Are you dreading the upcoming tax season? Does the thought of organizing your business finances and preparing your tax returns send shivers down your spine? Look no further! In this article, we reveal the secrets to stress-free business tax preparation that will have you breezing through tax season with ease. With the right strategies and … Read more
Starting a business is no easy task and it can be overwhelming to conquer the many tasks involved and make sure that all the pieces are in place. However, with the right focus, it is possible to build a successful business with a solid foundation. The five pillars of successful entrepreneurship are key components to … Read more
In today's episode, we will recap the regular filing season and the year-round approach to taxes that most practitioners have. Taxes are a complicated yet essential part of life. An accurate and timely filing of taxes is important for a variety of reasons. Using a regular filing season, the Internal Revenue Service (IRS) provides the … Read more
Filing taxes is a daunting process, especially if you're filing for the first time. It's even more difficult when you find yourself unable to meet the April 15th deadline. But don't panic – you can still make it right. The IRS allows taxpayers to file for a tax extension, which gives you an extra six … Read more
Photo by Solo Shutter from StockSnap Business expenses are the cost of carrying on a trade or business, and there may be some tax breaks there. But a lot has changed in recent months, and the rules can be complicated. Are there business deductions you can take advantage of? Yes, but first you have to … Read more
Business owners aren’t in business to lose money. So there’s not much to like about a nonprofitable year. For a shareholder in an S corporation, however, a down year can have an upside — the corporate loss may give rise to a personal tax deduction. Standing between an S shareholder and the loss deduction is … Read more