Common Payroll Mistakes and How Your CPA Can Help
Payroll errors like miscalculations and incorrect tax withholdings create financial losses and compliance issues. Your CPA can help! They'll set up accurate payroll, provide ongoing oversight and reporting, plus resolve any errors that occur, safeguarding your business from payroll nightmares.
How a Potential TikTok Ban Could Impact Businesses and Creators
A potential TikTok ban in the US could hurt businesses and creators who rely on the app to generate income. 69% of small businesses on TikTok say it has led to increased sales.
How Tax Law Changes Could Affect Your Business Tax Return in 2024
Tax law changes in 2024 could affect business deductions, tax rates, and retirement plan rules. Stay informed about expiring provisions, R&D credits, and even state tax updates. Consult a tax advisor to understand how these changes specifically impact your business and to plan your tax strategy accordingly.
How to Choose the Right Bookkeeping Service: 5 Key Considerations
Accurate financial records are essential for a successful business. Choosing the right partner to assist with bookkeeping is equally important. Here are five things to consider when chosing a bookkeeping service for your business.
Financial Statements Under the Microscope: When You Need a Review and How to Get It Done Smoothly
A review adds credibility and helps identify issues early. Loan applications, investors, or regulations might require one. Partner with a CPA firm for a review. They'll gather info, analyze it, and provide a report. Choose the right firm, prepare your records, and communicate openly for a smooth process.
Get Organized! How to Prepare Your Documents Before Filing a Personal Tax Return
Filing your taxes starts with pulling together all of your documents. Here are some tips to make sure you have everything you need before you sit down with your CPA to discuss your tax return.
Understanding the Employee Retention Tax Credit (ERTC)
The ERTC, a tax credit to help businesses retain employees during COVID, is no longer available for new claims but can still be claimed retroactively for wages paid in 2020 and 2021. The deadline to file amended tax returns to claim the credit is April 15, 2024 for 2020 wages and April 15, 2025 for 2021 wages.
Tax Deductions: What You Can Claim and Mistakes to Dodge
Tax deductions lower your taxable income. Common ones include homeownership, charity, medical costs, and retirement contributions. Avoid mistakes like missing receipts, overestimating values, or miscategorizing expenses. Seek professional help for complex situations.
Taming the QuickBooks Chaos
Is your QuickBooks a mess? Don't go it alone! Our Chattanooga-based QuickBooks bookkeepers clean up your records, streamline processes, and give you financial insights for growth. Free yourself to focus on running your business.
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.