SEED Business

05/01/2021

04/19/2021

“When should I start working with a CPA?”

Many business owners think their business needs to be at some magical number before they’re “worthy” of meeting with a CPA.

If that is you, PLEASE change that mindset right now as it could be costing you thousands of dollars!

You should start working with a CPA before you start your business.

There is so much that can be done upfront, in terms of entity setup, accounting systems, and more that will help your business start off on the right foot.

Don’t wait until you’re five years in and suddenly haven’t filed your returns that entire time or have thrown away thousands from not tax planning.

You’re never too small to meet with a CPA.

If you’re years into operating your business and still have never gotten the financial side of it in order, it’s never too late.

03/24/2021

Your weekend getaway can be a deductible.

The strategy is called “wrapping a weekend.”

The IRS states that if you travel for business and work both Friday AND the following Monday, then the Saturday and Sunday in between count as business days.

So your hotel and all your meals are deductible for the weekend.

Unfortunately, activities are no longer deductible, but tax-deductible hotels and meals give you a discount on your taxes. Remember to document your activities on both Friday and Monday so you have the proper records!

03/22/2021

If you have not received your refund, it is because tax returns have been caught in a processing backlog.

The IRS hopes that the backlog would be cleared by the Summer.

03/18/2021

Whew! Won't he do it! The IRS has announced extending the tax deadline until May 17.

03/17/2021

"The IRS strongly urges taxpayers to not file amended returns related to the new legislative provisions or take other unnecessary steps at this time."

03/16/2021

Check out our co-founder Ensa Huger . She will be speaking about "Funding for small business" on March 31.

Register at www.quickbooksconnect.com

03/09/2021

Greetings from your friends at SEED/TaxBar Atlanta,
2020 was not an ordinary year. And this tax season is no different.

The Covid-19 pandemic and the resulting government relief (PPP, stimulus checks, etc.) have created unprecedented tax implications. In an official letter to the IRS, the American Institute of Certified Public Accountants (AICPA), urged the department to extend the filing deadline to June 15th. The Vice President of the AICPA deemed meeting the April 15th deadline as “not possible for many taxpayers and their tax advisors.”

Although we do not know if this deadline will be extended, we are working diligently to file your tax returns in a timely manner given the circumstances. We recommend that you request an extension if you have any concerns about the deadline. Please use the link below to submit your extension request for us to file.
If you choose to file an extension, please note that this is only an extension of the tax filing and not the tax payment. You can pay part or all of your estimated tax payment.

We will keep you updated about any changes that will impact this tax season. Thank you again for working with us.