News, Tax & Accounting Resources
Building a Fortress Balance Sheet
The best way to weather a storm is often by being prepared before the storm hits. In the case of small businesses, this means building a fortress balance sheet. What is a fortress balance sheet? This long-standing idea means taking steps to make your balance sheet...
Helping People: IRS Taxpayer Relief Initiatives
The IRS is highlighting reasonable cause assistance available through IRS procedures for failure to file, failure to pay and failure to deposit penalties. First time abatement relief is also available for the first time a taxpayer is subject to one or more of these...
Consolidated Appropriations Act, 2021: Health and Dependent Care Flexible Spending
COVID-19 has impacted Flexible Spending Accounts. Be sure you take advantage of these changes if they apply to you. The Consolidated Appropriations Act, 2021 provides that employers may adopt certain temporary rules to assist employees enrolled in health or dependent...
Answers to Common Tax Questions
With the April 15 tax filing deadline right around the corner, here are answers to some common tax questions. When will I get my refund?The pandemic and additional stimulus payments will, in all probability, delay refund payments. But as of now here are the old wait...
Common IRS Surprises
No one likes surprises from the IRS, but they do occasionally happen. Here are some examples of unpleasant tax situations you could find yourself in and what to do about them. An expected refund turns into a tax payment.Nothing may be more deflating than expecting to...