Resources Blog
Tax Planning
As we begin another year of uncertainty, it is more important than ever to devise a budget, understand cash flow and build a tax plan. Everyone is familiar with tax preparation, the act of preparing your tax returns and filing them with local, state, and federal...
Converting a Traditional IRA to a Roth IRA, When Does It Make Sense?
IRAs are Individual Retirement Arrangements. There are several types of IRAs with differing contribution limits and earnings thresholds. Funds for an IRA must come from employment earnings. More information about all IRAs and their regulations can be found on the...
Fractional CFO
Fractional CFO, Part-Time CFO, Virtual CFO: What They Are and When You Need One There are many terms bandied about when it comes to the position and outsourcing of a Chief Financial Officer (CFO). It is easiest to start understanding these terms by getting a firm...
Start Budgeting for 2022 Now
Start Budgeting for 2022 Now If the last two years have taught us anything, it is that nothing is certain. However, that doesn’t mean we should not plan. In fact, planning and budgeting is more crucial than ever. We can take lessons learned from upheaval and...
Common Mistakes
Common Mistakes When Providing Information to Your Tax Preparer Missing information, incorrect information or partial information can lead to delayed tax filing and delayed refunds. Below is a list of the most common mistakes we see when individuals and...
Cryptocurrency and Your Taxes
Cryptocurrency and Your Taxes 2021 has been the year of cryptocurrency, in terms of news as well as new holders. More businesses are accepting various coins for transactions, and this is expected to increase through the rest of 2021 and beyond as sites such as...
Child Tax Credits and Your 2021 Taxes
Child Tax Credits Advances and Your 2021 Taxes The IRS began distributing advances on taxpayers’ Child Tax Credits on July 15, 2021, as part of the American Rescue Plan passed in March. Taxpayers have the option of opting out of the advance payments. If you have...
PPP Loans
PPP—Now What? Now is a good time to clear up any lingering questions you may have regarding PPP loans. Forgiveness periods are ending and the window for new loans has closed. Below we have broken down some of the main points that you need to know about filing for...
Guide to Schedule E
Guide to Schedule E The following is a guide to the IRS Schedule E. This is used to report supplemental or passive income* or loss from: Real Estate Rentals Royalties Partnerships and S Corporations Estates and Trusts REMIC Profit and Loss There are limits on...
Guide to Deductible Business Expenses, Schedule C
The following is a guide to allowable business expenses that can be deducted from your income taxes using Schedule C. If you have any questions about whether you are taking full advantage of these deductions, or need more information, please contact us. ...
