Blog Posts
6 Signs Your Business Needs a New Bookkeeping Service
Did you know that the average business spends 20 hours on taxes? That includes ten hours of record keeping! You've hired a bookkeeper or accountant to save you time, not a headache. If you're scratching your head and the numbers don't add up, it might be...
Investing in Treasury Inflation-Protected Securities (TIPS)
The Fed is finally taking aggressive action to fight inflation, but will it work? Where’s the stock market headed? Who knows? Real estate might be a good inflation hedge, but it’s a non-liquid asset and no sure thing. Clearly, this is not a...
The Complete Guide to Choosing a Virtual CFO for Businesses
According to 2022 research, 35% of small business owners said their business was not profitable. If you want your business to be profitable but don't have the necessary financial experience, you may want to hire a virtual CFO. They can help you manage your...
Earn 9.62 Percent Tax-Deferred with Series I Bonds
Through October 2022, you can buy Series I bonds that pay 9.62 percent interest. And you receive that rate for six months from the time of purchase. What happens after that? On November 1, 2022, the U.S. Treasury Department sets a new six-month...
Common Tax Planning Mistakes and How to Avoid Them
In the United States, small businesses employ 59 million people. Taxes contribute to the government's budget, whether you're a small or large corporation. Tax season can be difficult and cost you more than necessary if you're not careful. Read this guide...
Claim Your 2020 and 2021 ERC Now (Yes, in 2022)
Claim Your 2020 and 2021 ERC Now (Yes, in 2022) During much of 2020 and 2021, you may have qualified for the Employee Retention Credit (ERC). Lawmakers created this tax credit in response to the COVID-19 pandemic. With the ERC, you found (or...
Top 4 Benefits of Hiring a Tax Resolution Firm
Did you know that in 2020, the outstanding tax debt in the US was approximately $527 billion? If you have tax debt, it's essential to resolve it as soon as possible, or you could face high penalties and even be banned from international travel. If you're...
How Does the IRS Notify You of an Audit? How to Handle an IRS Audit
What if the worst day of your life just kept going? That's what it feels like when you get an IRS audit. Most people don't know how they will get notified of an audit or what to do next. And that can make a scary time that much worse. How does the IRS...
Paying Your Child: W-2 or 1099?
Here’s a question I received from one of my clients: “I will hire my 15-year-old daughter to work in my single-member LLC business, and I expect to pay her about $12,000 this year. Do I pay her through payroll checks and file a W-2?” My Answer...
How Much Does Tax Preparation Cost?
What if you were punished for your financial success? When it comes to taxes, that's exactly how it feels. In general, the more money you make, the likelier you are to get audited by the IRS. You're even more likely to get audited if you don't have your...