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Month

January 2023
11
Many owners of small businesses are unaware that an astounding 80% of American firms fail within the first 18 months. Accountants may perform a thorough analysis of your finances and produce a forecast for the entire year to maintain the health and prosperity of your company. Usually, poor money management is one of the key...
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11
The Internal Revenue Service said Tuesday that the term “digital assets” has replaced “virtual currencies,” a term used in previous years, on various tax forms. Taxpayers, the IRS said, “must again answer a digital asset question and report all digital asset-related income when they file their 2022 federal income tax return, as they did for fiscal year 2021.” The question...
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11
Individuals and businesses impacted by recent storms in California will have an extended deadline to file federal tax returns and make payments, according to a recent IRS announcement. The Federal Emergency Management Agency (FEMA) has designated a wide range of counties throughout the state as disaster areas, and the relief is applicable to any area...
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11
All taxes can be broken down into three categories: Taxes on your purchases Taxes on your income Taxes on your assets Taxes on your purchases:When purchasing the majority of goods and services, consumers must pay sales taxes. These taxes bring in money for the state and the local government, which then pays for things like...
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11
Many taxpayers make quarterly estimated tax payments during the year to stay current on their taxes, but many who should overlook this step. The Internal Revenue Service today urged those who paid too little tax in 2022 to make a fourth quarter payment on or before January 17 to avoid an unexpected potential tax bill or penalty...
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11
Payroll administration is typically one of the most challenging, tiresome, and time-consuming business tasks for small business owners—but it’s also one of the most important ones! What does the term “payroll” mean? Although there are several interpretations for the word “payroll,” it usually refers to the complete process of paying employees. There are many moving...
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