by Lori Bowden | Jun 4, 2025 | Accounting, Business, Newsletter
The accounting method your business uses to report income for tax purposes, either cash or accrual, can significantly impact your tax bill. While the cash method can offer tax-saving opportunities, the accrual method may in some cases be more appropriate or even...
by Lori Bowden | Jun 3, 2025 | Business, Newsletter
Ever since you became a business owner, you’ve focused on growing revenue, managing expenses and leveraging tax advantages. But don’t overlook a critical element of your long-term financial well-being, that is, a business exit strategy. Ideally, your exit strategy...
by Lori Bowden | Jun 2, 2025 | Business, Individuals, Taxes, Uncategorized
This platform makes it easier and safer for you to work with us during tax season (and beyond). Here’s what you need to know: What You Can Expect Easy Access You should have received an email invitation with a link to the portal from noreply@wolterskluwer.com. No new...
by Lori Bowden | May 4, 2025 | Business, Newsletter, Taxes
The consequences of misclassifying an employee as an independent contractor can be costly. You could be liable for back taxes (including the employee’s shares of unpaid payroll and income taxes), penalties and interest. There may be serious nontax consequences as...
by Lori Bowden | May 2, 2025 | Business, Individuals, Newsletter, Taxes
If you own a company and travel for business, you may wonder whether you can deduct all the costs of having your spouse accompany you on trips. It’s possible, but the rules are restrictive. When Your Spouse Is Also Your Employee If your spouse is your employee, you...
by Lori Bowden | Apr 2, 2025 | Business, Individuals, Newsletter, Taxes
If you’ve filed your 2024 tax return, you may be eager to do some spring cleaning, starting with tax-related paper and digital clutter. The documentation needed to support a tax return may include receipts, bank and investment account statements, K-1s, W-2s, and...
