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PIN for Taxpayer Identity Protection

PIN Opt-In Program from the IRS will be expanded to all taxpayers. Until now, an Identity Protection PIN, or IP PIN was for fraud victims and was used to prevent future fraudulently filed tax returns. Now, eligible taxpayers may obtain an IP PIN. IP PINs are valid for one calendar year, and a new IP PIN must be obtained each [...]

2021-01-05T15:10:16-05:00January 5th, 2021|In the News|

President Trump Signs the Relief Package with a $900 Billion Price Tag

The relief package legislation highlights include $325 billion in business relief, $275 billion for another round of Paycheck Protection Program funding, and an extension of federal unemployment benefits of up to $300 per week. President Trump signed the Relief Bill that marks spending for business relief and another round of Paycheck Protection Program (PPP) funding, an extension of federal unemployment [...]

2020-12-27T22:01:09-05:00December 27th, 2020|In the News|

3 Year-End Planning Steps for a Successful Audit

Year-end audit planning requires communication, compiling information, and comparing to last year’s report. Your company’s external audit can be a busy and stressful time. While worrying about your normal day-to-day responsibilities, you must take on the task of providing your auditors with information that they need to complete the audit. Sometimes, the tasks can seem overwhelming. It is easy to [...]

2020-12-19T10:44:47-05:00December 19th, 2020|In the News|

Your Month-End Closing Process is so Important

Accurate month-end closings will lead to better planning, fewer adjustments, and less time rectifying costly mistakes. Your monthly financial statements provide key performance indicators that can help your company in decision making. Most companies have a routine month-end close process that can help stakeholders see the “big picture” through various financial reports. This key data is also important to maintain [...]

2020-11-17T16:01:17-05:00November 17th, 2020|In the News|

IRS Relief Options for Taxpayers Impacted by COVID

IRS introduces New Relief Options to Assist Taxpayers Impacted by COVID-19 Relief has been introduced by The Internal Revenue Service through various payment alternatives to assist taxpayers with no income or ability to pay their federal tax liabilities. The IRS has introduced a Currently-Not-Collectible program. The program is directed towards taxpayers without income or the ability to pay to request [...]

2020-11-06T18:44:43-05:00November 6th, 2020|In the News|

Trump and Biden Tax Plan Comparison

Election Day is November 3rd!  Do you know about the Biden and Trump tax plans? Pop culture icons are even weighing in on Biden's and Trump's tax plans.  The rapper 50 Cent has said he supports the Trump tax plan because he “doesn’t want to be 20 Cent.” Whereas, Dwayne “The Rock” Johnson is supporting Biden’s platform.  In any event, [...]

2020-10-30T13:57:04-04:00October 29th, 2020|In the News|

Business Financing 101

Business financing is one of the most challenging obstacles entrepreneurs will face at one time or another. During this period of economic uncertainty, this is an even greater need for many businesses. The best sources and structure of financing are based on a particular company's needs and can change based on a company's current operating environment. Assessing the length of [...]

2020-09-09T17:33:48-04:00September 9th, 2020|In the News|

Payroll Tax Deferral Guidance

Payroll Tax Deferral Memorandum - The Internal Revenue Service has issued Notice 2020-65 to provide guidance on the employment tax deferral regarding President Donald Trump’s August 8, 2020 Executive Order. Deferral Payroll Tax Period The executive memorandum is effective immediately and only applies for wages “paid” between 9/1/2020 and 12/31/2020. The deferral is only on the 6.2% social security income [...]

2020-09-02T15:51:01-04:00September 2nd, 2020|In the News|

Forensic Accounting

Forensic Accountants can uncover deceptive ledger entries. According to the FBI, business fraud consists of dishonest and illegal activities perpetrated by individuals or companies to provide an advantageous financial outcome to those persons or establishments. These schemes often appear under the guise of legitimate business practices. Why a Forensic Accountant? It is the job of a forensic accountant to discover [...]

2020-08-27T11:51:19-04:00August 27th, 2020|In the News|
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