What to Do If You’re Being Audited By The IRS
Less than 4 out of every 1000 tax returns submitted to the IRS in 2022 was audited. That’s not even one-half of one percent. But the thought of being audited…
Business Owners, Were You Happy with This Year’s Tax Bill?
Tax filing season has just ended and we are already hearing from business owners who were stunned by a larger than expected tax bill. We are also hearing from business…
1031 Exchanges for Real Estate Investment Businesses
If you are a real estate investor, you will periodically sell a property before you have a new property to purchase in sight. It’s a good idea to understand at…
Here’s Why You Need More Than QuickBooks
QuickBooks is a great tool for business owners. It can help you see your financial picture from a variety of perspectives, and even help you determine how profitable your business…
Three Tips if You’re Running a Family Business (or Plan to)
Are you running a family business or thinking about transferring the ownership of your company to a family member when you retire? If that describes you, these tips will help.…
Exit Ahead: Are You Ready?
One of the activities small business owners delay most frequently is planning for their exit from the business. They feel that it’s too soon to plan an exit when they…
2022 Year End Checklist for Small Businesses
It’s December and that means it’s time for you to make a few key moves before the new year begins if you have not already done them. Make Sure Your…
Updated 1099 Rules You Need to Know for 2022
Most people are aware of the 1099 forms that are required if they were paid as a contractor or consultant (i.e., not as an employee), received interest or dividends, or…
Two Common and Costly Yet Avoidable Tax Mistakes
It’s time to start planning for 2023, and before you know it, we will be talking about filing your 2022 taxes. Before you get involved in end of year planning,…
What You Need to Know About Recent Changes to the W4
Federal Income Tax is a pay-as-you-earn system of tax. Accurate calculation of the amount of tax withheld requires some basic information from the employee. They provide this information to you…