Over the last three months, COVID-19 has grown to affect almost every aspect of daily life. From shelter-in-place mandates to the millions of workers currently out of work, we’ve all felt the impact. As a small business ourselves, we understand that this is a time of financial crisis for so many similarly-sized businesses across the […]
Tax and Accounting
Families First Coronavirus Response Act: What Does it Mean for Small Businesses?
The Families First Coronavirus Response Act is one of several acts passed in response to the COVID-19 crisis but the first bill to directly address the economic crisis and the challenges faced by individual taxpayers and businesses. While the first legislative response focused on emergency preparation and measures in response to the coronavirus, the new coronavirus aid package aims […]
COVID-19 and the Pandemic Impact on Opportunity Zones
We talked to leading tax expert Blake Christian, Tax Partner at HCVT in Long Beach, CA/Park City, Utah about the impact on Opportunity Zones during this time. The goal was to gather how the pandemic affects Opportunity Zones and advice on strategies moving forward. TaxConnections genuinely appreciates Blake’s input as he offers very valuable insight […]
The Difference Between Independent Contractor And Employee: Why It Matters
If you hire someone for a long-term, full-time project or a series of projects that are likely to last for an extended period, you must pay special attention to the difference between independent contractors and employees. Why It Matters The Internal Revenue Service and state regulators scrutinize the distinction between employees and independent contractors. That’s […]
These Are the Accounting & Bookkeeping Facebook Groups You Should Know
You want to learn more about taking your practice online. You’re looking for tips on using cloud-based tools and decoding the ever-growing ecosystem of fintech applications. Or, maybe you just want to connect with your fellow humans — your accounting and bookkeeping peers. Even if you’re not a social butterfly or networking master, believe it […]
3 Important Sales Tax Predictions to Watch for in 2020
The world of sales tax has changed a lot in the past year. Following the Supreme Court’s Wayfair decision, 2019 was the year most states began requiring businesses to collect and remit sales tax, and then began making marketplace facilitators (such as Amazon or eBay) responsible for collecting and remitting the taxes on sales that […]
10 Simple Accounting Solutions for Small Businesses
Every small business needs to be on top of its numbers. By learning bookkeeping and accounting basics, you can ensure you have the necessary skills to handle your accounts. You can also make use of accounting software solutions to make your financial operations run much more smoothly. Another way of finding solutions to accounting issues […]
File or Extend: A Complete List of 2020 Tax Deadlines
Understanding your tax requirements as a small business owner or individual is tricky and challenging at the best of times. There are so many moving pieces and requirements – all due on different days – that it can be hard to keep it all straight! However, there are few things more important for the long-term […]
4 Accounting Tips for New Gig Economy Businesses
There are many terms for providing a service as a small business—gigs, contracting, freelancing, and the trade industry just to name a few. Many people just starting their businesses are enthusiastic to develop their product, but unaware of some simple accounting practices for small businesses. These tips can save both time and money when it comes […]
Becoming Your Own Boss: How to Start Your Own Accounting Firm
There are many ways to advance your career. You can work your way up the corporate ladder, or, you can decide to be your own boss. Have you ever thought about starting your own accounting firm? If so, then this is the article for you. Read on to look at what it takes to start […]
