What to Expect from 2022 Tax Returns
IRS Announces Inflation-adjusted Rates for 2022 Tax Returns The IRS announced new rates for 2022 tax returns. These rates have increased due to inflation, which was higher in 2021. The new rates will become effective starting January 2022. So, you’ll need to take the...
How FMA CPA Will Assist Independent Contractors with Tax Planning
Independent Contractor Taxes: A Guide on How to Pay Your Taxes With an evergreen tax code that measures thousands of pages long, it’s understandable if you’re unsure of what’s expected of you regarding independent contractor taxes. Being an independent contractor...
Understanding Your Profitability Analysis
Profitability Analysis—An Overview Plan for What’s Next Profitability analysis is a business essential. While this may sound obvious at first, the nuances of generating profit transcend what you see on your financial statements and balance sheets. Running a profitable...
7 Benefits of Business Advisory Services for Small Businesses
Small Business Advisory Services—Unlock Your Growth In today’s competitive business environment, organizations strive to be agile, creative, and forward-thinking. As a result, businesses require tailored, comprehensive business advisory services that go beyond...
Can I Write-Off Personal Expenses Through My Company?
Personal Tax Deductions: Tax Planning Tips to Avoid Tax Audits One of the most common problems small business owners make when they’re first starting out is commingling their personal and business accounts. That’s how so many businesses find themselves within an IRS...
Year-End Tax Planning Tips from FMA CPA
5 Year End Tax Planning Strategies for Small Business Owners Looking to make the next tax season a little less taxing? Tax season can be hectic and overwhelming for small business owners. It’s not surprising considering how utterly complex U.S. tax laws are in...
How a Business Tax Advisory Can Assist with Succession Planning
Why Should a Small Business Owner Have a Sound Succession Plan? Business owners recognize that, on average, only 30% of small businesses survive into the second generation. No matter how you look at it, this tells you putting off the issue of succession planning for...
10 Mistakes to Avoid with Small Business Bookkeeping
10 Common Bookkeeping Mistakes Small Businesses Make Unlike large corporations, small businesses may not always afford to hire full-time in-house accountants. Most of the accounting work is usually done by the owner or an employee with limited accounting skills. As a...
