End-of-Year Tax Tips for Businesses
December is known for its celebrations, reflections, and planning. If you’re a business owner, you’re likely setting revenue goals for next year, buying holiday gifts, and planning out any big purchases or investments. As you close out your books for the calendar...
Tax Tips for Major Life Changes
Generally, it’s rare for people to think about their taxes when major life changes occur, and understandably so. Paperwork is the farthest thing from the minds of those who just got married, had a baby, or bought their first home. Though your tax filing status or the...
Tips for Planning Your 2020 Business Strategy
One of the biggest mistakes business owners can make is not dedicating enough time for business strategy and future planning. When this happens, companies miss out on opportunities to protect their revenue and maximize their growth. By taking a step back, reviewing...
Client Spotlight: Majestic Floors and More, LLC
“Majestic Flooring and More now has even more. The flooring shop that opened in Waunakee in 2015 at the Village Mall has been in operation since May in its new, larger storefront between Associated Bank and the Dollar Tree.
Time of the Season: Withholding Checkup
Why you need to adjust your tax withholding now Withholding taxes from your paycheck correctly can be a tricky process – if you withhold too little, you receive a bill at the end of tax season (one that, statistically, only 40% of Americans can afford to pay)....
I filed my taxes wrong: How do I fix my mistake?
Mistakes happen: you forget about your side-job income, forget to declare a dependent or forget to include important documents in your tax return. Perhaps your filing status changed, or you didn’t claim a key deduction. The quickest way to remedy the issue is...
What’s the Difference Between an Accountant and a Bookkeeper?
I’m a business owner and I need help with the numbers. Should I hire an accountant or a bookkeeper? When we encounter this question, we always respond in the form of another question: What, specifically, do you need your ‘numbers person’ to do? While some of the...
Notice 2019-07 Creates a Safe Harbor for Rental Income
When the Tax Cuts and Jobs Act signed into law in 2017, the act brought changes to both personal and business income taxes. We developed a comprehensive guide on the TCJA and offered more details on the Qualified Business Income Deduction (QBDI) in 2018, but questions...
4 Things to Do Now to Impact Your 2018 Taxes Most
Taxes are something we’re all familiar with in one form or another. By law, any income made as an employee or net income made as a business owner must be reported and taxed. If you’re a small business owner, you understand that tax planning happens year-round, not...
Updates on U.S. Tax Law: The Qualified Business Income Deduction and the Holiday Party
With the recent changes to the U.S. tax code, we’ve had several small business owners ask us how this will affect them when they complete their 2018 taxes. They know that the Tax Cuts and Jobs Act (TCJA) has shaken things up, and they want to make sure...
Recent Comments