As 2021 winds down, here are some ideas to help manage your small business and prepare for filing your upcoming tax return.   Identify vendors who require a 1099-MISC and 1099-NEC and obtain their tax…

The Employee Retention Credit (ERC) was introduced last year in the CARES Act as a lucrative incentive for business owners. It has since been extended and modified by both the Consolidated Appropriations Act and American…

On September 8, 2021, the IRS announced expanded relief for residents in New Jersey and New York who have been impacted by Hurricane Ida earlier this month. Most federal tax filing and payment deadlines due…

What entity type should my new business be? In 2021, millions of people left their jobs to start businesses. If you are considering it, the first step is choosing a structure. It is a decision…

Tracking your miles whenever you drive somewhere for your business can get pretty tedious, but remember that properly tracking your vehicle expenses and miles driven can lead to a significant reduction in your taxes. Here…

With the end of the 2020 filing season upon us, now is the time to become aware of major changes for 2021. But be prepared, politicians are making noise in preparation for another fun-filled year…

While many businesses struggled through the pandemic, none more so than the restaurant industry. In an effort to aid these businesses, the Consolidated Appropriations Act introduced a 100% business meal deduction, formerly 50%. However, many…

[Updated March 22, 2021] Spring 2021 Tax Deadlines March 15, 2021 – Deadline to file partnership and S-Corporation tax returns. April 15, 2021 – Deadline to file trust and calendar-year C-Corporation returns. – Annual gift…