Contributing to your retirement accounts is an important investment into your financial future—but it can offer you some tax benefits too. It’s important that you consider both the immediate and future tax implications of your retirement contributions so that you can take control of your...
For those who have never had Social Security Benefits on their tax return, it’s important to understand how Social Security is taxed. Many people believe that this type of income is never taxed, but this is not always the case. The amount of your benefits...
As the saying goes, “Breaking up is hard to do.” Whether it’s a personal or professional relationship, ending it can get uncomfortable and, sometimes, quite complicated. If you’re considering ending your business relationship with your current CPA, the potential complications of switching to a new...
For those in the powersports industry, Lightspeed accounting software provides niche features that make bookkeeping and inventory management simpler and easier. And while the specialized nature of this accounting software is ideal for use in the powersports industry, it does make it difficult to find...
Last month, the federal government began issuing stimulus payments to qualifying U.S. citizens in an attempt to prop up the economy in the wake of COVID-19. These checks come as a relief to many who are struggling financially at this time, and were just a...
The financial aspects of your business are often better left to a professional. By entrusting tasks like your bookkeeping and tax preparation to a professional business accountant, you give yourself more time to focus on the daily operations of your business and ensure that the...
The holiday season has officially arrived. And, while you may be focused on Christmas shopping, family gatherings, and holiday parties, it’s also a good idea to take some time to examine your taxes. Far too many people wait until the New Year to worry about...
Business ownership comes with many ups and downs, and sometimes, those downs may include a net loss for your company. If this is the first time your company has experienced a net loss, you may not be sure how this impacts your business’s taxes. Keep...
Every year, hundreds of taxpayers fall victim to tax fraud. Scammers file false returns using your name and Social Security number, and collect refunds from the federal and state governments. The IRS has taken additional steps every year, trying to educate taxpayers and help them...
Starting your own business is an exciting venture, but there’s much more to it than the upfront sales and the products or services you provide. So much goes into establishing and building a business, and there are a lot of little details you have to...
