Fraudulent activities, both internal and external, can pose significant threats to small businesses, potentially leading to financial losses, a damaged reputation and legal consequences. Implementing effective strategies to prevent fraud is crucial for safeguarding your business's assets and maintaining trust with stakeholders.
Read MoreElevating Cybersecurity: The Power of Password Practices and Advanced Security Measures
Living in the Digital Age has its ups and downs. Advances in technological systems have presented opportunities of convenience unforeseen by our ancestors. At the touch of a button, command call and now even a scan of your face or finger, we are able to access an unlimited pool of knowledge.
Read MoreMore Than Just ‘Bean Counters’ – CPA Firms Also Offer Business Advisory Services
The days of the green eyeshades and pocket protectors are long gone. Services provided by CPAs can go far more in-depth than traditional tax preparation and bookkeeping. As your business plans for 2024, now may be a good time to partner with your CPA and discuss the variety of services that will help your business succeed in the coming year and beyond.
Read MoreNow is the Time to Take Advantage of Year-end Tax Planning Opportunities
With 2023 soon coming to a close, there are a few tax strategies that can save you quite a bit of money. Generally, they involve pushing income to the next year and pulling expenses into this year. Here are some tips to consider as you look at potential year-end tax planning decisions.
Read MoreThe Employee Retention Credit: A Valuable Tax Credit if You Know the Rules
The Employee Retention Credit (ERC) has received much attention and airtime encouraging employers to claim the credit before time runs out. TV ads include everyone from “Mr. Wonderful” (Shark Tank) to actor Ty Burrell (who plays the character Phil Dunphy on Modern Family) soliciting your business. But do you really qualify? That is the question.
Read MoreHow Artificial Intelligence is Shaping Aspects of Accounting
We’re hearing a lot about “artificial intelligence” or “AI” these days, and it refers to using technology to perform tasks with minimal human input. Accounting is just one of a number of industries that is being impacted by artificial intelligence.
Read MoreTax Benefits Covered in the New Inflation Reduction Act
Perhaps you’ve been hearing in the news about The Inflation Reduction Act – wondering what that means for you. We’re breaking down this Act and what it covers so businesses and individuals can determine how they may benefit from it.
Read More2022 Mid-year Planning for Capital Gains and Losses
If you are someone that has experienced a decline in your portfolio value, it may be a good time to review your situation and assess if it makes sense (from a tax planning standpoint) to sell losers and “realize” stock losses for tax purposes.
Read MoreImportant Tax Deadlines in June 2022: Do They Affect Your Business?
As children close out their school years and families gear up for vacation plans, businesses should also begin planning to make sure that they are addressing a couple of important deadlines that are coming up in June…
Read MoreKey Tax Credits Have Expired: What This Could Mean for You
While there have been a number of challenges this tax season, the end of several beneficial tax credits has caused anxiety and confusion for many taxpayers. Perhaps the one that is particularly exasperating is the end of the enhanced Child Tax Credit…
Read MorePPP Forgiveness: Urgent News About Nonconformity in California
Payroll Protection Program (PPP) loans have been a lifeline to businesses since the onset of COVID-19…
Read MoreThe IRS Backlog: A Taxing Situation
The landscape in the world of a tax provider looks differently these days as the Internal Revenue Service (IRS) is overwhelmed with high call volumes…
Read MoreAssembly Bill 150: Good News for Members of Pass-Thru Entities
As many taxpayers know, the IRS limits the deduction for personal taxes on Schedule A to $10,000. This is known as the SALT limit…
Read MoreChild Tax Credit
Recently, there were changes made to the child tax credit that will benefit many taxpayers. As part of the American Rescue Plan Act that was enacted in March 2021, the child tax credit…
Read MoreTax Implications of Cryptocurrency: What You Need to Know
Cryptocurrency (crypto) has been a hot topic in the news cycle for the past few months, and there is still much confusion surrounding the tax implications of dealing in crypto…
Read MoreRescue Plan for Restaurants
The American Rescue Plan Act of 2021 includes, among other things, funding of a $28.6 billion Restaurant Revitalization Fund…
Read MoreIs Your Business Missing Out on the Employee Retention Credit?
Most businesses are aware of the Payroll Protection Program (PPP), which included a first draw in 2020 and a second draw in 2021…
Read MoreHow to Value Your Business During COVID-19
The extent the economic impact the coronavirus has made can be evidenced by just looking outside and talking to those close to us.
Read MoreCould You Benefit from Tax Credits for Paid Sick and Family Leave Due to COVID-19?
Staying home has become our new norm these days – and whether you are home to stop the spread of COVID-19 or because you need to be there with your kids while schools are closed –Congress offers some help.
Read MoreNew Reporting Requirements for Independent Contractors
If you are an independent contractor, you’ll want to note that there are new reporting requirements for 2020…
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