IRS Individual Online Accounts
When it comes to taxes, a big challenge many business owners and individuals face is keeping track of all of the data they need for filing taxes or handing things off to their accountant. Thanks to the IRS, their online services account helps with this challenge and organizes your information in one single place. This […]
PA Sales and Use Tax: What You Need To Know
Many small businesses understand that Pennsylvania has a sales and use tax, but the use tax portion of the law isn’t always understood. As collecting use tax is becoming more important to the Department of Revenue, it’s vital that every small business reports and pays use tax correctly. How do you do that? We’re sharing […]
Advance Child Tax Credit
The IRS announced that the Child Tax Credit for 2021 will be raised to $3,600 for children under 6, and $3,000 for children 6 to 17 years old. As part of the pandemic relief package passed earlier this year, qualified taxpayers will be eligible to receive advance payments on their estimated Child Tax Credit for […]
A Small Business Guide To Quarterly Taxes
As a business owner or entrepreneur, paying taxes and the often-dreaded tax season is unavoidable. While we can’t simply ignore these business requirements, they can feel a bit more manageable and easy to keep up with when done in pieces: cue, quarterly estimated taxes. Your familiarity with quarterly taxes depends on the size of your […]
Your Last-Minute Tax Filing Checklist
Announced March 17, 2021, the IRS has extended tax day for individuals from April 15 to May 17, 2021. Getting things in order If you’re still working on pulling together all of your information for your 2020 tax filing, it is not too late! We’re sharing a last-minute tax filing checklist to help you get […]
The American Rescue Plan Act of 2021
Last week, President Biden signed the American Rescue Plan Act into law. The bill includes many provisions that have major tax impacts on 2020 and 2021 tax returns. To make sure our clients get the maximum tax benefits they are entitled to, we are holding off the completion of any returns that are impacted by […]
Documents To Prepare For This Year’s Tax Filing
Whether it’s your first time filing taxes for your business this year or your tenth, being prepared for tax season and keeping your documents organized will save you time and make the process go smoothly. Unsure of what documents you even need in order to file your taxes? We’ve got you covered. We’re breaking down […]
Paying Yourself When You Are Self-Employed; Understanding the Options
Paying yourself when you are self-employed is not always a simple affair. Staying on the right side of the tax laws means you can’t always just have someone write you a check, deposit in your bank account and be done with it. When you decided to head out on your own, at least one of […]
Taxes and Cryptocurrencies
Cash or property? If you have used or invested in cryptocurrency, such as Bitcoin, the taxes may not be as straightforward as you think. Taxes are what we know best, and we’re here to walk you through the layers of filing your taxes when owning cryptocurrency. What is cryptocurrency? Cryptocurrency is a digital form of […]
Business Survival Guide for COVID-19 Outbreak
We are facing uncertain times… COVID-19 is forcing all businesses to adjust in a multitude of ways. Many business owners are rightfully concerned what this means for their companies as they navigate this unprecedented period. Our mission is to help you thrive. Consider the provisions listed below to protect your business, employees, and financial future. […]