Time to pay your SS tax deferral!
Remember that flurry of CARES act tax credits, stimulus, and tax deferrals? There was lots of free money in the CARES act, but one component needs to be...
Tax Issues Archives - CFOShare
What is DR 0004?
Business owners in Colorado received an email Wednesday advertising the new DR 0004 form. What is DR0004? TLDR, it is a complex payroll tax election that is not...
Sales Tax for CBD
As cannabis business, you want to know, are CBD products taxable? The answer: yes. Since the 2018 South Dakota vs Wayfair, Inc ruling, the tax code declares that...
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...
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...