Tax and Accounting
IRS Unclaimed Refunds Waiting For Taxpayers Face July 15 Deadline
Unclaimed income tax refunds worth more than $1.5 billion await an estimated 1.4 million individual taxpayers who did not file a 2016 federal income tax return, according to the Internal Revenue Service. “The IRS wants…
Important: IRS Finalizes Changes to Payroll Tax Return Form 941
On June 20, 2020, the IRS finalized tax Form 941, Employer’s Quarterly Federal Tax Return, to collect information about the new COVID-19 tax incentives, expanding the form from two to three pages, and adding 58 new…
How to Create a Simple Bookkeeping Spreadsheet for Your Business
Bookkeeping is a practical way to make sure that your business can track its budget. Every transaction that occurs will affect how your business allocates its finances. The use of a spreadsheet allows you to…
5 Red Flags of Deceptive Financial Statements You Need to Know
In a recent case investigated by the Royal Canadian Mounted Police (RCMP), the senior executives of a publicly traded company were charged with fraud related to the financial statements of the company. The RCMP stated…
6 IRS Tips About the Gig Economy Taxpayers Need to Know
The gig economy, also called sharing or access economy, is activity where taxpayers earn income providing on-demand work, services or goods. Often, it’s through a digital platform like an app or website. While there are…
Pandemic: When is it Time for a Small Business to File Bankruptcy?
It is no secret that the pandemic currently gripping the globe has resulted in more than a few hardships for individuals, families, and businesses. It is often small businesses that get impacted the most. These…
What You Need to Know About Covid-19 Tax Relief
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…
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….
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…
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…
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