by briesterer@thinkvisionary.com | Jul 5, 2023 | Business, Newsletter, Tax
At some point, most small business owners will visit a bank or other lending institution to borrow money. Understanding what your bank wants and how to approach it properly can mean the difference between getting a loan for expansion or scrambling to find cash from...
by briesterer@thinkvisionary.com | Jun 1, 2023 | Business, Newsletter, Tax
Many businesses hire part-time or full-time workers, especially in the summer. The IRS classifies these employees as seasonal workers, defined as employees performing labor or services on a seasonal basis (i.e., six months or less). Examples of this kind of work...
by briesterer@thinkvisionary.com | May 3, 2023 | Business, Individuals, Newsletter, Tax
Estimated tax is the method used to pay tax on income not subject to withholding, such as income from self-employment, interest, dividends, alimony, and rent and gains from the sale of assets, prizes, and awards. You also may have to pay an estimated tax if the income...
by briesterer@thinkvisionary.com | May 3, 2023 | Business, Individuals, Newsletter, Tax
Taxpayers who reported certain state 2022 tax refunds as taxable income may need to file an amended tax return. Affected taxpayers include those who filed before February 10, 2023, and meet certain requirements. Taxpayers who used a tax professional should consult...
by briesterer@thinkvisionary.com | May 1, 2023 | Business, Individuals, Newsletter, Tax
Tuesday, April 18, 2023, was the deadline for most taxpayers to file their tax returns. If you haven’t filed a 2022 tax return yet, it’s not too late. First, gather any information related to income and deductions for the tax years for which a return is...
by briesterer@thinkvisionary.com | Apr 10, 2023 | Business, Individuals, Newsletter, Tax
Obtaining a six-month extension to file is relatively easy, and there are legitimate reasons for doing so; however, there are also a few downsides. If you need more time to file your federal income tax return this year, here’s what you need to know. What Is an...
