The Internal Revenue Services (IRS) main form of communication with taxpayers is through the two types of notices, a CP (computer notice) and a LTR (letter notice). There are many reasons that the IRS will send notices to a taxpayer, a few including that there is a balance owed, the IRS has made changes to … Read more
Corporate Transparency Act Beneficial Ownership Information Reporting This letter serves to alert you of the Corporate Transparency Act (CTA) requirement for Beneficial Ownership Information Reporting (BOI), which will impact most LLCs, corporations, limited partnerships, and other closely held entities. Congress enacted the CTA to create a national database of the beneficial owners of companies … Read more
Just like you prepare your home or car for the winter, you also need to do some annual tasks to get your financials ready before the new year gets hectic. Completing these items at the start of the new year will help save you time and hopefully prevent a headache come tax season. Reconcile all … Read more
The Employee Retention Credit (ERC) is a tax relief program started by the CARES Act in 2020 and expanded by the American Rescue Plan Act in 2021. Eligible employers can receive a refundable credit against their payroll taxes as a reward for keeping their employees on the payroll during the pandemic. The ERC can be … Read more
We are so proud to call Military City, USA our home! Today we honor all those who have served our country, including some of our very own team members! ? Anthony Gomez U.S. Navy Anthony (right), our System Support Specialist, served 10 years in the U.S. Navy! ? Austin Williams U.S. Army Austin … Read more
It may be a toss-up as to who dreads a family talk about your finances and the future more. You or your heirs. Regardless, if you havent had that talk or its been a while, theres no time like the present to discuss expectations yours and theirs concerning your estate. They could be … Read more
Bookkeeping is the backbone of every successful business, providing entrepreneurs with vital financial insights which serve to inform key business decisions and maintain regulatory compliance. From deciding whether you have the cash flows to make your next big investment to weathering economic fluctuations and thriving in the long run, a well-established bookkeeping system will allow … Read more
There are some things in this world that are certain: The sky is blue, the grass is green (unless its summer in South Texas), and businesses want to make more money. In previous years, professional services, such as public accounting firms, could rely on referrals to maintain a stream of clients and profit. However, with … Read more
In today’s rapidly evolving technological landscape, businesses face ever-growing cybersecurity challenges. Strong data security measures must be in place to protect sensitive information and ward off cybercriminals. This article aims to summarize essential practices that businesses can implement to safeguard their data. These foundational security measures can help businesses reduce risks and respond to incidents. … Read more
So, you are receiving Social Security benefits, however, you are not sure if this income is subject to federal income taxes. According to the Social Security office, paying taxes on Social Security benefits only happens if there is other substantial income reported on the tax return, such as wages, self-employment, interest, dividends, or other taxable … Read more