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How to Prepare Your Business For This Tax Season

Jan 7, 2021 10:00:00 AM / by CSI Accounting Staff posted in small business taxes, small business bookkeeping, small business accounting

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Hello, 2021! With tax season just around the corner, it's time to start getting ready to file. Are all of your forms prepared?

Tax season can mean extra stress for your business. Luckily, putting in a little effort ahead of time can save a lot of time come tax season. The following article will help get you through it!

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End of Year: Tax Law Changes

Dec 10, 2020 8:15:00 AM / by CSI Accounting Staff posted in small business taxes, small business bookkeeping, small business accounting

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Brian Paulson, the owner of CSI Accounting & Payroll, has put together some end-of-year planning tips.

He writes, "Everything we do is focused on the core belief that we succeed in life by helping others succeed. This letter is one complimentary piece of our intense planning and research effort throughout the year to help in your success. Feel free to share it with anyone you know who could benefit."

This section covers tax law changes in 2020. Tax laws are subject to change, of course, but this year has presented several transformations.

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End of Year: IRS Changes Due to COVID-19

Nov 25, 2020 10:07:24 AM / by CSI Accounting Staff posted in small business taxes, small business payroll, small business bookkeeping, small business accounting

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Brian Paulson, the owner of CSI Accounting & Payroll, has put together some end-of-year planning tips.

He writes, "Everything we do is focused on the core belief that we succeed in life by helping others succeed. This letter is one complimentary piece of our intense planning and research effort throughout the year to help in your success. Feel free to share it with anyone you know who could benefit."

This section covers a unique topic: changes in the IRS due to COVID-19. Pandemics definitely don't happen every day, but they can result in massive government changes.

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Families First Coronavirus Response Act - What We Know So Far

Mar 20, 2020 2:22:58 PM / by CSI Accounting Staff posted in small business taxes, small business payroll, small business operations

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The Families First Coronavirus Response Act was signed into law on March 18, 2020.

In the coming days and weeks, federal regulatory agencies, including the Department of Labor (DOL) and Health and Human Services (HHS), will provide guidance on how to execute or implement the new requirements. In the meantime, employers and advisors must rely on a good faith interpretation of the act’s text.

We are sharing everything we know below and will not be able to answer follow up questions about the act until agency guidance has been released, which will take some time. We will update the HR Support Center when we have more information, and we encourage you to check there.

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The Best Defense is a Good Offense: Getting the Jump on Next Year's Taxes

Jul 9, 2019 10:11:00 AM / by CSI Accounting Staff posted in small business taxes, small business accounting, small business operations

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Taxes are an ever-changing landscape, and with the 2017 Tax Cuts and Jobs Act finally taking effect this year, there’s actually never been a better time to find an accountant that you can trust.

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Taxes 103: Employee Expenses That Are No Longer Deductible

Jul 2, 2019 9:12:00 AM / by CSI Accounting Staff posted in small business taxes, small business operations

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The Tax Cut and Jobs Act really changed how deductions work. It's important to know how much those changes will affect you and your business. Here's another way taxes have changed recently:

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Taxes 102: Entertainment Deductions

Jun 25, 2019 9:47:00 AM / by CSI Accounting Staff posted in small business taxes, small business bookkeeping, small business operations

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The Tax Cut and Jobs Act really changed how deductions work. It's important to know how much those changes will affect you and your business. Here's another way taxes have changed recently:

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Taxes 101: Interest Deductions Are Down for Medium-Sized Businesses

Jun 18, 2019 10:18:00 AM / by CSI Accounting Staff posted in small business taxes, small business operations

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Unless you’ve been sleeping under a rock the last year, you probably know that the Tax Cut and Jobs Act really changed how deductions work. Here’s the thing, if you’ve yet to file your 2018 taxes, you might not realize just how much those changes will affect you and your business this year.

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The Truth About Tax Prep Software and Your Business

May 7, 2019 10:45:00 AM / by CSI Accounting Staff posted in small business taxes, small business bookkeeping, small business accounting

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Every year, as business owners enter into the final stretch of tax season, tons of people and small businesses scramble to make sense of their financial statements, figuring out their own deductions, and struggling with some “free” tax prep software. Maybe you have just gone through that this year. 

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How the Government Shut Down Affects Tax Season For You

Jan 9, 2019 10:28:32 AM / by CSI Accounting Staff posted in small business taxes, small business accounting, small business operations

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The current government shutdown is affecting all kinds of nationally funded programs, but nowhere is it more evident than how it has shaped tax season this year. Already different because of the passage of the Tax Cut and Jobs Act, the real monkey wrench comes from the fact that 800,000 federal workers in nine different departments aren’t able to work. These departments include Agriculture, Commerce, Justice, Homeland Security, Housing and Urban Development, Interior, State, Transportation, and Treasury .

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