It’s a well-known truth that running a small business is considered an audit risk for taxpayers. Auditors have found that self-employed people often claim too many deductions and write off…
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I heard a staggering statistic at last week’s Xerocon conference: 50% of small businesses fail without a financial advisor to help them understand their books. I looked deeper into the…
One of the most misunderstood concepts that our clients find confusing every year around tax time has to do with business expenses, assets, and depreciation. Specifically, when you spend money…
Prior to the Tax Cuts and Jobs Act (TCJA), taxpayers could exchange like-kind business property (such as trading in a business vehicle) and defer any gain until the property was…
Preparing for Year End As the end of the year approaches, it can be confusing to decide what information you need to get together and send to your accountant. We…
On January 25, the Better Business Bureau issued a warning about a new email phishing scam that targets the users of Intuit’s QuickBooks accounting software programs. The scam email contains…
Can you believe it is September already? As we head towards the fourth quarter, it’s time to start thinking about the upcoming deadlines remaining this year. There are tax deadlines coming up, and…
The new overtime regulations for full-time workers have passed. Employers will now be required to pay time and a half for overtime if a full-time worker makes less than $47,476…
A common question we deal with is when to capitalize and depreciate assets rather than expensing them. It is often advantageous for a client to be able to expense smaller…
The Federal Labor Department has offered some new guidance on the difference between contractors and employees. The Labor Department has authority to do so under the Fair Labor Standards Act,…
