Senate passes amended $1.9 trillion COVID-19 stimulus bill

Tax Planning experts working in Sarasota.

A $1.9 trillion U.S. coronavirus relief package took a step forward Saturday when the Senate voted 50–49 to approve a bill that will be sent back to the House of Representatives because the Senate changed the legislation originally approved by the House. Known as the American Rescue Plan Act, H.R. 1319, the bill will be […]

Case Study: The Pitfalls of Clinging to In-House Accounting

Payroll accountants

A recent US survey showed that 31% of small businesses still keep track of their books on Excel spreadsheets. However, this reporting method was almost four times more prone to human error and potential tax problems down the road. The number one reason given for sticking to these methods was the cost of hiring an […]

Myth: Filing for Tax Extensions Increases Audit Chances

Does the IRS become suspicious when you ask for more time to file your taxes? Absolutely not. Businesses have hundreds of legitimate reasons why they can’t meet the April 15th deadline. Filing for an extension shows that employers are committed to filing their taxes accurately, which actually decreases the chances of an audit. The truth […]

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