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.

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.

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:

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

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:   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

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

Article Written By:  NA

Original Article Posted on:  January 26, 2021

Link to Original Article:  https://www.irs.gov/newsroom/new-law-extends-covid-tax-credit-for-employers-who-keep-workers-on-payroll

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

Article Written By:  NA

Original Article Posted on:  March 18, 2021

Link to Original Article:  https://www.irs.gov/newsroom/tax-time-guide-use-the-wheres-my-refund-tool-or-irs2go-app-to-check-tax-refund-status

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/coronavirus-relief-options/paycheck-protection-program

Original Article Source Credits:   Business 2 Community , https://www.business2community.com/

Article Written By:  Ty Mezquita

Original Article Posted on:  December 17, 2020

Link to Original Article:  https://www.business2community.com/finance/irs-pin-protection-in-2021-02371363

Original Article Source Credits:   The Motley Fool , https://www.fool.com/

Article Written By:  Dan Caplinger

Original Article Posted on:  Dec 28, 2020 

Link to Original Article:  https://www.fool.com/taxes/what-are-the-key-irs-tax-changes-for-2021/

Original Article Source Credits:   Forbes , https://www.forbes.com/

Article Written By:  Kelly Phillips Erb

Original Article Posted on:  Dec 22, 2020

Link to Original Article:  https://www.forbes.com/sites/kellyphillipserb/2020/12/22/irs-releases-2021-mileage-rates/?sh=54ce15022fb0

The coronavirus relief bill passed by Congress includes many tax provisions, including the extension of various expiring provisions, extensions and expansions of certain earlier pandemic tax relief provisions, and much more.

Original Article Source Credits:  Tax Practice Advisor  , https://www.taxpracticeadvisor.com/

Article Written By:  NA

Original Article Posted on:  Dec 7th, 2020

Link to Original Article:  https://www.taxpracticeadvisor.com/business-income-taxes/news/21165460/aicpa-and-business-groups-urge-congress-to-pass-ppp-expense-forgiveness

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

Article Written By:  Clifford Colby, Julie Snyder, Dale Smith

Original Article Posted on:  Dec. 9, 2020

Link to Original Article:  https://www.cnet.com/personal-finance/a-second-stimulus-check-may-bring-some-people-more-money-would-you-be-among-them/

Original Article Source Credits:   CNBC , https://www.cnbc.com/

Article Written By:  Darla Mercado

Original Article Posted on:   NOV 18 2020

Link to Original Article:  https://www.cnbc.com/2020/11/18/thisthe-irs-is-blessing-workaround-that-allows-business-owners-to-deduct-state-and-local-taxes.html

Original Article Source Credits:   National Society Of Accountant , https://www.nsacct.org/

Article Written By:  NSA Admin

Original Article Posted on:  12-10-2015

Link to Original Article:  https://www.nsacct.org/blogs/nsa-admin/2015/12/10/6-things-to-bring-your-accountant-to-prepare-your-tax-return