The Planner

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Taxes

How to File Taxes Without a 1099

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Christian Brim

1099’s are the forgotten form of small businesses. The IRS uses 1099’s to collect information from various sources to help them with compliance, read make sure you file all of your income.

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How to Take Earnings Out of an S Corporation

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Christian Brim

How is your business taxed?

Many business owners assume that if they have set up a corporation or an LLC that they can automatically be treated as an S-Corporation. Fake news! Any newly created legal entity (e.g. corporation, LLC) can be elected to be taxed as an S-Corporation, but it requires filing the request with the IRS. Failure to do so will default to the tax type normally associated with the type of entity. For a corporation the IRS could default to taxing you as a C-Corporation, for an LLC, the default is to be taxed as a partnership.

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Grants in the Consolidated Appropriations Act of 2021

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Core Group

There are more than just PPP loans in the Consolidated Appropriations Act of 2021. Live event operators will eligible for grants up to $10 million, which can be used for eligible expenses. At least $2 billion in grants are set aside for small employers. Small employers are defined as those with not more than 50 full-time employees.

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PPP Continues in Consolidated Appropriations Act, 2021

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Core Group

To answer your question, no Congress is not done.  In the wee hours of December 21st, they passed the Consolidated Appropriations Act 2021 and included an extension of the popular Paycheck Protection Program (PPP) for 2021. 

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Toilet paper roll with money sign

A Tax on Toilet Paper? Really?

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Christian Brim

‍I know that no one likes taxes, and it would be a major coup to have 100 people agree on what is the best taxation method, but we’ve truly gone through the looking glass folks.

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Fear and Loathing in Washington D.C.

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Christian Brim

There is a lot, and nothing, going on in Washington D.C. at the same time.  Here is an...

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Core Process for Tax Planning

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Core Group

The average accountant waits for you to show up with a folder full of stuff around tax time, and you’ll hear from them only when it’s time to write a painfully large check. Once this annual ritual is complete, you part ways (while you lick your wounds) and dread the next time when you’ll start the process again.

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Carpe Per Diem

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Core Group

Expense reimbursements to employees and owners are one of the most consistently overlooked...

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6 Keys To Hire an Accountant

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Core Group

When you start a business, chances are you’ve never had to hire a professional like an accountant. Most people ask for a referral from a colleague, which is a great place to start, but because they’re a good fit for your friend, does that mean they’re good for you?

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SECURE Act Part Two

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Core Group

 

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