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IRS Tax Audits: What You Can Expect

IRS Tax Audits: What You Can Expect

The word “audit” will make any business owner tense, especially when discussing or going through a tax audit from the IRS. However, there are strategies that taxpayers can use to help navigate an audit.   In this blog, we’ll break down the auditing process so that you...

End of Year Tax Tips for Small Businesses

End of Year Tax Tips for Small Businesses

As the year comes to an end, we can look forward to schedules filled with holiday parties, time off to spend with loved ones, and finding ways to circle back on projects in the new year. One project that will be especially important for small business owners is...

Six Key Tax Changes You Should Know

Six Key Tax Changes You Should Know

Now that the filing season for 2020 tax returns is over, it’s time to start thinking about next year’s tax return, which may look different from prior years because of the pandemic relief bills, tax law changes, updates, new rules, and annual inflation adjustments....

Client Feature: Tom Sumwalt of Tom’s Auto Center Inc.

In a two-bay garage in 1986, Tom Schoenmann and his wife, Lisa, opened Tom’s Auto Center with the dream of providing quality maintenance and repairs for their neighbor’s vehicles. Soon after, they expanded to the back of a body shop on Terminal Drive before building...

Transitioning from Employee to Self-Employed

Transitioning from Employee to Self-Employed

A quick tax guide for sole proprietors just starting out Starting a small business is exciting, however, if you’re used to working as a full-time employee, the transition to self-employment can be overwhelming when it comes to keeping track of your taxes....

4 Ways Your Taxes Will Differ When You File in 2021

As we all know, the ancient Greek quote “change is the only constant” most certainly applies to your taxes, and this year has seen more changes to tax guidelines and requirements than in many other years. So, in today’s blog, we wanted to shine a light on some of the...

Tax Deduction Tips When Working From Home

A report by Gallup indicates that the number of people working from home has jumped from 28% in April 2020 to almost 46% in September 2020, showing a rising trend. So how does this affect your taxes? If you’re working from home as a W2 employee, unfortunately, you...