Unreimbursed Expenses: Partnership and S-Corp

The home office deduction and the personal vehicle expense deduction are available to sole proprietors, self-employed 1099 contractors, and single member LLCs. But what about partners and s-corp shareholders?

Catherine RoeMay 7, 2021

Standard Deduction versus Itemized Deductions

There are many deductions and credits on the individual tax return. One of the biggest deductions is the standard deduction. However, if you have certain itemized deductions that in total exceed the standard deduction amount, you can take that higher deduction instead.

Catherine RoeMarch 5, 2021

Self-Employment Tax

What is Self-Employment Tax? Self-employment tax is a tax comprised of Medicare and Social Security taxes paid by self-employed individuals. This the same tax that is paid on salary-based income.

Catherine RoeFebruary 12, 2021

Business Use of Vehicle

A deduction for business use of vehicle is generally available for self-employed individuals.

Catherine RoeFebruary 5, 2021

Business Use of Home

If you are self-employed or a partner in a business, you may be able to deduct certain expenses for the part of your home that you use for business as long as you use part of your home exclusively and regularly as your principal place of business for your trade or business.

Catherine RoeJanuary 29, 2021accounting, accounting services, taxes, taxation, Tax Services, tax season

1099 Filing Requirements

What are the requirements to file 1099s?

Catherine RoeJanuary 22, 2021accounting, taxes, taxation, Tax Services, tax season, accounting services, BUSINESS, small busines

Individual Stimulus: How Will It Affect My 2020 Taxes?

How will this affect my taxes, and more specifically, affect my 2020 taxes?

2020 Taxes: A Year Like No Other

Calendar year 2020 may be behind us now, but the effects are still in full force as we enter the spring tax filing season.

July 15th Tax Extension Deadline

What is and isn’t extended in the July 15th tax extension? Please read for more information.

accounting, Business, Certified Public Account, Coffee Shop CPA, CPA, Small Business, Tax, AccountingCatherine RoeJune 29, 2020

COVID-19 Relief and Assistance - Businesses

The following is a summary of the assistance available to businesses related to COVID-19 compiled from various sources.

COVID-19 Relief and Assistance - Individuals

The IRS will begin distribution of economic impact payments automatically sometime later this month. The following information comes directly from the IRS website and is reformatted for better understanding.

Be Prepared for Tax Filing Season

Most people tend to put off preparing for their tax filings however this only adds stress and anxiety in the process. Giving yourself a head start in being organized will help you more than you could imagine.

Whether you are dreading the liability or excited about a refund, here is a list of items you can do now to alleviate some of your stress three months from now.

Ongoing Accounting Services are Important for Start-ups and Small Businesses

Accounting for small businesses is so much more than just getting your receipts and tallies together for tax preparation and crossing your fingers as you hope for a smaller income tax liability.

Cyber-security and Information Safety for Small Businesses

In today’s society, more business is being conducted online. You can even purchase your groceries online! As this trend rapidly increases, cyber-security and information safety have become large concerns for both businesses and their customers.

What Is A Coffee Shop CPA?

More clients are looking for accountants that will be more hands-on with their businesses. They want to know that their CPA is available to help. Many clients are just as happy if not happier if their CPA can operate remotely or meet them in person at a coffee shop.