Is a Tax Time Bomb Lurking in Your Paycheck?

Does your paycheck look a little higher than normal? If so, it could be a tax time bomb. The Problem A payroll tax deferral beginning September 1 was recently signed via a presidential executive order. The potential deferral of your portion of Social Security as an employee could raise your take home pay temporarily until …

Continue reading Is a Tax Time Bomb Lurking in Your Paycheck?

Protect Your Cash with Segregation of Duties

Fraud and embezzlement don't just happen at large companies. In fact, theft may be more common in small businesses because many lack any form of internal controls that may exist in one form or another in larger businesses. But the good news for small businesses is that effective internal controls don't have to be complicated …

Continue reading Protect Your Cash with Segregation of Duties

Donating Stock to Charities Can Yield Bigger Tax Savings

Scrolling through your inbox, you come across an e-mail from your favorite charity asking for a donation. You've been meaning to make a contribution for a while now, but just never got around to sending them a payment. But you're ready to do it now, and you're cyber smart, so you avoid the e-mail and …

Continue reading Donating Stock to Charities Can Yield Bigger Tax Savings

Don’t Rush Your PPP Loan Forgiveness Application

The Small Business Administration (SBA) has begun accepting forgiveness applications for Paycheck Protection Program (PPP) loans. While you may want to put the forgiveness application process behind you, here are four reasons to consider delaying your application submission: More changes are on the way. Congress is currently debating another COVID-19 relief package which could include more …

Continue reading Don’t Rush Your PPP Loan Forgiveness Application

State Taxing Authorities Are Coming After Your Money

States are creating laws that snag taxpayers everywhere New state tax laws are making more and more taxpayers tax cheats without them realizing it is happening. Think it can’t happen to you? Here are some examples. Your small business registers for sales tax in Texas and you receive a letter from some obscure Texas town …

Continue reading State Taxing Authorities Are Coming After Your Money