by briesterer@thinkvisionary.com | Aug 9, 2023 | Business, Fraud, Newsletter
The rise of “ERTC Mills” has caused widespread confusion and increased the potential for fraud. These entities exploit the system, intensifying the risk of deception. While these mills charge for basic clerical duties, their agreements often specify that...
by briesterer@thinkvisionary.com | Aug 2, 2023 | Business, Newsletter, Tax
If you’re self-employed and use your car, SUV or other vehicle for business, you can deduct certain business-related vehicle expenses. Depending on the cost of operating the vehicle or how much you drive it, as well as how much of your use of the vehicle is for...
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...