It is always a good practice to ensure your address on file with the IRS is up-to-date. Your mailing address is the ONLY way the IRS has to communicate with you. If they ever need to contact you (or send…
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The $2 trillion relief bill will send money directly to Americans, greatly expand unemployment coverage and make a number of other changes. We have been reviewing the stimulus bill and have compiled a list of answers to frequently asked questions…
The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small…
Usually, around the last week of January, I receive panicked emails about missing W-9 forms, missing social security numbers, or vendors who simply refuse to fill out W-9s. If this is you, do not worry. In this article, I have…
Sometimes it is necessary to close up shop. If you are in this situation, you are probably wondering what, if anything, needs to be done about your taxes. If your business is an S corporation, we have you covered. Below…
When it comes to federal income taxes and your business, understanding the basics of the Employer Identification Number (EIN) is important. This is especially true when just starting your business and determining if you need to apply for an EIN….
So you’ve realized that you messed up on part of your federal tax return? Are you freaking out? Do you feel like you’re being followed by someone in a black suit? First of all, chill. It’s going to be alright….
Getting a divorce is terrible enough as it is. Getting divorced when you own a small business is even more terrible, considering that there’s a good chance the business you’ve worked so hard to build could be considered marital property…
Getting paid under the table can feel like a win-win situation. After all, with no record of your income, you’re not responsible for paying taxes on it—and neither is your employer—right? The problem is, somebody is losing in this situation:…
The IRS will issue most refunds in less than 21 calendar days. Even though the IRS will issue most refunds in less than 21 days, it’s possible that your refund has been delayed because it is stuck in processing. There…