The Importance of CPAs for Contractors in Tennessee, Even for Small Projects
In Tennessee, contractors bidding on projects under $25,000 don't need a CPA-reviewed financial statement. However, working with a CPA offers benefits like accurate financial management, tax planning, strategic advice, and risk management, helping contractors achieve stability, growth, and long-term success beyond mere regulatory compliance.
The October 15th Tax Deadline: Why It Matters and What You Need to Know
The October 15th deadline applies to those who filed an extension, live abroad, or are in eligible military service. It extends your filing time, NOT your payment deadline. Penalties for missing it are steep, so e-file by the deadline, pay what you can if unable to file, or contact the IRS for help.
Conquering Tax Season: A Tennessee Realtor's Guide
Tennessee realtors are self-employed and responsible for their own taxes. They can deduct business expenses like mileage, marketing, and home office costs to reduce their tax burden. Keeping good records and consulting a tax professional can make tax filing easier.
Should You Hire a Tax Professional?
Hiring a tax professional offers expertise, stress reduction, and audit protection, but costs money and requires finding the right person. Consider professional help if your taxes are complex, you had life changes, faced past issues, or simply need peace of mind.
All content on this blog is intended for general informational purposes only and does not constitute legal or professional advice. Please contact a member of our team for accounting advice specific to your situation or needs.