While all businesses must file an income tax return each year, simply determining what your business owes the government and what deductions your business may be entitled to can leave some business owners confused and not maximizing their potential for…
Thousands of small business owners applied for and received Paycheck Protection Program (PPP) funds. The SBA-backed loans were designed to help businesses keep their workforce employed during the COVID-19 pandemic. Borrowers can apply for forgiveness once all loan proceeds for…
Managing money is an essential part of business ownership. After all, the goal of your operation is to turn a profit. But many entrepreneurs and small businesses tend to overlook the finer details of their finances. Though you may be…
An S corporation is a small, closely held corporation that essentially operates as a pass-through system in which any income and losses pass through the business owner’s personal tax returns. One of the biggest benefits — and often reason why…
As small business owners struggle to stay afloat a little over a year after the COVID-19 pandemic struck, an extension for small business owners to apply for the second round of Paycheck Protection Program (PPP) funds has been granted, moving…
The new coronavirus relief application period will open on February 24, 2021 and run through March 9, 2021 to expand the Payroll Protection Program (PPP) to smaller sized businesses that were unable to qualify previously. The trusted experts at Orlando…
Cost segregation is a strategic tax planning tool that allows purchasers (both companies and individuals) who have purchased, built or remodeled real estate of any kind favorable tax benefits and increased cash flow from accelerated depreciation deductions and deferral of…
A new coronavirus relief bill passed last month will provide $284 billion in Payroll Protection Program (PPP) loans for small businesses. The experts at Orlando based CPA Accounting & Tax Services shares important details about the new relief bill, outlining…
Perpetuated by the COVID-19 pandemic in 2020, the number of “gig-workers” has increased dramatically. With this increase in the workforce taking on what were once considered side jobs, that were intended to simply supplement income by occasionally driving for Uber…
The Internal Revenue Service (IRS) has recently made a change in the way partnerships are evaluated for tax purposes. This comes in the wake of millions of partnership returns reportedly filed with a large errors that had previously been met…