This blog was originally published on January 25th, 2022 but has been updated on January 18th, 2023. Tax season is upon us, which means it’s time to start preparations for your 2022 tax return. Whether this is your first or your fiftieth year filing taxes, preparing for tax season can be stressful and often frustrating.
This month, Wood CPA is celebrating a big milestone: three years in business! Three years might not seem like much, but for a small business, those first three years can be the difference between success and failure. And we’re proud to say that Wood CPA has proven itself to be very much a success! In.
As a small business owner, you might not be aware of all the deductions, credits, and other business income strategies that can help you lower your tax bill. That’s why we put together a list of 10 quick tips to help you keep your income where it belongs: out of the government’s coffers, and in.
For small businesses, bookkeeping is an essential part of the tax planning process. Bookkeeping involves keeping track of your company’s financial transactions on a regular basis. With an organized log of all business expenses, you’ll be able to make accurate financial decisions and tax preparations. Key Takeaways: Bookkeeping and accounting are technically two separate services–but.
Many people who seek out CPAs simply want their tax return filed. But there are plenty of online tax preparation services that can help you file your taxes. You don’t necessarily need to enlist the services of a Certified Public Accountant for that. So when do you need the services of a CPA? Well, most.
For many folks, the only time they see their certified public accountant is during the weeks leading up to April 15th–also known as Tax Day. But what exactly do they get up to after that? Much like we used to assume our school teachers lived in their classrooms and evaporated into thin air once summer.
There are several different ways an inheritance can be taxed in the North Star State. Whether you’re preparing your own estate or have found yourself the beneficiary of one, it’s important that you understand all the tax implications (including any potential tax breaks) so you can plan accordingly. At Wood CPA, we make sure our.
When you start your own business, there are seemingly millions of decisions to make. From financial and legal considerations to hiring and training staff, it can feel like a lot. Of all of the decisions you have to make as you set up your business, choosing a business structure is one of the most important..
Hiring the right CPA can be a game-changer for your business. A good CPA can save you time, prevent costly mistakes, help you choose the right business structure and accounting method, make tax time less stressful, and even help you set goals and make decisions for your business. But how do you find the right.
Sales and use tax management and compliance issues are not limited to retail companies — they can pose a challenge for businesses of all types and sizes. Collecting, calculating, reporting, and paying sales and use taxes are often some of the most confusing aspects of running a business. And because these taxes impact your business.