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Estimated Tax Payments – Do They Apply to You?

There are two ways to make income tax payments to the IRS throughout the year: through the withholding amount on your paycheck, and through making estimated tax payments. If you have ever wondered about estimated tax payments, this article will explain what they are, if you need to make them, and how to make them if they are required for your tax situation. Although you may never have had to worry about them before, a change in your income/situation may put you in a position of needing to make Read more [...]
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Cool Tech Tools: ClickUp™

ClickUp™ is a versatile new web application that serves multiple functions for a small business. It’s primarily a CRM – customer relationship management – with project management and workflow features built in, and is adaptable across several industries. ClickUp’s goal for its users is to save time and reduce redundancy by tying everything together in one app. Its integrations, which are called ClickApps, are truly its strength. The 1,000+ integrations set ClickUp apart from other offerings, Read more [...]
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Do You Have a Bank Account in a Country Outside of the United States?

If you have a bank account in a foreign country, you may need to disclose it to a branch of the government that fights financial crimes. This is what tax professionals call FBAR reporting. FBAR stands for Foreign Bank and Financial Accounts Report. Your foreign bank accounts may also impact your tax returns. Let’s take a look at this requirement. FinCEN and FBAR The Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Department of the Treasury that collects and analyzes Read more [...]
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Is Your Best Skill Aligned with Your Business Model?

When starting a business, most entrepreneurs excel at the specific technical skill set they need in order to deliver their services and products to clients.  For example, if you own a bike shop, you are pretty great at all things related to bikes. If you own a law firm, you are probably good at practicing law. This skill is your core skill. As your business grows, you need different skills beyond your core skill in order to thrive. That skill depends on the type of business model you want to Read more [...]
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Where’s My IRS Refund?

Did you know the IRS provides a tool on their website that allows taxpayers to check their refund status? The good news is you don’t have to rely on your tax professional to access this information; you can access it directly yourself. Here’s the direct link: https://sa.www4.irs.gov/irfof/lang/en/irfofgetstatus.jsp How do I get started?  The “Where’s My Refund” tool can provide refund information for the three most current tax years. You’ll need the following information in Read more [...]