Hiring an inexperienced or low-cost accountant may seem like the best option, but it can end up being a costly mistake. The fact is that an accountant is generally someone who is tax compliant but lacks the training to see and plan long term: Staff members may not be credentialed. Inadequately trained and staffed tax return preparation can lead to errors and missing crucial details. Too many clients for the… Read More
HOW TO GUARANTEE YOU’LL BE JAILED FOR TAX EVASION!
Tax Planning That is Too Risky or Illegal The IRS is more focused on the returns of business owners than W2 earners since there are far more opportunities to “cheat” in that arena such as: Under-reporting or omitting income; keeping a second, fraudulent set of books. Discrepancies in amounts reported on a corporation’s return and amounts reported on its financial statements. Paying your children or spouse for work that they… Read More
HELP! I NEED ADVANCED TAX ADVICE FOR MY BURGEONING BUSINESS
When to Upgrade to an Advanced Accountant It’s common to find yourself and your business facing more complicated taxes as you grow or purchase a business, open it to investors or change your business model. Chances are you have not had time to do your own returns for some time, and if you are acquiring rental properties or other assets, it’s time to invest in a Tax Strategist—it could be… Read More
3 Fixable Financial Mistakes Sinking Your Atlanta Business
Though the days are getting shorter and the weather is taking a turn, there are some great revenue reasons to get excited about the next two months. As we round the bend into Black Friday territory (which for many began at the end of October), it’s time to get nimble with your business plans. We all know the power of the holiday season for boosting sales — revenue-increasing opportunities abound…. Read More
Are Atlanta Consumers Exhausted by Tip Screens?
How much tipping is too much? The drain on the consumer wallet right now is real. Everything costs more and everyone seems to be wanting more of your dollar. So, when businesses swivel that screen around with requests for 15, 18, or 20% tips on an order, it’s no wonder people have become less inclined to generosity. Where once the tip jar was a feel-good moment to give your barista… Read More
How Boat Owners Can Leave Taxes in Their Wake!
It’s best to plan your tax strategy even before purchasing a boat by deciding on how to handle the sales tax on this high-end purchase. Some states have yearly property taxes on boats that may be more costly than sales and use taxes over the years. You need to think about: Business Commuting deduction Can you take a primary or secondary home deduction? Should You Put Your Boat in an LLC? 179… Read More