Do you regularly use a vehicle for business purposes? If so, here’s an important heads-up as we drive (pun intended) into the new year. The IRS has announced the business standard mileage rates for the 2020 tax season. This is a tax deduction that comes in handy for a lot of businesses, so it might […]
[UPDATED FOR 2020] If you need to a file a 1099-MISC form for your business for the first time but don’t know where to begin, don’t worry – we’re here to walk you through the ins and outs of it. First things first: Get organized Nobody actually loves tax season, not even accounting nerds like […]
Well, folks, it’s tax time once again, and this year’s a doozy, thanks to all of the changes that came with the Tax Cuts and Jobs Act of 2017. One of the biggest changes causing some confusion has to do with the meals and entertainment deductions that a business can claim. As of January 1, […]
If you find yourself scrambling to prepare for tax season each year, this one’s for you. Lack of preparedness at tax time can cost you and your business heaps of money and time (not to mention peace of mind). The good news is preparing for tax season in advance is easier than you might think. […]
According to our allergies, spring season is in full swing. And you know what that means: It’s time to do a little spring cleaning. But spring cleaning isn’t just about tidying up the closets and sweeping up the dust bunnies from their winter hibernation. It’s also a great time to clean up your business finances and review how the […]
Well, tax season is officially over. Take a deep breath. You made it. If you own a business and tax season has left you feeling hungover but without the party, we’re here to tell you that filing your taxes really doesn’t have to suck so much. Here are three things you can start doing now to make filing your taxes […]
The corporate tax-filing deadline is right around the corner (March 15). If you’ve been maintaining consistently accurate and up-to-date financial records throughout the year, then you’re probably in pretty good shape right about now. Good on you! For the rest of you who may have fallen behind (you know who you are), don’t let panic […]
If you extended your corporate taxes this year, that means you should have filed your final tax return to Uncle Sam by September 15. You’ll also have to pay any remaining tax due, which could be subject to penalty. Ouch. As if writing a fat check to the IRS isn’t painful enough, you’re in for […]