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Tax Time CPAs Blog
Business, Tax, and Accounting articles and information.
How to Avoid the 3 Most Common Tax Penalties
Nothing makes your heart stop quite like seeing an IRS letter show up in your mailbox. Except seeing the bold, large print showing a balance due for penalties and interest at the top of the notice....
The Complete Visual Guide to The Business Life Cycle
Whenever we take on new clients, one of the first things we want to discover is where they are in the business life cycle — knowing where they are in their business journey allows us to help them...
Can I Deduct That? A Clear Guide to Expenses
Can I deduct that? This is a question we hear from new and seasoned business owners alike. Being unaware of how to separate business vs. personal expenses or trying to get creative with the...
Is it Time to Hire a Bookkeeper?
Whether you're just getting started or have been in business for a long time, it can be challenging to decide if it’s time to hire a bookkeeper. Many business owners have to DIY-it and wear all the...
Drive More Success, Clarity, and Focus with Tax Planning
It’s time! It’s tax planning season once again here at Tax Time CPAs! We’ve finished with last year’s taxes officially. Goodbye, extended tax season, Hello 2020… ugh… 2020… At Tax Time CPAs, we...
Side Hustle to Full Hustle? What Are Your Entity Choices?
The entity choices available in the United States can feel overwhelming, especially when you’re just getting started with a new business. We’ll walk through a high-level overview of some of the legal and tax pros and cons of each entity type.
10 Trick or Treats from the Unique 2020 Tax Season
While most people think of tax season ending in April, for tax professionals, the season has a much scarier official end date, October 15. It’s proximity to Halloween can make the deadline feel...
Occupational Fraud and Its Impact on Small Businesses
Are you prepared to lose 5% of your annual revenue to fraud? That's the amount Certified Fraud Examiners (CFEs) estimate is lost each year based on their findings in the 2020 Report to the Nations...
Fractional CFO Explained In One Handy Guide
As professionals, we frequently throw around words forgetting that we're speaking in code or industry jargon. A new-ish term to the financial world is Fractional CFO (Chief Financial Officer). Huh?...