by Admin | May 31, 2022 | Business Taxes, Entrepreneurial, Tax Planning
If you own or manage an auto repair shop, then accounting and bookkeeping are likely pretty low on your list of favorite past times. Unfortunately, tracking revenue and expenses and other financial aspects of your business is absolutely essential to your success....
by Admin | May 26, 2022 | Business Taxes, Tax Planning
Unfortunately, as a result of the COVID pandemic many small firms have gone out of business. However, with the help of vaccines and the waning lethality of the latest versions of the virus, new businesses will be opening as the economy returns to near normal. ...
by Admin | May 24, 2022 | Business Taxes, Individual Taxes, Tax Planning
There’s an old saying that reminds us “if you fail to plan, you plan to fail.” Whoever coined that phrase was talking about the world of small business accounting whether they realized it or not. Financial and tax literacy aren’t just an...
by Admin | May 19, 2022 | Business Taxes, Tax Planning
Unlike a C corporation, which itself pays the tax on its taxable income, an S corporation does not directly pay taxes on its income; instead, its income, losses, deductions, and credits flow through to its shareholders’ individual tax returns on a pro rata basis....
by Admin | May 17, 2022 | Business Taxes, COVID-19, Entrepreneurial, Individual Taxes, Marketing, Tax Planning
To say that there is a lot going on in the world right now is truly a bit of an understatement. Starting a few years ago with the onset of the still ongoing COVID-19 pandemic, the role of the accounting professionals in the context of a small business began to change....
by Admin | May 12, 2022 | Entrepreneurial, Individual Taxes, Tax Planning
With the current substantial appreciation in home values and demand for housing exceeding the available inventory, along with low home mortgage interest rates, more and more homeowners are converting their existing homes into rentals when they buy a new home. Other...
