Half the year is gone. Do you know where your business actually stands?
Our free Mid-Year Financial Checkup Workbook helps small business owners review their numbers and build a plan for Q3 and Q4.
Download here: https://t.co/3Mgd6awDRt
#SmallBusiness#MidYear@CPATaxTeam
Already hired summer staff? Seasonal employees follow the same payroll tax rules as year-round workers. No exemptions just because the job is temporary.
Full blog linked below:
https://t.co/WPk5ghYuQE
#SmallBusiness#TaxTips@CPATaxTeam
Myth Monday: "My side hustle is too small to report."
The IRS threshold is $400 net. Freelance, gig work, Etsy — it all counts.
#MythMonday#TaxMyths#SideHustle@CPATaxTeam
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Think that employee perk is tax-free? Think again.
Gift cards, company vehicle personal use, employee meals, and awards are all potentially taxable wages. Missing them in payroll can mean IRS penalties and W-2 corrections.
#SmallBusinessTax#Payroll@CPATaxTeam
Mixing business and vacation this summer?
Deductibility comes down to day counts, itinerary structure, and documentation.
New blog covers what you need to know.
����https://t.co/qLovDEx7LP
#TaxTips #BusinessTravel #SmallBusiness @CPATaxTeam
Myth: Working from home means you can deduct your home office. Reality: Not for W-2 employees.
It is only available to self-employed individuals and independent contractors under IRC §280A.
#MythMonday#HomeOfficeDeduction@CPATaxTeam
Did you know you can rent your home to your business tax-free?
The Augusta Rule has been in the tax code since 1976 and most business owners have never heard of it.
Grab our free guide to learn more.
🔗: https://t.co/BFfRkPc4BQ
#TaxStrategy#TaxPlanning@CPATaxTeam
Rental losses piling up with nowhere to go? Real Estate Professional Status can change that — but most people don't actually qualify.
Here's what it takes: https://t.co/WhYUnbrOy5
#RealEstate#TaxStrategy#Investing@CPATaxTeam
You can invoice every week and still be broke.
The problem usually isn't how much you're charging. It's that you don't know which jobs are actually profitable.
Learn more about job costing in our new blog: https://t.co/CjhE1HSAfO
#SmallBusiness#JobCosting@CPATaxTeam
The IRS uses 9 factors to decide if your side hustle is a hobby or a business, and the difference determines whether you can deduct your expenses or not.
Here's what they look at.
https://t.co/hSLlRU4CZs
#SideHustle#SmallBusiness#TaxTips@CPATaxTeam
Cash vs. accrual accounting can tell two different stories.
Cash is often simpler for small businesses.
Accrual is often better for growing businesses that need to track unpaid invoices, bills, and profitability.
#AccountingTips#SmallBusiness@CPATaxTeam
A SEP-IRA can help self-employed individuals and small business owners make tax-deductible employer contributions while saving for retirement.
Simple, flexible, and worth discussing with your CPA or advisor.
#SEPIRA#TaxPlanning#SmallBusiness@CPATaxTeam
Hiring a summer intern and planning to pay them as a 1099?
That's one of the most expensive mistakes a small business can make. Here's what you actually need to know before they start: https://t.co/rcATuGlRPv
@CPATaxTeam#Payroll
Are you an oil & gas service company? Your tax return probably has more untapped opportunity than you think.
We broke down what most operators aren't asking their accountant.
🔗https://t.co/VYWOV2OzYO
#OilAndGas#TaxPlanning#OilfieldServices#CPA@CPATaxTeam
"I'll catch up on saving later." "My emergency fund is fine." "I'll sell the business when I retire."
These are some of the most expensive words in finance.
Find out why in our new blog: https://t.co/nZvaUnhHK0
#MoneyTips#SmallBusiness#PersonalFinance@CPATaxTeam
Part 3 of our financials series. Payroll liabilities are not your money. They belong to your employees and the government the moment they are withheld. One employee. No exceptions. 💸
#SmallBusiness#KnowYourNumbers#PayrollTips@CPATaxTeam
You filed your taxes. Now’s the time to use that return as a planning tool. Our latest blog covers 5 smart tax moves to make in Q2 so you can stay proactive and avoid surprises later.
https://t.co/7hHajkUont
#TaxPlanning#SmallBusiness#TaxTips@CPATaxTeam