big-3

Tips for Getting Paid on Time

Business Tips, Big 3, Tips for Getting Paid on Time

Have you found that collecting on your accounts receivables has become more challenging? If so, strengthening your collection procedures may allow you to improve collection rates and shorten the aging days of your accounts receivables.

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EIN application Process Revised to Enhance Security

Big 3, Enhance Security, EIN Application, Revised Process

Starting May 13, 2019 only individuals with tax identification numbers may request an Employer Identification Number (EIN) as the "responsible party" on the application. An EIN is a nine-digit tax identification number assigned to sole proprietors, corporations, partnerships, estates, trusts, employee retirement plans and other entities for tax filing and reporting purposes.

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The Qualified Small Business Stock Exclusion

Tax Breaks, Tax Planning for Small Businesses, Big 3, Tax Benefits, Small Business, 2019, Qualified Small Business Stock Exclusion

As the driving force in today's economy, small businesses benefit from numerous tax breaks in the tax code. One of these, the Qualified Small Business Stock (QSBS), was made permanent by the PATH Act (Protecting Americans from Tax Hikes Act of 2015). If you're a small business investor, here's what you need to know about this often-overlooked tax break.

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Like-kind Exchanges are Limited to Real Property

Important Tax Changes 2018, Big 3, 2019, Like-Kind Exchanges, Limitations

The Tax Cuts and Jobs Act, passed in December 2017, made tax law changes that will affect virtually every business and individual in 2018 and the years ahead. One tax provision that taxpayers should be aware of is that like-kind exchanges are now generally limited to exchanges of real property. Here's what you need to know:

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Employers Beware: Identity Theft and W-2 Scam Alert

Identity Theft, Tax Scams, New W-2 Scam, Big 3, Alert, W2 Scam, Warning

The 2019 tax season is quickly approaching and with it an increase in identity theft and W-2 scams. Small business identity theft is big business for identity thieves. Just like individuals, businesses may have their identities stolen, and their sensitive information used to open credit card accounts or used to file fraudulent tax returns for bogus tax refunds.

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Important Tax Changes for Individuals and Businesses for 2019

Planning for Tax Changes, Important Tax Changes 2018, Big 3, 2019

Every year, it's a sure bet that there will be changes to current tax law and this year is no different, now that the tax provisions under the Tax Cuts and Jobs Act of 2017 (TCJA) are in full effect. From standard deductions to health savings accounts and tax rate schedules, here's a checklist of tax changes to help you plan the year ahead.

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Tax Transcript Email Scam Alert

Tax Scams, Big 3, 2018 Alert

Taxpayers should be aware of a new round of fraudulent emails that impersonate the IRS and use tax transcripts as bait to entice users to open documents containing malware. The scam is especially problematic for businesses whose employees might open the emails infected with malware as it can spread throughout the network and may take months to remove.

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Recap of Business Tax Provisions for 2018

Tax planning, Tax Provisions, Tax Planning for Small Businesses, Big 3, Small Business

The Tax Cuts and Jobs Act of 2017 (TCJA) eliminated or modified numerous tax provisions starting in 2018. Here's what businesses need to know as they get ready for tax season. Here's what business owners need to know about tax changes for 2018.

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Year in Review: Tax Changes for Individuals 2018

Individuals, Year-End Tax Planning, Big 3

The Tax Cuts and Jobs Act of 2017 (TCJA) eliminated or modified numerous tax provisions starting in 2018. Here's what individuals and families need to know as they get ready for tax season.

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Section 199A: Qualified Business Income Deduction

Big 3, Small Business, Sec 199A

Thanks to tax reform legislation passed in December 2017, eligible taxpayers may now deduct up to 20 percent of certain business income from qualified domestic businesses, as well as certain dividends. Eligible taxpayers can claim the deduction for the first time on the 2018 federal income tax return they file in 2019.

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