Educating Business Owners about Tax Deductions.
IRS introduces Chat Bots
Have you ever had communications with a Chat Bot? I have used chat bots when I have software questions or when I have ordered something and need help with my order. This has largely been a horrible frustrating experience for me. How about you? Well, the IRS announced...
Is your TEAM working?
CPA firms nationwide have been struggling to find A Players for their teams, especially experienced A Players. I have been working with several medium sized firms over the last few weeks as their Fractional CEO, implementing the tools and strategies that I used to...
How do you know if your donation is tax deductible?
Between rising prices from inflation and natural disasters over the summer, the need for donations is bigger than ever. We are all doing the best we can to support our communities. There are tax deductions available for charitable donations that you make but beware,...
Before you celebrate – check the facts with your tax advisor
Yesterday, I had the opportunity to watch a recording of a quarterly consulting session with my client and his business coach. Several times the business coach said " I am not a tax expert but". Yup, its the "but" that will get you every time. The advice he was giving...
Estimated payment due FRIDAY
REMINDER - taxpayers who pay estimated taxes that the deadline to submit third quarter payment is Sept. 15, 2023. Is this you? Taxpayers not subject to withholding may need to make quarterly estimated tax payments. Taxpayers such as gig workers, sole proprietors,...
Tax deductible student loan payments – for your employees
The timing couldn't be worse for employees facing student loan payments again. Before you lose employees who are looking for jobs paying them more money, be aware that you can pay up to $5,250 per employee per year towards their student loan obligations and this money...
IRS unable to locate millions of tax records
Wow, did you see this article in the press? The IRS his unable to locate millions of tax records! Frightening! The agency said underfunding forced it to redirect employees responsible for inventories to other jobs. As part of a review of the IRS’ mandatory storage of...
The 2022 S Corp and Partnership Tax Return filing deadline is in 30 days
For those of you who filed an extension in March of this year for your S Corporation, multi member LLC or partnership return, the time has come to get that return filed by September 15, 30 days from now. Have you cleaned up and completed your 2022 bookkeeping? Is your...
Which accounting software is best for taxes?
Keeping track of your income and your expenses as well as keeping your receipts is critical for every step of your tax minimization journey. For us to be effective and efficient as advisors, we need a trail of numbers. Every single number counts. So, accounting...
Energy Efficient Home Renovations – Get your Tax Credits!
Renovating your home? Please make sure you consider the various energy home fficiency tax credits available to you. The Inflation Reduction Act of 2022 created several clean energy credits for your home. The credit amount is equal to 30 percent of the total amount...