by LittleOwlCPA Admin | Apr 1, 2022 | Small Business
When developing a succession plan for your business, you must make many decisions. Should you sell your business or give it away? Should you structure your plan to go into effect during your lifetime or at your death? Should you transfer your ownership interest to...
by LittleOwlCPA Admin | Mar 18, 2022 | Small Business
New business owners, especially those operating small businesses, may be helped by a tax provision allowing them to deduct up to $5,000 of the start-up expenses and $5,000 of organizational costs in the first year of the business’s operation. These type of expenses...
by Tabitha Regan | Feb 18, 2022 | Individual Tax, Small Business
As your paper and electronic documents begin to get overwhelming, you may wonder when you can destroy these items and what you should keep. It is critical to keep some documents while others can be destroyed after just a few years. Generally, you should retain all...
by Tabitha Regan, CPA | Feb 4, 2022 | Individual Tax, Small Business
The IRS announced that the starting date for when it would accept and process 2021 tax-year returns was Monday, January 24, 2022. Tips for making filing easier To speed refunds and help with tax filing, the IRS suggests the following: Make sure you have...
by Tabitha Regan, CPA | Nov 26, 2021 | Small Business
As we wrap up 2021, it’s important to take a closer look at your tax and business plans. This year likely brought challenges and disruptions that significantly impacted your personal and financial situations –– a continued global pandemic, several significant natural...
by Tabitha Regan, CPA | Nov 5, 2021 | Small Business
In 2021, Georgia joined several other states to introduce legislation known as the “SALT deduction work-around”. The SALT deduction refers to the $10,000 cap on personal State and Local Tax deduction limitation applied at the individual level. This...
