Topic: Tax Credits: Employee Retention & Work Opportunity Presented by: Andy Johns, CPA at EWH Small Business Accounting & Randy Brinkmann, CPA, Partner at EWH Small Business Accounting Date: Apr 8, 2021 09:00 AM Learn what you need to know about the Employee Retention and Work Opportunity Tax Credits. From who is eligible, how PPP…
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There is a language to taxes, and unfortunately, only accountants have been primarily taught that language. Business owners want to know what they don’t know when it comes to keeping more of what they make. After all, it’s not how much you make, but how much you keep: reducing your taxes and keeping as much…
Tax Planning Section 179 Expense Section 179 allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. That means that if you buy (or lease) a piece of qualifying equipment, you can deduct the full purchase price. Section 179 is more beneficial to small…
5 Factors that Determine Your Tax Position Many different factors determine your tax position or how much tax you owe. Below are the five main factors that determine your tax position. Total earnings or the total income you made for the year; this includes your wages, salary, commission, dividends, capital gains, business income, retirement…
Estimated Tax Payments; Do I Need to Make Them, When and How? The Perfect Storm Business owners that are not aware of the estimated tax payment requirements can find themselves in a deep hole at tax time. Here’s a “the perfect storm” scenario: April 15th is the due date for the balance of the prior…
Help Me Save on Taxes www.ewhsba.com We sat down with a team of professional CPA’s with well over 180 years of combined experience asking them questions all small business owner would want answers to in regards to saving money on taxes. These questions were aimed specifically to small businesses, however, whether you own a business…
All business owners face an interesting challenge: how to take profits out of the company and pay the least amount of taxes in the process. If you have an S corporation, there are basically two ways you can get money out of the company: by paying yourself a reasonable salary and by paying yourself distributions.…
Did your business receive a Tax Audit Notification letter in the mail? What should you do and how should you resolve this? Panic is usually your first reaction. Then after a few minutes you realize you’ve been working with a professional accountant who supports you in situations like this. Avoiding some of the most common…
