The Biden Tax Hikes for Small businesses
Last March, I published an article reviewing the small business impact of the then-leaked Biden Tax Reform proposal. This week House Democrats released their summary proposal to the...
Tax Issues Archives - CFOShare
What increased tax enforcement means to small business owners
President Biden’s “American Families Plan” is scheduled to be funded in part by an estimated $700 billion in additional tax enforcement over the coming decade. In his first...
How Biden’s tax reforms affect your small business
Information about tax changes the Biden administration is considering leaked yesterday, creating some big headlines in media. “First major tax hike since 1993” according to Bloomberg. As a...
Understanding Small Business Taxes in 2021
It is a new year and new set of small business taxes. This year will be particularly complex as provisions from the CARES act unwind and the sales...
What Are the Differences Between Bookkeeping and Accounting?
Bookkeeping and Accounting are part of the same profession and are often confused as the same thing, however they are different activities. Bookkeeping is transactional and administrative record...
Treasury Releases New PPP Taxability Guidance
(Note: the passage of the Economic Aid Act signed into law 12/27/2020 has made this article inaccurate. Forgiven PPP loans are no longer taxable, see our article on...
Making Sense of the New 941 Tax Form Changes
Form 941 is the Employer’s Quarterly Federal Tax Return. It is an IRS form used by employers to report federal income taxes, Social Security tax or Medicare tax...
What the payroll tax holiday mean for your business
President Trump issued an executive order allowing employers to defer OASDI taxes from September through December of 2020, now being called the payroll tax holiday. Some are celebrating...
How Do You Measure the Success of a CFO?
As the person in charge of your company’s financial health, the chief financial officer (CFO) is vitally important. But how can you measure their effectiveness? In this article,...
Should you do your own taxes?
Should I do my own taxes or hire a professional? Will Rogers added to Ben Franklin’s famous quote: “The only difference between death and taxes is that death...