Many people have heard of a Chief Financial Officer (CFO), and they know that this person deals with numbers, but they often question what exactly it is and whether or not it would be beneficial to their business. CFO Advisory is a Chief Financial Officer at a...
Managing money has always been fun for me. Saving money came easy. At the young age of five, I had saved every birthday and Christmas dollar I had received since I was old enough to know what money was, so my parents took me to Columbia County Bank (now Millennium...
I joined Aligned CPA in October, 2022 as the Director of Advisory Services, bringing CFO services to the tax world in order to foster perfect Alignment for our clients. My Experience I spent the last 19 years in the banking industry as a Senior Vice President, holding...
The newly enacted Inflation Reduction Act contains tax credits and depreciation benefits for owners of commercial property and residential rental property. If you implement various types of renewable energy improvements, you can qualify for hefty tax credits or...
IRS regulations contain a safe-harbor rule that allows cash-basis taxpayers to prepay and deduct qualifying expenses up to 12 months in advance without challenge, adjustment, or change by the IRS. Under this safe harbor, your 2022 prepayments cannot go into 2024. This...
Do you know all the ways to collect tax-free income? Surprisingly enough, there are still more than a few ways to do it. Here’s a summary of what we think are the best federal income tax-free opportunities for individual taxpayers. Break 1: Tax-free Income...
Small Business Taxes Self-employment taxes are to individual business owners what payroll taxes are to employers and employees. They fund Social Security and Medicare. All individuals with self-employment income must pay self-employment taxes, regardless of their age....
Tax Reduction Strategies As a business owner, you are in the tax reduction driver’s seat. This is true regardless of how you operate your business (sole proprietorship, partnership, S Corporation, or C Corporation). The tax planning strategies we’ve listed below apply...
Let Me (re)introduce Our Team Hi. And Welcome. It’s been a bit of a hectic, never-ending tax season and we’ve been absent from our blog. Stepping back into the blog world, we thought it would be a good idea to reintroduce our team. These are the behind the scenes...
Answers To The Top 9 Tax Questions For 2020 Returns There were numerous tax law changes for 2020 tax returns. Then we add in the misinformation taxpayers are finding on social media sites, which leads to filing incorrect tax returns. So we thought it would be helpful...
Retirement Planning And Tax Savings How do you multiply your net worth? Let the government help. Here’s how: with both the SEP IRA and the solo 401(k) retirement plans, your investment in your tax-favored retirement creates tax deductions for the money you invest in...
President Signs Covid-relief Legislation On December 27, 2020 the President signed into law the Consolidated Appropriations Act of 2021. This legislation includes tax relief, Covid-relief provisions, and tax extenders that will affect business and individual...