The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act

The Consolidated Appropriations Act, 2021 (CAA 2021) became law on December 27, 2020, and among many other things, provided for a second round of potentially forgivable Paycheck Protection Program loans to small businesses that were financially impacted by the effects of the pandemic. The Act not only provides funds and guidelines for a round two […]

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A New Round of Stimulus Checks

News, Tax Tips

On December 27, 2020, President Trump signed into law the Consolidated Appropriations Act, 2021 which included measures for both COVID-19 relief and sweeping funding provisions for the government through September 2021. While there are many sections of this law to explore, this article will focus on the stimulus checks. Qualifying individuals will receive these economic

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How Does the Presidential Election Affect Your Taxes?

News, Tax Tips

Many clients are asking us about whether their taxes will go up now that there will be a change in Presidents in January. The short answer is no. A US President does NOT have the power to raise or lower taxes. Period. That power is reserved for the legislative branch of the government. Only Congress

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A 39-Item Tax and Accounting Year-End Checklist for Your Small Business

Accounting Tips, Tax Tips

Keeping your accounting records up to date all year long is essential for any business so you can see exactly where your business stands and be able to make thoughtful decisions based on clean numbers. At year-end, there are a few extra accounting tasks to finish so that your books are ready for the tax

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Accounting Tasks at Year-End

Accounting Tips, Bookkeeping Tips, Business Tips, Tax Tips

You might wonder why there are so many extra tasks at year-end. While the government requires much of the work, there is clean-up work and adjustments that need to be done to make the books accurate. It’s not always cost-effective to perform all of these updates monthly, so you’re actually saving money by doing some

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Five Tips to Make Tax Time Painless

Tax Tips

Tax time is probably not your favorite time of year, especially if you have to pay the government your hard-earned dollars. Here are five tips on how we can make it just a bit less painful. 1. Have patience. Practicing patience will go a long way when you’re dealing with taxes. Keep in mind that

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