Videos & Articles
SDA CPA is committed to staying up to date on the latest tax trends, news, and legislature, as well as technology and advice to help your business succeed. Check back often for our latest info!
If the IRS has recently claimed that you owe a penalty for late filing, late payment, or missed employment tax deposits, pause before making any payment. You may not have to pay that penalty at all. The IRS often imposes steep penalties for filing tax returns late, failing to pay taxes on time, or not […]
Dogs, cats, and other household pets are expensive. Owners spend an average of $1,270 to $2,800 a year to own a dog. Can you ever deduct these costs from your taxes? The expenses for a family pet that provides you only with love and companionship are never deductible. They are purely personal expenses. But it […]
IRS enters next stage of Employee Retention Credit work; review indicates vast majority show risk of being improper Highest-risk claims being denied, additional processing to begin on low-risk claims; heightened scrutiny and review continues as compliance work tops $2 billion; IRS will consult with Congress on potential legislative action before making decision on future of […]
Tax experts can guide small businesses on the optimal organizational structure, advising whether to operate as a sole proprietorship or consider other formations like a partnership or S corporation for better protection of business interests. Tax professionals typically review financial records, ensuring all income is accurately reported and all eligible deductions and credits are claimed […]
On Sept. 14, 2023, amid concerns about aggressive ERC marketing, the IRS announced a moratorium on processing new claims. A specific resumption date hasn’t been determined but, at this point, the IRS anticipates it will be sometime in the late spring. This pause will help the IRS review the ERC inventory with strong, new measures of […]
We want to bring the Corporate Transparency Act (CTA) to your attention, a significant regulation that could impact your business. It’s crucial to review this as substantial penalties for non-compliance affect corporations and LLC owners (including real estate holding or small LLCs), among others. Effective January 1, 2024, the CTA requires certain companies to report […]
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