The landscape of accounting standards is ever-evolving, with continuous updates and modifications that can significantly impact businesses. In this blog post, we will delve into the intricacies of navigating changes in accounting standards and explore what businesses need to know to stay ahead in this dynamic environment.

Tax season can be a daunting time for small business owners, but with the right knowledge, it can also be an opportunity to maximize savings. As a small business owner, understanding the ins and outs of tax deductions is crucial for optimizing financial outcomes. In this comprehensive guide, we will delve into the key tax deductions that every small business owner should be aware of, providing insights and strategies to help you navigate the complexities of the tax code.

In the fast-evolving landscape of accounting, staying ahead of the curve is not just an advantage; it's a necessity. As we step into the future, the accounting industry is undergoing a transformation driven by technological advancements, changing regulations, and shifting client expectations. In this blog, we will delve into the emerging trends in accounting that professionals and businesses need to embrace to thrive in the years to come.

As a small business owner, I know firsthand the complexities that come with managing finances. One area that often presents a unique set of challenges is payroll. Whether you're just starting your venture or looking for ways to streamline your payroll processes, this blog will guide you through the challenges you might face and offer practical solutions to ensure smooth payroll management for your small business.
 

Dear Client:

Many businesses consider the occasional wining and dining of customers and clients just to stay in touch with them to be a necessary cost of doing business. The same goes for taking business associates or even employees out to lunch once in a while after an especially tough assignment has been completed successfully. It is easy to think of these entertainment costs as deductible business expenses. However, due to a recent change in the tax law, many of those expenses may not be deductible.

Starting January 1, 2024, a significant number of businesses will be required to comply with the Corporate Transparency Act (“CTA). The CTA was enacted into law as part of the National Defense Act for Fiscal Year 2021. The CTA requires the disclosure of the beneficial ownership information (otherwise known as “BOI”) of certain entities from people who own or control a company.

Taxpayers who use their home for business may be eligible to claim a home office deduction. It allows qualifying taxpayers to deduct certain home expenses on their tax return. This can reduce the amount of the taxpayer’s taxable income. Here are some things to help taxpayers understand the home office deduction and whether they can claim it:

In today's rapidly changing business landscape, sustainability isn't just a buzzword—it's a critical component of long-term success. As a business owner, you're likely already aware of the importance of sustainable practices for the planet and your bottom line. But how can you effectively integrate sustainable business practices and ensure accurate financial reporting? That's where our accounting services come into play. In this blog, I'll explore how Findon & Associates, a trusted CPA firm in Pittsburgh, Pennsylvania, can help you achieve sustainable financial success through expert financial reporting and accounting services.

In the dynamic business landscape, achieving sustainable growth is the ultimate objective for every entrepreneur and business owner. However, the growth path is often riddled with financial complexities, tax intricacies, and strategic uncertainties. This is precisely where Certified Public Accountants (CPAs) play a pivotal role, offering their expertise and guidance to navigate these challenges and drive businesses toward prosperity. In this blog, we will explore six key aspects of how CPAs, like those at Findon & Associates, contribute to business growth and strategy. 
 

If you are thinking about making energy improvements to your home, it is important to know the changes that happened as a result of the Inflation Reduction Act of 2022. The energy-efficient credit was limited to a lifetime maximum, however, now you can take this credit yearly. If you purchased or installed energy systems beginning in 2023, you could qualify for a credit of up to 30% on qualifying energy expenses. Now is a great time to make energy improvements if they have been on your mind. Energy.gov  and the IRS  has a detailed breakdown of equipment types and the tax credit that is available.

The IRS adjusts tax brackets every year. This is an effort to stop “bracket creep” which is when inflation pushes taxpayers into a higher income tax bracket even though they didn’t get a real increase in spending power.

Happy Holidays from Findon & Associates, CPA’s & Advisors. Wishing you a joyous and safe holiday season, and a Happy New Year 2023!

Filing taxes on time is essential to stay on the right side of the Internal Revenue Service (IRS). But, every now and then, amendments to the tax code can favorably or adversely affect your financial position depending on your unique situation. Therefore, it’s essential to work with a professional that stays on top of the latest tax laws and can help you move forward.

As a small business owner, ensuring that every element of your business works efficiently is crucial. However, you don’t have to oversee everything yourself for your firm to run smoothly. This is especially true when it comes to administrative and accounting tasks. While these are essential elements of running a business, they can get perplexing. This is essentially the case with managing and maintaining payroll-related tasks. As a result, working with a payroll service provider can help you manage and streamline payroll-related tasks, meet regulations, and maintain employer compliance and save your business from fines and fees.

Running a company during COVID-19 has been challenging for millions of entrepreneurs across the country. Consequently, the government has stepped in with a stimulus package to provide tax rebates and safeguard employment.

Original Article Source Credits:   CNET , https://www.cnet.com/

Article Written By:  Katie Teague

Original Article Posted on:  June 30, 2021

Link to Original Article:  https://www.cnet.com/personal-finance/taxes/yes-the-irs-is-still-sending-tax-refunds-how-to-track-your-money-and-see-why-its-delayed/

Original Article Source Credits:   U.S. Small Business Administration , https://www.sba.gov/

Article Written By:  NA

Original Article Posted on:  NA

Link to Original Article:  https://www.sba.gov/funding-programs/loans/covid-19-relief-options/paycheck-protection-program/ppp-loan-forgiveness

Original Article Source Credits:   IRS , https://www.irs.gov/

Article Written By:  NA

Original Article Posted on:  01-Jul-2021

Link to Original Article:  https://www.irs.gov/credits-deductions/advance-child-tax-credit-payments-in-2021

Original Article Source Credits:   IRS , https://www.irs.gov/

Article Written By:  NA

Original Article Posted on:  June 4, 2021

Link to Original Article:  https://www.irs.gov/newsroom/irs-sending-more-than-2-point-8-million-refunds-to-those-who-already-paid-taxes-on-2020-unemployment-compensation

Original Article Source Credits:   IRS , https://www.irs.gov/

Article Written By:  NA

Original Article Posted on:  April 2021

Link to Original Article:  https://www.irs.gov/newsroom/irs-information-letters-about-economic-impact-payments-and-the-recovery-rebate-credit