Tips for Getting Paid on Time

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. While some tips discussed here may not be suitable for every business, most can…

Identity Theft and Your Taxes

Identity Theft and Your Taxes Tax-related identity theft occurs when someone uses your stolen Social Security number to file a tax return claiming a fraudulent refund. It presents challenges to individuals, businesses, organizations and government agencies, including the IRS. Learning that you are a victim of identity theft can be a stressful event. In many…

Credit for Plug-in Electric Vehicles Winds Down

Credit for Plug-in Electric Vehicles Winds Down The tax credit available for purchasers of new General Motors plug-in electric vehicles begins phasing out on April 1, 2019. The phaseout was triggered because General Motors, LLC has sold more than 200,000 vehicles eligible for the plug-in electric drive motor vehicle credit during the fourth quarter of…

Six Tips for Last-Minute Tax Filers

Six Tips for Last-Minute Tax Filers Earlier is better when it comes to working on your taxes but many people find preparing their tax return to be stressful and frustrating and wait until the last minute. Complicating matters this year is tax reform and the newly redesigned Form 1040. If you’ve been procrastinating on filing…

The Qualified Small Business Stock Exclusion

The 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…

Refundable vs. Non-Refundable Tax Credits

Refundable vs. Non-Refundable Tax Credits Tax credits can reduce your tax bill or give you a bigger refund, but not all tax credits are created equal. While most tax credits are refundable, some credits are nonrefundable, but before we take a look at the difference between refundable and nonrefundable tax credits, it’s important to understand…