What is a Tax Short Year?
A short tax year is a tax period that covers less than 12 months. This can happen for various reasons, such as when a business is established or terminated in the middle of a calendar year, when a taxpayer changes their accounting period, or when there are other circumstances that result in a tax period […]
Read MoreIRS Increased Funding-What This Means For Taxpayers
Article: IRS Increased Funding-What This Means for Taxpayers Category: IRS Fearmongering language has been popping up from some public figures regarding the new Congressional bill allotting $79.6 million dollars to the IRS. We will outline what this bill does and, more importantly, does not mean. One: The IRS is Not Bringing Guns to Middle Income […]
Read MoreSmall Business Tax And Accounting Updates: Ending 2022
Article: Small Business Tax and Accounting Updates: Ending 2022 Category: 1040 income tax, IRS, Small Business Small Business Tax and Accounting Updates: Ending 2022 Jessica I. Marschall, CPA Tax Season 2022 is just around the corner. Our firm put together the most important and prevalent tax and accounting issues pertaining to small businesses. We have […]
Read MoreTax Notes From 2022 Tax Season
Article:Tax Notes from 2022 Tax Season Category: 1040 income tax, IRS, Small Business Jessica I. Marschall, CPA April 21st, 2023 The bulk of tax season 2022 is over. As a group, CPAs are exhaling and questioning our career choices. As a group, we are fading fast. The AICPA estimates that 75% of CPAs will retire […]
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