Congress Delivers Last Minute Gift to Businesses with PPP Loans

Yesterday, Congress passed a bill with a plethora of tax law changes including some changes to the taxability of how expenses are treated for businesses with PPP loans. Until yesterday, the IRS took the position that expenses paid using funds provided by Payroll Protection Program loans were not deductible if the loan was ultimately forgiven. […]

Early Bird Program for Corporate and Partnership Tax Returns

Our early-bird incentives are back! Once again, I am contacting many of my business clients with the goal of trying to schedule dates to submit corporate or partnership tax work in 2021. As you know, we work with an extremely compressed deadline schedule from January-April. Most of our work comes in after 2/1 which means […]

Business Owners: Year-End Tasks you MUST be Aware Of

Attention Business Owners! Now is the time to get ready for year-end and make the tax preparation process easier and less stressful. There are some things you HAVE to get done before 12/31. Click here for our complete list. Here are some of the more important things to be sure you get done in the […]

Our 2020 Business Year-End Planning Guide is Available

If you own a business of any kind, please be sure to check out our 2020 year-end tax planning business guide. This guide has various strategies to minimize taxes including: Strategies depending on whether 2020 is a higher income year than 2021 How to defer income into next year How to accelerate expenses into 2020 […]

Can Business Owners File for State Unemployment?

If you are a business owner and face the risk of shutting down, can you file for state unemployment? The answer will vary by state, but for most states this depends on the entity you choose to run your business. Let me preface this by saying I am not an expert in state unemployment laws, […]

Coronavirus Disaster Assistance for Individuals and Businesses

coronavirus disaster assistance

With the COVID-19 related shutdowns and government mandates, a wide variety of programs and assistance are becoming available for individuals and businesses. Check this site frequently for updates as we assemble a list of programs you may be able to take advantage of. If you are aware of other programs, please comment or drop us […]

Last Minute Tax Planning for 2017 Under the New 2018 Tax Bill

With Congress giving taxpayers barely a week to react before the end of the year, the new 2018 tax bill does present some unique opportunities to do last second tax planning for 2017. Much of what can be done before year-end is standard tax planning advice. We caution that these are standard planning techniques that taxpayers […]

13 Year-End Business Tips to Make Sure You Are Ready for Tax Season

For many business owners, the year escapes them and causes their bookkeeping to get behind. Here are 13 year-end business tips to get your books in shape and make sure you can take advantage of all your deductions and be ready for your CPA to get your taxes done. The following items are many of […]

Retirement Plan Tax Savings Strategies

Are you looking for retirement plan tax savings strategies? Retirement plans can generate the best tax savings for business owners and employees alike. And these tax savings can be either current savings, or savings during retirement. Fully funding your company 401(k) with pre-tax dollars will reduce current year taxes, as well as increase your retirement […]