (or your accountant) make another mistake on your amended […]
What is an amended tax return?
Filing a tax return can be tricky, especially if you’re trying to prepare the form yourself. Filing your own taxes can be especially difficult if you’re a small business owner, you’re claiming lots of deductions, or you’re trying to account for certain carryover deductions, such as losses, charitable contributions, or various types of tax credits. […]