What to Do if Your Business Owes Back Taxes

by

If you missed a tax deadline or simply couldn’t afford your small business tax bill and got behind, you could face penalties and other issues. This article provides vital information to help you get your financials back on track. What can happen to your small business if you owe back taxes? Depending on your business […]

Tax Fraud vs. Tax Negligence: Understand the Difference

by

 When running a small business, it is essential to understand the difference between tax fraud and tax negligence. In this article, we clarify these terms so that you can avoid unsavory business practices and stay on the right side of the law.  Let’s start with some basic definitions to understand the difference between tax fraud […]

4 Tips on How Small Businesses Can Reduce Taxes

by

As a small business owner, tax liability is the money you owe the government when your business generates income. With changing laws and gray areas regarding deductions, exemptions, and credits, it’s no wonder small business owners rank taxes at the top of the list of the most stress-inducing aspect of business ownership. To reduce that […]

Saving for a Child’s Future

by

Giving money to children or grandchildren is a planning strategy that benefits donors and beneficiaries. You can make annual gifts of up to $15,000 each to an unlimited number of recipients in 2021, free of gift and generation-skipping transfer tax, without using any of the lifetime gift exemption. But consider your options for holding gifted […]