by somichcpa | Jan 28, 2020 | Individual Taxes, Tax Tips
Tax filing season has officially begun and now is the time to start getting your tax records organized. If any of the following situations pertain to you, consider filing your taxes as soon as possible. You’re worried about tax identity fraud. One of the most popular...
by somichcpa | Jan 16, 2020 | Individual Taxes
5 Surprising Taxable Items Wages and self-employment earnings are taxable, but what about the random cash or financial benefits you receive through other means? If something of value changes hands, you can bet the IRS considers a way to tax it. Here are five taxable...
by somichcpa | Jan 9, 2020 | Corporate Taxes, Individual Taxes
New mileage rates announced by the IRS Mileage rates for travel are now set for 2020. The standard business mileage rate decreased slightly to 57.5 cents per mile. The medical and moving mileage rates also decreased to 17 cents per mile. Charitable mileage rates...
by somichcpa | Jan 3, 2020 | Business, Corporate Taxes
Your bookkeeping system is the financial heart and lifeblood of your business. When set up and operating properly, your books help you make smart decisions and seamlessly turn your financial data into useful information. Here are four key characteristics to build and...
by somichcpa | Dec 17, 2019 | Corporate Taxes
When tracking and planning your business objectives, it’s easy to focus your analysis on two reports — the income statement and balance sheet. But one of the primary keys to your business’s success relies more on how you handle the money flowing in and out of the...
