Peer-to-Peer Payments and 1099k Tax Reporting Changes
The IRS announced that the minimum reporting threshold would drop from $20,000 in payments (or 200 transactions) to just $600 as of the 2022 tax year.
Charitable Gifts (Donations): What You Need to Know Donating This Year
Charity is an important way for businesses and individuals to give back. For individuals, charitable giving can impact your tax return.
Gift, Inheritance & Estate Taxes: What you need to know
Last week, we discussed personal and business gift tax deductions. This week, we’ll look at the ins and outs of inheritance and estate taxes.
Gifts, Taxes, and Deductions: What You Need to Know Before Giving
Gift-giving is a generous way to show business associates how important they are in your life. In this post, we explain gift tax deductions.
How the Inflation Reduction Act Could Affect Your Taxes
The 2022 Inflation Reduction Act has been called “one of the most significant laws in our history.” It could have repercussions for your business.
Top 16 Questions to Ask When Hiring a CPA for Your Business
Look for a CPA with the proper experience and expertise for your tax situation. Start by asking these questions to when hiring a CPA firm.
How to Calculate Your Estimated Tax Payments
A common question business owners ask is how to calculate estimated quarterly tax payments. Here are a few ways to easily calculate your taxes.
Tax Relief Provisions Small Business Owners Should Know About
The COVID pandemic has led to significant new legislation that allows for additional tax relief. For example, the Employee Retention Tax Credit (ERTC) is a refundable payroll tax credit for businesses that experienced a downturn in sales because of the pandemic.
2022 Tax Deadlines You Need on Your Calendar
As we bring 2021 to a close, it’s time to start preparing your end-of-year business checklist. One of the most important things to include on your list is getting ready for tax season. Businesses have several tax deadlines to keep in mind, and in this article, we will discuss the most important tax deadlines.
6 Tax Deductions You Can Grab Before The End of The Year
With the end of the year rapidly approaching, many small businesses are focusing on their taxes and taking steps to reduce their year-end tax liability. There are several tax deductions that many small businesses are unaware of that can drastically reduce their tax bill.