CHILD CARE CREDIT

The child care credit is not free money. It is a advance on the child care credit you typically receive at the end of the year on your 1040. Please make sure to discuss how this will affect you with your tax professional. You could end up owing money to the IRS.

IRS

The Covid-19 pandemic caused a backlog of nearly 8 million paper-filed business tax returns at the IRS in 2020, according to a reporting issued by a US Treasury Department watchdog. That represents a 3,230% increase relative to the end of 2019, when the IRS had approximately 239,000 paper returns waiting to be processed.

Celebrate Memorial Day!

Have a safe Memorial Day!  Remember what today is all about, the veterans who have served selflessly on our behalf today and everyday to keep us safe and fight on our behalf. Support veteran owned business. That is the least we an do for our fellow citizens who give a part/or all of their life…

Another IRS Alert regarding schemes and the W2’s

The IRS issued an alert regarding emails requesting personal information on your company executives. “This is a new twist on a old scheme using the cover of the tax season and W-2 filings to try to trick you into sharing personal data via the internet” The IRS is already investigating several cases in which people…

Employee theft

We have noticed a trend of employee theft using petty cash. Do not put cash directly in Petty cash for services or products, allowing it to sit unaccounted for.  Put all cash directly into the bank, and write a check for cash (petty cash) then collect receipts and reconcile the petty cash every month.

Cloud

It’s the start of a new year.  Go green, put everything on the cloud, ask us how!