Reminder to IRA owners age 70½ or over: Qualified charitable distributions are great options for making tax-free gifts to charity
The IRS this month sent out a notice reminding IRA owners age 70½ or over of their option to transfer up to $100,000 to charity tax-free each year. These transfers, known as qualified charitable distributions or QCDs, offer eligible older Americans a great way to easily give to charity before the end of the year. […]
What to know about deadlines for extended tax returns and quarterly payments
If, in the future, you’re unable to file your taxes by their due date, you may want to talk to your accountant or CPA about filing an extension. However, if you do opt to file for an extension, there are several things you’ll want to keep in mind. An extension of time to file your […]
Top accounting terms that all business owners should be familiar with
If you’re not a licensed accountant or CPA, accounting terms likely sound a bit Greek to you. And while no one expects you to be fully familiar with all accounting lingo, there are several terms that all business owners should familiarize themselves with. Balance sheet If you own a business, you should know what a […]
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 […]
Top 2 Reasons to Hire a CPA in 2022
Tax season is already in full swing—and regardless as to whether you need help with your 2021 taxes if you need help filing an extension, or you have questions about the types of tax planning strategies you can use to lessen your tax burden for next year, you should consider scheduling some time to meet […]
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 […]
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 […]
Signs your small business needs a CPA
Small business owners wear a lot of hats, such as head marketer, sales lead, and inventory manager, among others. Depending on how long you’ve owned your business (and depending on how large your organization is), you may also be serving as your in-house accountant. Accounting duties can take a lot of time, and as the […]