by Admin | Nov 7, 2024 | Uncategorized
As the year draws to a close, it’s time to take stock of your business’s financial health. A year-end financial review isn’t just a box to check—it’s a crucial opportunity to assess your profit and loss, evaluate growth potential, and ensure your business is on...
by Admin | Nov 5, 2024 | Uncategorized
Tax preparers often encounter clients who are confused about the various tax credits available to them. Understanding these credits can significantly impact your tax liability and, in some cases, result in a refund. This article aims to demystify individual tax...
by Admin | Oct 31, 2024 | Uncategorized
As we step into 2025, millions of Americans are set to experience a notable change in their Social Security benefits. The Social Security Administration (SSA) has announced a 2.5 percent cost-of-living adjustment (COLA) for Social Security benefits and Supplemental...
by Admin | Oct 29, 2024 | Uncategorized
During the 2020 Regular Session, the General Assembly reenacted the Virginia Minimum Wage Act. The new statute stated the Commissioner of Labor and Industry shall establish the adjusted state hourly minimum wage by October 1, 2024, to take effect on January 1, 2025,...
by Admin | Oct 17, 2024 | Uncategorized
Tax season can be stressful, especially if you’re worried about penalties. Whether you’re an individual or a small business owner, IRS penalties can add up quickly, turning a simple oversight into a costly mistake. Understanding what triggers these...
by Admin | Oct 15, 2024 | Uncategorized
The Corporate Transparency Act (CTA) was enacted in 2021. Its purpose is to create business ownership transparency by identifying individuals who have either direct or indirect ownership (“beneficial ownership”) in a company. The overall goal is to alleviate...
