The Internal Revenue Service is giving taxpayers a break if the checks they mailed in to pay their taxes still haven’t been opened up yet and are sitting in the trailers the IRS had to set up during the novel coronavirus pandemic. This spring, as many IRS offices remained shuttered, a backlog of millions of […]
IRS offers reprieve for taxpayer checks caught in backlog of unopened mail Read More »
Restaurants and bars get by on very thin profit margin so it is important to keep proper accounting records to improve their odds of success. Good records and bar accounting can tell you where your business is doing well and where it isn’t but you need an efficient system to record and track all the
Bar & Hotel Accounting: How to Keep Accounting Records for your Hotel or Bar Read More »
On March 3, 2016, Oregon lawmakers passed HB 4146, which increased the state transient lodging tax from 1 to 1.8 percent for four years effective July 1, 2016 and then effective July 1, 2020 reduces the state transient lodging tax from 1.8 to 1.5 percent. The legislation directs 20 percent of the state transient lodging tax
Are you aware of tax deductions and credits your hospitality business may be eligible for? Many hospitality owners tend to focus on the day-to-day operations and dealing with compliance regulations. Tax related matters tend to be postponed until after the end of the year. Now is the time to plan ahead for tax deductions to
Hospitality Industry: 6 Common Tax Deductions Read More »
As the popularity of online travel companies (OTCs) such as Expedia, Travelocity, and Orbitz continues to increase, many municipalities are rewriting or clarifying transient occupancy tax regulations for short-term rentals. This clarification responds to legislation loopholes and ambiguities in the ways OTCs remit taxes. Because the methods OTCs use to deliver services can complicate tax
Legislation Clarifies Transient Occupancy Tax Requirements for Online Travel Companies Read More »
When executing an estate plan it is important to have a team of talented professionals that can help advise you. An estate planning attorney is an expert on the law and can actually prepare the appropriate documents. However, having an accountant on your team that can advise you on tax and other financial issues is
Here’s Why Accountants Are Important in Dealing with Estate Matters Read More »
When they think about working with an accountant, most small business owners think about taxes. But accountants provide a host of more comprehensive and helpful services than just tax preparation. One of the most helpful of these services is financial statement preparation and analysis. Accountants offer three levels of service in the preparation and analysis
Financial Statement Preparation and Analysis from Your CPA Read More »
Consider a scenario where your startup is on its way from idea to formal business. There are many, many things to think about and consider. And one of them may just include that all-important decision of when to bring in outside experts to assist you with some of the operational functions that go into running a business.
10 Reasons You Should Hire a Bookkeeper for Your Startup Read More »
A business valuation is a way to determine the economic value of a company, which could be useful in several situations. For example: You may need to sell the business due to retirement, health, divorce, or for family reasons. You may need debt or equity financing for expansion or due to cash flow problems, in
3 Business Valuation Methods-How to Determine What a Company Is Worth Read More »
It seems that most articles on introductory estate planning cover the basic techniques of estate planning and administration, but fail to discuss how to begin practicing in this field, and what the role of the accountant might be. This article will hopefully provide you with a practical guide to getting involved in estate planning and
The Accountant’s Role in Estate Planning and Administration Read More »
