Tax Issues Archives

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...

Bookkeeping, Small Business, Tax Issues

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...

Covid-19, Tax Issues

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...

Covid-19, Small Business, Tax Issues

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...

Covid-19, Tax Issues

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,...

Bookkeeping, Business Turnaround, Downturn Management, Small Business, Startup, Tax Issues

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...

Tax Issues

How Are You Taking Advantage of Tax Reform?

Will you be leaving money on the table next year? Tax reform is here, and it’s time to seriously review your business. Just before Christmas, Congress passed legislation...

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