With all of the changes in tax laws, and with more to come, do you know if you are taking advantage of all possible savings?
Whether you do your own taxes or have had the same accountant for the past 10, 20 or 30 years, it can be beneficial to have someone else take a look at your tax situation and make sure that you are not losing out on deductions that are allowed to you.
Tags: Tax, tax savings, business tax, business tax savings
The U.S. Small Business Administration (SBA) has released a new, simpler loan forgiveness application for the Paycheck Protection Program (PPP) loans of $50,000 or less. The new form streamlines the PPP forgiveness process by providing financial and administrative relief to America's smaller businesses.
Read MoreTags: Tax, coronavirus
Presented by Rex Ours, CPA and David Knecht, CPA, CVA, MAcc
You have your PPP loan, the clock has started, now what? The next step is to spend it during your eight week window in a way that maximizes loan forgiveness. How do you do that? Watch and see below.
Read MoreTags: Tax, coronavirus
Managing cash flow is one of the biggest challenges involved in running a small business. Thankfully, there are a few secrets you can use to keep the dollars flowing.
Read MoreTags: Tax, Accounting, cloud accounting
Budgeting and forecasting are necessary evils to keep a company on track to meet their short-and long-term goals. Unfortunately, the process can be time-consuming and complicated. As CEO, you will want to make this yearly task move as quickly and painlessly as possible.
These six tips will act as a better way forward when completing your budget and forecast for the coming year.
Read MoreTags: Tax, Accounting, budgeting, Forecasting
The cooler weather is hinting that the holidays are right around the corner, which means that the end of the year is upon us. Now is the right time to plan your year-end tax strategy in order to maximize your savings before December 31st!
Tags: Tax, Accounting
One questions that I often recieve from clients is what should I do to improve my chart of accounts? To answer that I have here 3 tips to improve your chart of accounts.
Tags: Entrepreneurship, Tax, Accounting
We recently held our annual 401(k) meeting where our investments administrator came to our firm and gave us a presentation on the state of our 401(k). In addition to that information, he answered questions we had about our account or investing. Our investment administrator, explained the differences between the two types of IRA’s, and what we should consider when choosing which retirement account is right for us.
Tags: Tax, Compensation
When I was an auditor working for the State of California’s Franchise Tax Board (FTB), I saw some very interesting expenses that taxpayers claimed and hoped would qualify as deductible business expenses. I have audited taxpayers who deducted personal vehicles as business expenses, personal costs as consulting expenses, or fines and penalties as dues and subscriptions (yes, parking fines are not considered business expenses). Based on the experience and the knowledge I obtained at the FTB, I would like to identify some expenses which are deductible and some which are not.
Tags: Tax
People often ask me what is an S corporation, what are the requirements to be an S corporation or whether a certain action will revoke an S election? So let’s discuss S corporations today.
Tags: Entrepreneurship, Tax
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