Self-Employment Tax vs Income Tax
Reading Time: 3 minutesSelf Employment Tax Vs Income Tax
March 21, 2023
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All of the information you need, right here, right now.
Reading Time: 3 minutesSelf Employment Tax Vs Income Tax
Reading Time: 3 minutesIf you are a business owner, then you have to pay your employees. This means that you have to worry about payroll taxes. These taxes
Reading Time: 3 minutesAn important note: depending on the type of extension you are looking to file, you may need to submit additional forms. We highly recommend speaking
Reading Time: 5 minutesThe IRS received over $4.1 trillion in tax revenue in 2021. If you don’t pay the full amount owed on your taxes, you will be
Reading Time: 4 minutesAny improvement that significantly increases the value of your home and extends its useful life is considered a home improvement. If you tear down your
Reading Time: 4 minutesThe IRS has millions of tax refunds to process, which is why it could take longer than expected to get your refund. The IRS usually
Reading Time: 4 minutesA CPA provides expertise in the financial industry. Businesses often hire them to manage tax planning, financial forecasting, and defending any issues in front of
Reading Time: 3 minutesThe short explanation lies in the statement all CPAs are accountants, but not all accountants are CPAs. While it’s easy to get the two confused,
Reading Time: 5 minutesIf you don’t file your taxes on time, you will be liable to pay penalties in addition to the taxes you owe. This statement may
Reading Time: 4 minutesEach tax season, many business owners and individuals discover they owe the IRS late filing penalties and/or late payment penalties. But, more often than not,
Reading Time: 5 minutesFiling your tax returns can be a very overwhelming process. The situation can add to the complexity when you file an extension for your tax
Reading Time: 3 minutesWith inflation going up, people get pushed into higher income tax brackets as well. To regulate the impact of inflation, the income tax bracket gets
Reading Time: 3 minutesAs the new year is approaching, the deadline to file your tax for 2023 is near. It is estimated that the IRS starts accepting tax
Reading Time: 7 minutesEvery year thousands of Canadian move to the U.S. for work, personal, and business purposes. Unlike the U.S., Canada has unique rules for filing a
Reading Time: 4 minutesWith the right tax strategy, your business can avoid paying a sizable sum of taxes to the government. Companies that heavily invest their thought processes
Reading Time: 6 minutesWith the year coming to a close, interest rates shifting, and layoffs hitting the tech industry, the turn into 2023 is proving uncertain as ever.
Reading Time: 4 minutesThe month of September is over, which means that the fourth quarter of 2022 has begun. How well have you done this year? It is
Reading Time: 6 minutesIdentify your business goals for the coming year, create a financial forecast, build a budget, and make an effective tax strategy
Reading Time: 3 minutesForeign bank account reporting with IRS Form 8938, FinCEN114, 8621, 3520/3520A, 5471
Reading Time: 7 minutesLearn the difference between annual tax payments and quarterly 1040-E estimated taxes, and cases in which you should file each way
Reading Time: 7 minutesIf you’re spending too much time on accounting, your payroll and entries are delayed, and you’re not tax planning, it’s probably time to outsource your accounting
Our CPAs build an accounting process that is modern, efficient, and has the reporting capabilities you need.
Regular reports ensure you get the oversight you need to be comfortable, without being involved in the day-to-day.
Easily submit any documents remotely through our secure online portal, and we’ll take it from there.
We believe in building strong, long-term client relationships, holding ourselves to a high standard of accountability when it comes to client work, providing excellent communication, and receiving ongoing feedback from our clients.
With unparalleled guidance, cost-saving entity structures, and forecasting built on experience, you’ll get the benefit of CPAs that know the ins and outs of how your industry works.
Get 360° accounting services that offer full support and coverage of every aspect of your business.
We offer everything from granular, data-entry support to high level accounting strategy. Don’t see the service you need listed? Just ask!
Maintain a complete picture of your transaction history and financial health. Our team adheres to strict accounting standards, ensuring accurate and up-to-date books with a financial trail that is straightforward and easy to follow.
Our bookkeeping and accounting reports offer a detailed and accurate look at the complete financial health of your business. From regular reports to real-time insights, our approach to accounting is always data-driven
Unlock the full power of your accounting software with a fully-integrated software setup. Ensure regular and easy instant-generated reports with unquestionable accuracy in every line item
Regular tracking and management combined with inventory audits, evaluations, and reports help you optimize your inventory levels, track performance, and make critical decisions
Get paid on time and stay up to date with vendor payment with invoicing services focused on accuracy, timeliness, and strategy. Our team implements tools and approaches that ensure accounts payable and accounts receivable are in good health
Payroll services from the top down means your business gets the labor reports it needs while your employees and contractors are paid on time. Our team follows regulations and focuses on accuracy, offering well-rounded payroll services to the highest standard.
Get 360° accounting services that offer full support and coverage of every aspect of your business.
We offer everything from granular, data-entry support to high level accounting strategy. Don’t see the service you need listed? Just ask!
For assistance in planning and transferring your U.S. assets to Canada, please contact our colleague Phil Hogan, CPA, CA, CPA at (250) 661-9417 or phil@philhogan.com