Once you’ve gone through the process of making your business an S corp, you are likely wondering how you get paid. You are, after all, your best employee, so let’s make sure you get this right. In this article, I…
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The number of people permanently working remotely is on the rise. For many, this is the first time working from home has been an option, so how to file taxes while telecommuting is a hot question right now. I want…
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…
Taxes and health insurance are two areas of your business that you probably don’t want to spend much time thinking about. These topics are boring and confusing to most people. I get it. The good news is that I actually…
As an accountant who works with small business owners, I know how much tax liability can impact the lives of our clients. In fact, the question I hear the most is: “How can I pay less in taxes?” This is…
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….
When you’re starting a new business, everything is already overwhelming enough—forget having to fill out new and unfamiliar forms come tax time! And the Schedule C can look like a doozy, but I promise, it’s not that difficult (especially if…