News & Updates
Businesses Get More Time to Apply For PPP Loans
Here's what you need to know about the Paycheck Protection Program (PPP) loans and other business relief provisions of the recently-passed American Rescue Plan Act.
New Tax Breaks Benefit Millions
The recently-passed American Rescue Plan Act contains several tax breaks for you and your family. Here are the major provisions of the bill that could mean more money in your pocket during the 2021 tax year.
Individual tax return deadline moved to May 17
Congress' recent move to retroactively make a portion of 2020 unemployment income tax-free is creating havoc during this year's tax filing season. Here is what you need to know.
Starting a Business Now Could Make a Lot of Sense
The same factors that we've been dealing with for the past 12 months during the pandemic can also create an opportunity if you are considering starting a small business.
The $24,000 Tax Time Bomb
Because neither the bank nor federal taxing authorities believe it is part of their duty to help you make knowledgeable tax decisions, you are on your own. This one-way street of knowledge makes having an expert on your side more important than ever!
Get Your Contractor or Employee Classification Right
As a small business owner, you may face the issue of whether to classify workers as employees or as independent contractors. Need help navigating which classification is right for your business needs?
The New World of Bank Reconciliations
Here’s a look at the new world of bank reconciliations and some ideas to use to ensure your bank account is accurate.
Answers to Common Tax Questions
Tax season is here. Still have questions? We’ve got answers!
Hiring Family Members - What You Need to Know
Many business owners hire their children, their spouse, or other family members to work in their business. Sometimes this works out well. Other times it causes problems. Let’s look at the pros and cons of putting family members on your payroll.
Protect Your Tax Return With This Secret Weapon
Beginning this tax season, all taxpayers who can verify their identities are eligible to obtain an IP PIN. An IP PIN is a 6-digit PIN that offers additional protections when filing your tax return. This one-time-use number is sent to you by the IRS and must be entered on your tax return along with your Social Security number. Since the IP PIN is a one-time-use number, you will receive a new IP PIN number each year from the IRS.
Your Identity is NOT Your Own!
One of the most valuable things you own is YOU. Your identity includes the basics - where you live, your age, and your gender. But it also includes your interests, who you know, and what you buy. So, do you know who has your identity? Here’s the life cycle of your identity and what to do to protect it
Organized Business Records Save Time and Money
You’re busy, and you may feel that organizing your records will take more time than you have available. But spend a minute and consider how using these organizational tips may save you not only time, but money as well.
Be Prepared For These Pandemic-Related Tax Surprises
Don’t get shocked by a high tax bill! Be prepared for these pandemic-related tax surprises when you file your 2020 tax return.
4 Ways to Make Sure Your Tax Return Doesn't Get Stuck
These are four of the more common reasons why the preparation of your tax return may get delayed. Be prepared and file your return without a hitch!
Make Preparations for Form 1099s This Year
Here are three tasks to consider that will make meeting your business's information reporting requirements less stressful this tax season.
Seven Tips For Financial Wellness In 2021
Common New Year’s resolutions are to lose weight or become more active. Perhaps 2021 is the year to shift focus. Here are seven tips to help you become more financially fit.
PPP Loan Expenses Are Now Tax Deductible
If you or your business received funds from the Paycheck Protection Program (PPP), the recently passed Emergency Coronavirus Relief Act of 2020 will help to dramatically cut your tax bill. Here’s what you need to know.
More Stimulus Payments on the Way
You could soon see another stimulus payment in your bank account with the recent passage of the Emergency Coronavirus Relief Act of 2020, which means more direct relief to you and your family. Here are some of the major points you need to know that are buried inside this $900 billion piece of legislation.
Using Depreciation to Control a Loan Forgiveness Tax Surprise
Many businesses struggling during the pandemic took out Small Business Association Payroll Protection Program loans (SBA PPP loans). The SBA's willingness to forgive these loans is now creating a potential tax obligation.
Ideas For Better Savings Rates
Before the housing bubble burst in 2008, you could find high yield savings accounts that were paying rates over 5.0 percent. Today? These same banks are paying less than .10 percent.
So where are you supposed to put your money? Is there anywhere else you can put your hard-earned cash and generate a modest return?