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:

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.

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

Article Written By:  NA

Original Article Posted on:  March 16, 2021

Link to Original Article:  https://www.irs.gov/newsroom/tax-time-guide-irs-reminds-taxpayers-of-recent-changes-to-retirement-plans

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

Article Written By:  NA

Original Article Posted on:  March 1, 2021

Link to Original Article:  https://www.irs.gov/newsroom/heres-what-taxpayers-should-do-if-they-have-missing-or-incorrect-documents

Our email newsletter is a one-stop resource for relevant news and content about Findon & Associates, an accounting firm in Pittsburgh, Pennsylvania. 

Original Article Source Credits: investopedia, https://www.investopedia.com 

Article Written By:  AMY FONTINELLE 

Original Article Posted on:  Feb 4, 2021

Link to Original Article: https://www.investopedia.com/articles/tax/09/self-employed-tax-deductions.asp

Original Article Source Credits: CPA practiceadvisor, https://www.cpapracticeadvisor.com

Article Written By: NA

Original Article Posted on: Jan 27th, 2021

Link to Original Article: https://www.cpapracticeadvisor.com/tax-compliance/news/21207772/8-tax-tips-for-2021 

At Findon & Associates, we understand that filing for taxes can be quite a challenge. Getting ready for a tax year can be viewed as a stressful or laborious task, but you can handle your taxes quickly and easily with a little preparation.

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

One of the significant social side effects of the Coronavirus pandemic is a wave of people suddenly working from home.  You could be wondering if you can get a nice tax break under the Home Office Deduction.  There have been so many tax changes due to COVID-19.  Did the CARES Act change any of the rules surrounding the home office deduction? 

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:   IRS , https://www.irs.gov/

Article Written By:  NA

Original Article Posted on:  November 4, 2020

Link to Original Article:  https://www.irs.gov/newsroom/irs-makes-it-easier-to-set-up-payment-agreements-offers-other-relief-to-taxpayers-struggling-with-tax-debts