Taxes are complicated, and, as your business grows, they’ll only get more difficult. Between books and taxes and everything else on your plate, keeping your finances in order can be overwhelming. And juggling multiple vendors just adds to the stress. Your tax services include bookkeeping so that you can get the full support from one place. Work with our CPAs to file on time and get the deductions and credits you deserve.
The best part? Your tax services will ensure that the tax planning strategies we implement for your business effectively flow through to your personal tax return to maximize your tax savings.
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What is the Research and Development Tax Credit (R&D Tax Credit) & Who Qualifies?
We all want a lower tax bill. However, for entrepreneurs, it is nearly impossible to keep up with the latest changes to the tax code. In this post, we take a deep dive into the Research and Development (R&D) Tax Credit, outlining how small businesses can take advantage of this beneficial tax break.
Your Small Business Tax Preparation Checklist
When it comes to taxes, it's always going to feel like you're being forced to think about last year while you're trying to focus on the new year. It's hard to stay organized that way. We hear you, so here’s a quick snapshot checklist (with a few pro-tips thrown in) to make sure you’re not solely focused on paying your taxes from last year, but on the growth ahead.
Small Business Tax Deductions & Credits That You Might Be Missing
Tax deductions and credits can be a major money-saving opportunity, especially for small businesses looking to make the most of their funds. Unfortunately, not everyone knows how to take advantage of the options that are available to them, or even what the difference is between a tax deduction and a tax credit. This time around, save money on your tax bill by learning about and familiarizing yourself with these commonly missed tax deductions and credits.
Guaranteed Payments or Draws
If you are starting a business, then you have faced this question: guaranteed payments or draws? If you have owner-operators and outside money (e.g., friends and family or angel investments), read on. You have some thinking to do.
Tax Deductions for New Businesses
It’s no secret that starting a business takes major capital. But did you know that new businesses are privy to certain money-saving tax deductions? Most startup costs are considered capital expenditures and can often be deducted if they’re associated with the preparation of opening, creating or investigating, and organizing the company. Find out if your expenses qualify and how deducting these costs can save you money in the first year of business.
Here’s the Best Time to Get Tax Advice From Your Small Business CPA
At the beginning of the year, financial advisors are spread extremely thin. So for more strategic help, it’s best to work with a tax advisor during the slow season. There are only two short windows during the year to get your small business tax advisor’s undivided attention. So, how do you capitalize on this time? Follow these steps for an insightful session that will significantly benefit your business.
Free Quarterly Tax Payment Calculator
Yes – tax estimates are dreadful, but they can make or break a tax filing (and your sanity) depending on how they’re handled. Most people feel like they don’t have a tax plan, and no one we talk to seemed to have a tool that helped. So, we took on that challenge and are proud to share our new quarterly tax payment calculator – to ensure you have a plan and have peace of mind headed into the next tax season.
How to File for a Business Tax Extension
We get it. Time flies. And if time has gotten away from you when it comes to filing your taxes, not to worry; you can file for a tax extension. While a tax extension might seem faux pas, it’s actually relatively common. In fact, out of approximately 140 million U.S. tax filers, there are about 10 million businesses and 5 million individuals who file tax extensions annually.
The 1099 Form: What You Need to Know About Filing
Is there a new 1099 form for 2021? How do I file a 1099 for self employed? What are the rules for 1099 employees? When is the deadline for filing 1099s? What information is needed to file a 1099? Can I request an extension? Are there any changes to consider from last year? What happens if I don’t file the required 1099s? We have answers to these questions and more in our official 1099s guide.
Founder Stock: The Tax Break You Shouldn't Overlook
Founder stock, otherwise known as equity given to the founding members of a business, allows you to exclude gains of up to $10 million. But do you know if you qualify, and if so, how to leverage the exclusion? Find out what you need to know about the qualifications outlined in section 1202 of the Internal Revenue Code, the tax benefits of a QSBS, potential legal and financial pitfalls, and more when it comes to owning founder stock.
2022 Tax Deadlines And Dates: What Business Owners Need To Know When Filing This Year
There’s more than one business tax deadline. We’ve included the most important dates to know, so keep on reading (and take note of any relevant tax deadlines to your business)!