Many small business owners in “non-essential” industries are finding themselves at a loss right now, thanks to the COVID-19 pandemic. As more and more states issue “shelter in place” orders, which closeschools andnon-essential businesses,and require residents to stayhome, the economy is greatly affected. Experts estimate we could be seeing shelter in place orders extended into the summer. For many small businesses, a months-long lack of income can prove fatal.
Being a small business owner sometimes feels like a lonely job. Larger institutions benefit from retaining employees who you can lean on for their experience and advice, especially during stressful times like tax season. However, help is available for smaller companies too. A seasoned small business tax preparer can go a long way towards making you feel confident in your company’s finances while also saving you time and money.
Don’t wait until April
Make no mistake: tax preparation should be a yea...
For many industries, 'tis the season to discuss overtime in the run up to Christmas. It is important for any company with employees to understand its responsibilities for paying overtime. This includes knowing who is and who is not eligible for overtime pay, and what eligible employees are entitled to receive.
Here’s a brief overview of what you need to know.
There are two categories of workers for under the Fair Labor Standards Act (FLSA): exempt and nonexempt. Exempt employees are not...
Certified Public Accountants and tax attorneys are both professionals who can help you resolve your tax issues in compliance with federal and/or state laws. However, there is a big difference between when to hire one versus the other.
Below we explore the qualifications and responsibilities of CPAs and tax attorneys, and in which situations you may need their expertise.
How a Certified Public Accountant can help you
A Certified Public Accountant, or CPA, is a financial advisor who has earned his or...
Congress passed the contentious Tax Cuts and Jobs Act in December 2017. The most recent taxes this spring are the first since the law went into effect, and represent the biggest tax reform overhaul in 30 years. Businesses have seen major changes in how they completed their tax returns this past spring.
While we’re well into 2019 and a year-and-a-half removed from the bill’s passing, we’re still learning what effects the bill is having on businesses.
Corporate tax rate and corporate alternative min...