The year 2020 has brought much confusion and turmoil as a result of the COVID-19 global pandemic. As the world went into lockdown, many businesses were forced to close in an effort to decrease the spread of the virus. Unfortunately, many local businesses had to shut down due to financial issues, while others were faced […]
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How Resilient Are Your Business Finances?
You set a budget, strategize for business growth and maintain financial oversight, and then the unexpected happens. If a key client (or employee) leaves, interest rates climb or a supply chain disruption hikes your costs overnight, the financial plan you built suddenly doesn’t fit your reality. As a small business owner, how confident are you […]
Your Business Owes Back Taxes. Now What?
Tax debt doesn’t usually show up overnight. But when cash flow gets tight or a bad quarter turns into two, business priorities can shift. By the time the IRS notices start arriving, your debt has grown and the pressure can feel overwhelming. The good news? A tax debt doesn’t have to mean the end of […]
Three Conversations to Have with Your CPA (That Aren’t About Taxes)
Most business owners only talk to their CPA between February and April. While it’s a no-brainer to communicate during tax season, the real value comes from the conversations you have the other nine months of the year. In fact, we meet with every business client at least quarterly. What do we talk about? From tax […]
Taking Tax Advice from Social Media? Think Again
If a tax credit or deduction sounds too good to be true, it probably is. There’s been a dramatic spike in suspicious refund claims, thanks to misleading social media advice and criminals posing as tax professionals. In fact, social media fraud even popped up on the IRS’ “Dirty Dozen” list, urging taxpayers to steer clear […]
Maximizing the Tax Benefits of Your Remote Workforce
The pandemic fundamentally altered how many U.S. businesses operate. Distributed teams and flexible arrangements have become permanent fixtures rather than temporary fixes. For employers and workers, this also means new opportunities and challenges for tax planning and compliance. The reality of remote workers Companies have discovered that productivity doesn’t require physical proximity. In fact, 60% […]