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Employee Vaccinations Make You Eligible For Tax Credits

If you’ve been Googling “tax services near me” to find out your eligibility for tax credits, look no further! Have you or your employees been vaccinated?💉 You may be eligible for tax credits.🤑 The federal government wants to encourage employers to allow employees paid time off for vaccinations and their potential side effects. They’ll give back a generous tax credit …

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CFO Report: COVID EIDL Limit is Now $2 Million

If you’re a CFO, take note: The SBA has quadrupled the COVID-19 EIDL limit to $2 million.The Small Business Administration is officially raising the cap on its Economic Injury Disaster Loan program to $2 million, the agency announced Thursday.The U.S. Small Business Administration (SBA) announced significant modifications to the COVID-19 Economic Injury Disaster Loans (EIDL) program, including raising the loan …

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Family Businesses: Hire Family for Double Benefits

Need tax preparation services? We have some great tips to get you started. This simple strategy can help your business and improve your household’s disposable cash flow. In addition, you will generate favorable tax results for both the newly employed family member(s) and your business (think double benefit). One smart move could be hiring one or more family members to …

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Bookkeeping Tip: Here’s How to Avoid an IRS Audit

Worried about an IRS audit? Always keep in mind these two bookkeeping maxims: 1) File your income taxes 2) Report all the 1099 income. When Steven R. Olmos’s case came to trial, he resided in Niles, Ohio. His case was simple: Olmos did not file a tax return for the year he operated his dental practice in La Mesa, Calif. Of course, …

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CFO Says: You Can Party With Your Team and Deduct 100% of the Costs!!!

An Professional CFO knows that you can still party with your team and deduct 100% of the costs! Does your CFO know this? It’s true – you can still party with your team and deduct 100% of the costs when you know the rules!!! Interestingly, if you feed your employees during a training program, your deduction is only 50 percent. …

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Does Your Small Business CPA Know How To Help You Avoid Tax Penalties?

Does your small business CPA know how to help you avoid one of the biggest IRS tax penalties? When is a tax return considered late by the IRS? What are three terrible things that can happen when you file your tax return late? Read on to learn the answers to these questions and more. What’s Late? You can extend your …

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Bookkeeping Tip: Pocket up to $500,000 Tax Free

Did you know that the right bookkeeping can allow you to pocket up to $500,000.00 tax-free? That’s right! And how to you do this? Easy. Use your primary home to build wealth. As you know, real estate prices keep going up, and supplies of new homes are not keeping up with demand. Now is the best time to get top dollar …

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CFO Tip: Do Not Miss These Important Tax Deadlines!

CFO tip: Do you want to avoid tax debt penalties? Don’t miss these important deadlines! You only have a few days to file your income taxes; you will not pay any penalties if you file by: September 15 for partnerships and S-corporations October 15 for individuals, sole proprietorships, C-corporations, and LLCs taxed as disregarded entities. Can You File On-Time and …

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Bookkeeping Tip: Cut Your Capital Gains With Crypto

Here’s a bookkeeping tip for you – you can cut your capital gains taxes with crypto. Here’s how to cut your capital gain taxes with cryptocurrencies. Wash Sale Rule: The Wash-Sale Rule states that if an investment is sold at a loss and then repurchased within 30 days, the initial loss cannot be claimed for tax purposes. To comply with …

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Bookkeeping 101: Tax Preparer vs Planner

Bookkeeping 101: What is the difference between a TAX PREPARER and a TAX PLANNER? There’s a MAJOR difference between a tax preparer and a TAX PLANNER. A tax preparer tells you how much you “OWE” A tax planner tells you how much you can “SAVE.” Right now, we’re offering FREE tax assessments to businesses who want to keep more of …