June 14, 2022
The Internal Revenue Service will raise the optional standard mileage rate for the final six months of 2022 to help offset the rise in gas prices nationwide.
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Accounting Archives - Page 4 of 5 - GG Advisors LLC
June 8, 2022
Receiving an audit notice from a state tax authority is one of the worst feelings a small business can have. Unfortunately, as states pursue tax collection, sales and use tax audits have become a standard part of doing business. If your business is undergoing a sales tax audit or is worried about dealing with one in the future, here are four tips to navigate, prepare for, and avoid a sales tax audit.
May 19, 2022
For many businesses, it’s been a minute since they’ve had to account for employee travel expenses. So it might be time for a refresher on which expenses are tax-deductible, which aren’t, and what pandemic-related tax incentives are available.
April 20, 2022
With the global cryptocurrency market surpassing the $3 trillion mark, businesses may want to explore the benefits and risks of crypto for their operations.
March 15, 2022
The IRS continues to work through a backlog of millions of paper-filed returns and correspondence from the 2021 tax filing season. Add staffing challenges and congressional underfunding to the issue, and trying to track down a missing refund or deal with an unexpected tax notice is bound to be frustrating.
February 23, 2022
The new K-2 and K-3 schedules standardize international tax information to partners and flow-through investors while clarifying obligations and standardizing the reporting format.
February 18, 2022
Here are three steps you can take to boost security at your business and keep scammers at bay.
January 28, 2022
The Work Opportunity Tax Credit can provide tax credits to businesses that expand their hiring pool to include qualified groups. Here’s what you need to know.
December 7, 2021
As 2021 comes to a close, it’s essential to take a closer look at your tax and financial plans. This year brought challenges and disruptions that likely impacted your personal and financial situation –– a continued global pandemic, several significant natural disasters, new tax laws, and political shifts.
October 27, 2021
Hiring a nanny for child care can mean tax liabilities you didn’t have before, even if they aren’t a full-time employee. Here’s what you need to know about the nanny tax.