Many business owners are still waiting for their employee retention credit checks from the IRS to arrive and all anyone can tell you is to just be patient. Sound familiar? Or perhaps you have received all your refund checks but you have not been properly advised of the tax consequences for claiming this specific tax […]
Many people think a 401(k) audit is only necessary for large companies, but that’s not always true. Even smaller businesses sometimes require an audit, and understanding when it is needed can help avoid potential issues. A 401(k) plan is a great way to help employees save for retirement, but it also comes with responsibilities for […]
Attention business owners: By now you have heard of a new filing requirement for your business called beneficial ownership information. Like most people, you might think, “Great! More hoops to jump through to operate my small business.” Below we will clarify exactly how this new regulation impacts your business. Background In 2021, Congress enacted the […]
Handling your business’s finances can be time-consuming and complex. That’s why many companies in the USA are turning to outsourced bookkeeping services. By outsourcing, you get a team of professionals to manage your financial records, allowing you to focus on what you do best—running your business. Outsourced bookkeeping services can help streamline your financial processes, […]
Are you curious about how much you might owe in taxes next year? A tax projection helps you figure that out in advance. It’s an estimate based on your current financial situation, giving you a heads-up about your future tax bill. With this guide, you’ll understand a tax projection, its key parts, and why it […]
Discover how seniors can benefit from property tax exemptions in our comprehensive guide. Learn what property tax exemptions entail and how seniors can qualify and claim these valuable benefits to reduce financial burdens in retirement years. Understanding the eligibility criteria and application process ensures seniors can navigate this opportunity effectively. What Is a Property Tax […]
The Employee Retention Tax Credit (ERTC) is a valuable financial lifeline for businesses navigating the challenges posed by economic disruptions. This comprehensive guide aims to demystify the ERTC, outlining its benefits, eligibility criteria, and application process. Whether you’re a small business owner seeking to retain your workforce or a larger enterprise looking to maximize financial […]
When managing finances for a business, understanding the differences between bookkeeping and accounting is crucial. While the terms are often used interchangeably, they refer to distinct processes with specific purposes. This guide will explore what bookkeeping and accounting are, how they differ, and why both are essential for the financial health of your business. What […]
Receiving a notice from the IRS about an audit can be a nerve-wracking experience for many taxpayers. Understanding what happens during an IRS audit and how to prepare can help alleviate some stress and ensure you are ready to handle the process effectively. This guide will walk you through a tax audit, the process, the […]
With the value of personal data increasing in the digital era, safeguarding consumers’ privacy is critical. Since the California Privacy Rights Act (CPRA) went into force, companies must abide by strict guidelines to protect customer privacy and security. In this blog, we’ll go into detail on what CPRA compliance means, what it requires, how to […]