Business tax obligations can be exhaustive, spanning the breadth of federal, state and local jurisdictions. While income taxes and annual information returns tend to take center stage, it is equally important to prioritize sales tax compliance and keep up with updates...
Businesses seldom have the luxury of maintaining the same pace for very long. Supply issues, an influx of orders or economic downturns can create anomalies. But sometimes the business trajectory is squarely headed toward growth or contraction. When that becomes...
After decades of using 1099-MISC forms, the IRS recently recognized the need to separate amounts reported on the form that have different filing dates. The IRS now requires that non-employee compensation be reported on form 1099-NEC, putting additional compliance...
Certified Public Accountants (CPAs) and tax preparers can both help you file your business tax return, but knowing their advantages and limitations will help you choose the right level of support for your business. When deciding between CPA vs. tax preparer, consider...
A small business owner’s main goal at tax time is to maximize deductions and minimize tax liabilities. This process often comes with many technical questions. Where do personal and business expenses intersect and diverge? What is legal and what will be flagged? The...
The size of your business and the complexity of its finances often dictate how arduous tax season will be when it comes time to gather the necessary records. You may need a few weeks, or you may need to start thinking about tax season starting in Q4. Everyone,...
