Disaster Loans Extended by SBA until 2022
As the country begins to reopen, businesses find themselves recovering from the losses incurred this past year. After over a year of closures, losses and emergency planning, it will take some time for those businesses to be fully back to normal.
Did you file your tax return too early? What you can do.
Typically when we complete our tax return early, we are filled with feelings of accomplishment and relief. This was true for tax season 2021 until the American Rescue Plan Act was revealed. While we still felt relief for a completed return, there were now questions and concerns about deductions taxpayers could have taken advantage of had they waited a bit longer to file.
Increase in PPP Loan Amount Allowed to Small Businesses
A new update to the PPP Loan is changing the way we calculate the loan amount received by small businesses. Typically under the PPP Loan, you calculate the amount received based on net income. The new change has us calculating the amount received now based on gross income, ultimately allowing for an increase in the PPP Loan amount allowed to small businesses.
Tax Deadlines All Small Businesses Should Know
Following your dreams used to mean perfecting your craft or practicing your elevator pitch to perfection. However, you are a small business owner now so following your dreams has gotten a bit more complicated.
10 Business Expenses That Are Not Deductible
Various types of expenses are incurred through the normal course of operating a business. If the business operates to make a profit many of these business expenses are deductible either in total or in part.
What is a 1099 and Who Needs One?
A Form 1099-NEC serves a similar purpose however, it is provided to an individual who is not a direct employee such as an independent contractor.
How A CPA Can Help Your Business Build Credibility
Business owners know they have an exceptional product or service that the market needs. What we find out over time is that to sell the product we are often called on to also be marketers, lawyers, administrators, web designers, and yes, accountants.
12 Tax Terms All Small Business Owners Should Know
Navigating tax terminology can feel like you are swimming upstream. Not every tax term is going to apply to your business. Here is a list of general tax terminology that all small business owners should be familiar with.
7 Tax Credits Small Businesses Should Know About
A goal of every business (and individual) is to minimize the amount due to the IRS when filing taxes each calendar year. The world of taxes can be a confusing place, particularly for a small business owner who may not have any tax knowledge on staff.