Remember to consider your Section 199A deduction in your year-end tax planning. If you don’t, you could end up with an undesirable $0 for your deduction amount. Here are three possible year-end moves that could, in the right circumstances, simultaneously (a) reduce your income taxes and (b) boost your Section 199A deduction. First Things First […]
Not even two months into the 2022 tax season, the IRS is backed up with unprocessed filings from 2021. Millions of returns, including business and payroll tax returns, haven’t been processed, and the IRS is unable to provide a timeline for when they will be. We thought it was important to update you on this […]
In mid-November President Biden signed the Infrastructure Investment and Jobs Act into law. This new legislation includes tax provisions related to the Employee Retention Credit and other items important to small businesses, so I wanted to take a moment to update you all on how this law may affect your business. And while this law […]
Mistakes happen, and sometimes they’re hard to avoid. However, many common accounting mistakes are easily avoidable. We wanted to share some of these with you and give you some tips on how to avoid them. Data Entry Errors One of the most common accounting errors in any business is related to data entry, and yet, […]
Recently, the IRS released their “Dirty Dozen” list of tax scams for 2021. Each year, the IRS highlights the twelve “worst of the worst tax scams,” and this year’s list was announced at the end of June. We thought you should all be aware of these common tax scams and provide you with some tips […]
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