As certified public accountants, we know all too well the pain and pressure of tax season. Every year, businesses scramble to gather their financial information, search for deductions, and ensure everything is in order for the IRS. But did you know that starting your...
While year’s end is still the ideal time for tax planning for small business owners, there is still time to minimize your 2022 taxes. If you have still not filed your 2022 tax return, you can still maximize your Section 199A tax deductions for Qualified Business...
You may have heard of a first-time penalty abatement (FTA) waiver. When taxes haven’t been filed or paid, the IRS allows an “abatement” that removes penalties applied to the taxpayer. The IRS would prefer to help people pay their tax debt, and the FTA is one tool you...
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