Tax Deductions VS. Tax Credit
The general population that is of tax paying age knows what the term tax deduction means: when you pay your taxes, you may get money back called a deduction. While both deductions and credits can save you a significant amount of money on your taxes, they work in very different ways. First, let’s take a […]
Tips for Hiring the Right Tax Accountant
You don’t have to own a multi-billion dollar company or be a CEO of a fast growing small business to need a tax accountant. Maybe you’re a new business owner and you’re not sure what to do and you don’t want to make any mistakes, or maybe you just don’t have enough time to sit […]
3 Steps to Simplify Your Payroll Process
Payroll is an essential, yet complicated, part of running any business. While it may be time-consuming and stressful, it is crucial to keep your payroll process organized and correct for the sake of both your employees and your business. Implement these 3 tips to simplify your payroll and stay on track: 1. Make Payroll Taxes […]
Benefits of Outsourcing Your CFO Services
The functions of a Chief Financial Officer (CFO) are essential to the financial success of a business. However, a CFO’s duties do not necessarily have to be completed by a single in-house employee — In fact, outsourcing a comprehensive team may be more effective. Read on to learn more about how your company can benefit […]
Child Tax Credit
The Child Tax Credit has undergone changes in the past year as a result of the American Rescue Plan Act of 2021. This credit aims to assist American families by granting a credit for each dependent child. Read on to learn more about the current Child Tax Credit and credit amounts. 2021 Credit Amounts Unlike […]
Employee Retention Tax Credit (ERTC)
What is the ERTC? The Employee Retention Credit was introduced in the 2020 Coronavirus Aid, Relief, and Economic Security (CARES) Act. It is a refundable tax credit for wages paid by an eligible employer to retained employees from March 13, 2020 to December 31, 2020. This credit amounts to 50% of qualified wages given to […]
Blockchain and Accounting
What is Blockchain? Blockchain differs from standard databases and spreadsheets in that it holds and presents information in blocks which are chained together. When an information block is filled, another block is created for new information. The blocks are linked together and the information stored is permanent, meaning that vital data such as dates cannot […]
