Are you ready to save money on your taxes by making the most of meal deductions? Understanding how to navigate IRS guidelines can unlock savings that many individuals overlook. Imagine putting that extra cash toward your business or even a fun family outing!...
We are thrilled to celebrate Jordan Regar, Business Development Representative at Aligned CPA, for being honored as the 2024 Young Professional of the Year by the Lake City - Columbia County Chamber of Commerce. This recognition reflects Jordan’s remarkable...
Understanding the difference between an accountant and a bookkeeper is crucial for anyone managing a business or personal finances. Knowing who to hire can save you time, money, and stress. By learning about these roles, you’ll gain clarity on which service best fits...
Are you a small business owner with overdue tax returns? We understand that your business is your passion, and it can feel daunting to admit you need help. We're here to tell you that it's not reasonable to expect yourself to suddenly be an expert in tax and...
Don't Panic Receiving a notice from the IRS can be stressful and confusing, but it doesn’t have to be. Knowing how to respond can help you resolve the issue quickly and avoid further complications. By following the right steps, you can protect your business, avoid...
Key red flags that have the potential to trigger an audit include reporting high income, forgetting to include income from W-2s and 1099s, excessive charitable donations, and the misuse of deductions like home office expenses and vehicle costs. There are also concerns...
Let's get straight to the point: taxes can be a headache, especially if you're running a small business. But what if your CPA could turn that headache into a win for you? That's exactly what we did for one of our newest clients—a small business owner who switched over...
Estimated taxes are a crucial part of the tax system for self-employed individuals, freelancers, business owners, and those with significant investment income. Understanding who needs to pay estimated taxes, when these payments are due, and how to calculate them is...
The IRS (Internal Revenue Service) imposes various tax penalties on businesses for non-compliance with tax laws and regulations. It's important for businesses to be aware of these penalties to avoid costly consequences. We've compiled a list of the eight most common...
Choosing the right entity for your business is a crucial decision that can have significant outcomes for your financial, tax, and operational aspects. Among the various options available, the S-Corporation, or S-Corp for short, is a popular choice for many small...
As another year has quickly passed, it’s time for our business clients (and landlords) to prepare for issuing 1099’s. The 1099 reporting window from year end to due date is short, with reporting due no later than January 31, 2024. Here is what we think you need to be...
The Augusta Rule You may have heard of the Augusta Rule over the last year or so because it has become increasingly popular on social media lately. The Augusta Rule is part of IRC Section 280A that allows a taxpayer to rent out their home tax-free for 14 days or less...