Missed the Tax Deadline? Don't Panic: A Guide to Filing Late Taxes
Missing the tax deadline results in penalties and interest, but you can still file late. File electronically ASAP to minimize penalties. Gather documents, file electronically, and make a payment towards what's owed. Honesty is key, and communicate with the IRS if you can't pay in full.
Don't Get Taxed by Bad Advice: Debunking TikTok Tax Myths
Social media offers financial tips, but beware of tax myths on TikTok! In this article, learn about common tax deduction myths like gambling losses or pet write-offs. We explain taxable income and deductions, and why fraudulently claiming business expenses is risky.
Tennessee Contractors: Reviewed Financial Statements
Tennessee contractors require reviewed financial statements for licenses exceeding $1.5 million. These statements, prepared by a CPA, offer a level of financial verification. Callison CPA can help analyze your records, create the statements, and provide a limited assurance report. With proper preparation and a qualified CPA, you can secure the necessary documents to obtain your Tennessee contractor's license.
The April 15th Tax Deadline: What You Need to Know (And What If You Miss It)
The April 15th tax deadline is important, but there are options if you miss it. File as soon as possible, pay what you can, and consider a payment plan if needed. Gather your documents, choose a filing method, and remember, even if you're late, taking action is key.
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.
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.