Category Archives: Tax Management

A Short Guide to the 2021 Tax Season

Davis Bell February 26, 2021 Largely due to COVID-19 and the related bills passed by Congress, 2020 brought with it notable tax changes. In this article, we will go over the main changes for the 2021 tax season—from tax bracket inflation adjustments to changes in tax law—that impact a large percentage of Americans. As accounting … Continue reading A Short Guide to the 2021 Tax Season →

Types of Business Purchases – Taxes and Legal Issues

Tax Management

Steven Imke November 10, 2020 Regardless if you are the seller or buyer of a small business, it is not how much money the seller gets for the business but how much they get to keep at the end that will shape the negotiations and the final sales price. Taxes can take a huge bite … Continue reading Types of Business Purchases – Taxes and Legal Issues →

EINs: How Can Startups Use This Tax ID?

Tax Management

Deborah Sweeney September 25, 2020 What do you know about employer identification numbers, or EINs? Chances are that unless you’re a small business owner you may not be entirely familiar with how these types of tax IDs work. What is an EIN and what makes having one so valuable to entrepreneurs starting small businesses? Let’s … Continue reading EINs: How Can Startups Use This Tax ID? →

Tax Reduction Strategies to Help Your Portfolio During a Crisis

Tax Management

Sara Gelsheimer — June 9, 2020 stevepb / Pixabay When events such as COVID-19 occur, investors often feel at the mercy of wildly fluctuating portfolios. Investing in the market involves risk — your portfolio will go down. And according to the math of percentages, the more significant your losses, the more returns you’ll need to … Continue reading Tax Reduction Strategies to Help Your Portfolio During a Crisis →

You Need to Know Your Small Business Tax Forms

Tax Management

Steven Imke — April 6, 2020 As a small business mentor, I often discuss how money flows through a business, and the effects it has on income taxes. Inevitably, the discussion descends into the use of various federal tax forms and schedules. Of course, not all tax forms are required by every business, and many … Continue reading You Need to Know Your Small Business Tax Forms →

5 Tips to Help You Stay on Top of Your Taxes

Tax Management

Choncé Maddox — March 30, 2020 Tax season can be pretty daunting for small business owners and freelancers. If you pay quarterly taxes, you may realize that you need to be more on top of your tax documents and track your business finances efficiently. Now that the federal deadline for filing and paying 2019 taxes … Continue reading 5 Tips to Help You Stay on Top of Your Taxes →

Taxes in 2020 — Small Business Checklist

Tax Management

Robert Gloer — February 17, 2020 As we ease into the next tax year, it’s the right time to assess what’s new for businesses: Minimum wages: They went up in 13 states. You’ll need to refigure the withholding and deductions on affected employees. W-4 forms: They’re new for 2020, reflecting the removal of allowances for … Continue reading Taxes in 2020 — Small Business Checklist →

7 Things to Know for Tax Year 2019

Tax Management

Jeffrey McNeal — February 10, 2020 While we are already in the second year following the Tax Cuts and Jobs Act, there are a couple and changes to be aware of when filing taxes this year. A comprehensive list of these updates can be found on the IRS website, however, below is a list of … Continue reading 7 Things to Know for Tax Year 2019 →

Breaking Down the New Form W-4 & How to Ensure Compliance in 2020

Tax Management

Matt Jarzynski — January 16, 2020 In the first major redesign over 30 years, the IRS is kicking off the decade by rolling out a new Form W-4. The updated document reflects changes that were made to the federal tax code following the Tax Cuts and Jobs Act last year. To help employers and employees … Continue reading Breaking Down the New Form W-4 & How to Ensure Compliance in 2020 →

What Tax Reform Changed About Accelerated Depreciation Rules

Tax Management

Riley Adams — September 19, 2019 — September 19, 2019 stevepb / Pixabay Tax reform is little more than a memory and yet the effects will last for years to come. Now, taxpayers must understand the changes and plan their financial lives, whether personal or professional, accordingly. Businesses will follow suit as well. Many benefited … Continue reading What Tax Reform Changed About Accelerated Depreciation Rules →