As a business owner, it is likely you were asked to produce financial statements in some fashion in order to meet the requirements of lenders or stakeholders. But how can you best extract these useful insights? One way is to view your financial statements through a wide variety of “lenses” provided by key performance indicators […]

It is likely you are already aware that once you reach a certain age, you are required to take the required minimum distributions (RMDs) from your traditional IRA or tax deferred retirement plan, or you be subject to a hefty penalty. In 2020, The CARES Act allowed for people to forego taking these distributions, but […]

As we enter 2021, you may be thinking about the tax consequences of the Paycheck Protection Program (PPP) loan that you received in 2020. You may also be aware that PPP has reopened. We can help you explore the tax implications of PPP and assist in understanding the new round of loans. Background on the […]

The new year brings exciting new possibilities, and marketing is far from the least of these. To take advantage of the marketing opportunities, you must understand market trends and changing business climate. For most industries at the start of 2021, this is largely driven by the COVID-19 pandemic and economic challenges resulting from this. Continue […]

The start of a new year is an exciting time for many, and it also signals the start of a new tax season. Filing season for individuals opens on February 12th for 2020. While the deadline for individuals to file a return, or file for an extension, is April 15th, it can be beneficial to […]

This year brings new IRS forms for businesses. Businesses that pay certain types of nonemployee compensation must have the form 1099-NEC to most recipients by February 1, 2021. Once forms are sent to the recipients, the business taxpayer must then file the forms with the IRS by March 1 (March 31 if filing electronically). The […]

In one recent cybercrime scheme, a mortgage company employee accessed his employer’s records without authorization, then used stolen customer lists to start his own mortgage business. One of your employees’ cybercrime schemes could end in financial losses or competitive disadvantages due to corporate espionage. This particular dishonest worker was caught. But your company may not […]

You have probably heard of Bitcoin, a relatively well-known form of cryptocurrency, but you may not be as familiar with Blockchain, the platform on which Bitcoin is exchanged. This technology has been around for over a decade, so why aren’t more businesses using it by now? One might be tempted to think that, having spent […]

If you, your child, or even grandchild is attending (or planning to attend) college, you may be eligible for tax breaks to help ease the cost. The Consolidated Appropriations Act, which was enacted recently, made some changes to the tax breaks. Here’s a rundown of what has changed. Attending college is a huge investment of […]

The Employee Retention Tax Credit (ERTC) is a refundable credit for employers that keep workers on their payrolls during the COVID-19 pandemic. The ERTC was formed in March of 2020 but has recently been extended and enhanced in the latest law. Background on the credit The CARES Act, enacted in March of 2020, created the […]