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Blog Category: Business

The tax advantages of hiring your child this summer
From Lemonade Stands to Paychecks: How to Hire Your Child as an Employee to Save on Taxes
As the summer season approaches, you might be contemplating employing young individuals to work at your small business. Simultaneously, your own children may be interested in earning some spending money.
The Power of Outsourced Accounting: Keeping Your Business Resilient During Economic Downturns
The Power of Outsourced Accounting: Keeping Your Business Resilient During Economic Downturns
In times of economic uncertainty, businesses need to be able to adapt quickly to survive. One fundamental way to accomplish this is through streamlining operations and cutting costs where possible.
Importance of Month-End Close Processes for your Business
Both QuickBooks and QuickBooks Online are excellent tools to help ensure your business is keeping up-to-date and accurate financial records. As a business owner, keeping these accurate financial records is
Preparing for the Upcoming March Deadline with an Outsourced Team for S-Corporations
As we approach the end of February, we have already passed a few key deadlines that affect S-Corporations.  From informational 1099 forms to W2 processing to other payroll filings for
5 Tips When Adopting The New Lease Standard
The Financial Accounting Standards Board (FASB) introduced Accounting Standards Codification (ASC) Topic 842, Leases, to provide more transparency and accountability in financial reporting. The standard requires lessees to recognize lease
Employee Retention Credits – Not Everyone Qualifies
The Employee Retention Credit (ERC) is a refundable payroll tax credit for employers that kept workers employed during COVID-19 pandemic while suffering significant gross receipt declines or being suspended under
Increased Standard Mileage Rate for 2023
Effective January 1, 2023, the IRS has issued its annual notice that updates the allowable 2023 standard mileage rates for business use of vehicles.  For 2023, the standard mileage rate
How to qualify for the QBI deduction and year-end strategies to maximize this deduction
As a business owner, you may have heard others mention QBI, Section 199A, or the pass-through deduction. These are all common ways to refer to the qualified business income (QBI)
Year End Strategies for Investors to Cut Taxes
During 2022, the stock market has been down, but there have been some bright spots along the way. As the year ends, you should consider making some moves to make
What the FTX Collapse Means for Future Tax Deductions
With the recent news of the crypto giant, FTX, filing for Chapter 11 bankruptcy, you may be left wondering what this means and whether you will be able to deduct