by LittleOwlCPA Admin | Jan 27, 2023 | Accounting, Small Business
As a small business owner, it’s important to stay on top of your accounting and financial records throughout the year. Up-to-date records help you review your business in real time and keep a pulse on the bottom line. Solid financial data helps to ensure a...
by Tabitha Regan, CPA | Dec 30, 2022 | Small Business, Tax Planning
Georgia has expanded a few tax credit programs beginning in 2023. Tax credits give you a “dollar for dollar” benefit which means a $1 tax credit is equivalent to paying $1 in Georgia taxes. Review our tax credit guide about the top Georgia tax credits available to...
by LittleOwlCPA Admin | Nov 11, 2022 | Small Business
End of year-tax planning starts by developing a baseline of your business’ activity. Once you know your starting point, you can consider planning strategies based on your goals which may vary from tax minimization to cash maximization and everything in between. Here...
by LittleOwlCPA Admin | Oct 14, 2022 | Small Business
A corporation must satisfy several requirements to be eligible for treatment as an S-Corporation for federal income tax purposes. However, qualification as an S-Corporation offers a potential tax benefit unavailable to a C corporation. If a qualifying corporation...
by LittleOwlCPA Admin | Sep 2, 2022 | Small Business, Tax Planning
Beginning January 1, 2022, Georgia’s new law establishing a workaround for the federal income tax limitation on deductions for state and local taxes became effective. Owners of pass-through entities including Partnerships, some Limited Liability Companies and...
by Tabitha Regan | Jul 22, 2022 | Small Business, Tax Planning
Self-employment is the opportunity to be your own boss, to come and go as you please, and oh yes, to establish a lifelong bond with your accountant. If you’re self-employed, you’ll need to pay your own FICA taxes and take charge of your own retirement...
