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 LittleOwlCPA Admin | Aug 5, 2022 | Family, Individual Tax, Tax Planning
If you have a child or other dependent and work outside the home, you may need to pay someone to care for your loved ones. Fortunately, the child and dependent care credit may provide some financial relief. The child and dependent care credit is an income tax credit...
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...
by Tabitha Regan, CPA | Jul 8, 2022 | Individual Tax, Tax Planning
In the past, workers stayed with the same company for years and years, working their way up in the company. However, times have changed. Businesses facing hard economic times restructure, forcing employees to look for new jobs. It’s also become common for...
by LittleOwlCPA Admin | Jun 24, 2022 | Small Business, Tax Planning
Fringe benefits may be defined as noncash compensation benefits provided by employers to their employees. Fringe benefits may take a variety of forms, including accident and health benefits, group-term life insurance coverage, dependent care assistance, employee...
by Tabitha Regan, CPA | Oct 15, 2021 | Individual Tax, Tax Planning
Capital gains are the profits realized from the sale of capital assets such as stocks, bonds, and property. The capital gains tax is triggered only when an asset is sold, not while the asset is held by an investor. However, mutual fund investors could be charged...
