Keys to Keeping Up with Changes for the 2021 Tax Season

Keys to Keeping Up with Changes for the 2021 Tax Season

The 2021 tax season is unlike any before. With filing deadlines just weeks away, businesses are grappling with the challenges of the ongoing COVID-19 pandemic while also waiting on lawmakers and regulators to decide key issues impacting 2020 business taxes. Tax...
Should you file a 1099-NEC or 1099-MISC form this year?

Should you file a 1099-NEC or 1099-MISC form this year?

Prior to 2020, Form 1099-MISC was standard for non-employee compensation (NEC). This is no longer the case. Beginning with tax year 2020, employers should use Form 1099-NEC to report non-employee compensation. Here’s what you need to know to file correctly by the 1099...
8 Tax Minimization Strategies for Businesses

8 Tax Minimization Strategies for Businesses

Minimizing your company’s taxes is a year-round effort. Consider the following tax minimization strategies for your year-end spending and tax planning. 1. Section 179 Deduction for Investments in Property and Equipment Companies can deduct as much as $1 million for...

5 Guidelines to Remember as Tax Reform Takes Hold

With 2018 in full swing, the business community is waiting to see what sort of fallout comes from the new tax reform bill.   While the benefits of the tax bill have been signed and presidentially sealed, the political world’s influence on the business realm...

7 Accounting Tips for Surviving Tax Time — And Thriving Anytime

The New Year’s celebration is long over. The ball dropped, crews cleaned confetti from the streets, and now we’re all sobering up to the realization that it’s tax season.   While taxes are an annual “tradition” at every company, one survey found that 71 percent...
Must-have Tax Preparation Checklist For Your Business

Must-have Tax Preparation Checklist For Your Business

Every year, the same thing happens as tax season looms: we get a bunch of last-minute, frantic clients worried about getting their taxes paid on time. They throw us every document they can find, get frustrated when we ask follow-up questions and request additional...