I’ve been asked a lot about loan options and relief for business through the SBA program. I am no expert on your banking options. After reading some of these options you need to reach out to your banker for what options will work for you. I’m only writing this to give you an idea of what is available for you to follow up with your trusted bank. Paycheck Protection Program This loan program provides loan forgiveness for retaining employees. SBA will forgive loans if all … [Read more...]
Are taxes stressing you out?
Are taxes stressing you out? Trust me the accountants feel it, too. While yes we know the tax laws and the forms or know how to find the answers to tax questions, there is a different stress that is there for the accountants. This is the final two weeks and this is the busiest time of tax season for many of us. We have had several returns come in during the past week with taxpayers realizing how close the deadline is and that they still need to get stuff to the accountant. In addition there are … [Read more...]
Tax Refund for 2011 Returns
Tax Refund for 2011 returns must be claimed by April 15th. If you have not or know somebody who has not filed a tax return for 2011, it would be a good time to do so. If you have W-2 income more times than not, you will receive a tax refund because of the withholding on those wages; yet there are many people each year who do not file their returns thinking there is no reason to or thinking they will owe. The IRS says that many of the non-filers are part-time workers or students. The IRS … [Read more...]
Tax and Accounting Services
With this post I wanted to take a step back and give you an idea of why I started my own practice, what my goals are, and what tax and accounting services I am offering. When I started college it was always my intent to own my own accounting practice, but at 18 I didn't realize — until I started working in the accounting field — just how much knowledge and experience was needed in order to get to this point. I have worked in both public and private accounting since earning my degree. I passed … [Read more...]
W-2 Forms Need to be Filed in January
As a business owner there are tax forms you need to be concerned with getting prepared and to recipients by the end of January. The forms that affect most business owners are: 1. W-2 forms for your employees. 2. 1099-Misc - these forms go to people or companies that you paid for services or rent in the amount of $600 or more. If the businesses are incorporated you do not need to send them. Keep in mind that an LLC does not mean the company is incorporated. You should ask each person or … [Read more...]
