Richard J. Cordes, CPA, JD, LLM

01/04/2023

The tax year is the actual year where you earn income, pay income taxes, make charitable contributions, work side gigs, etc. The tax season is when you file, report and pay any taxes owed from the last year.

So, during the 2023 tax season, you file taxes for the 2022 tax year. Got it? Keep that in mind whenever we’re talking about the tax season or tax year. It’s important!

01/03/2023

Are you eligible for the Retirement Savings Contributions Credit ?
https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-savings-contributions-savers-credit

01/02/2023

What is the difference between Bookkeeping and Accounting?

Bookkeeping is the practice of organizing, classifying and maintaining a business's financial records. It involves recording transactions and storing financial documentation to manage the overall financial health of an organization. Most businesses use an electronic method for their bookkeeping, whe

12/30/2022

When searching for a business consulting firm to help you achieve your goals, there are multiple factors to consider. Read more below:

Many businesses seek out professional consulting firms for their specialized knowledge and access to digital solutions. While some entrepreneurs are independent risk-takers, it's impossible to know everything there is to know about growing a business. Sometimes, it's wise to seek help from people wi...

12/29/2022

What are your chances of an audit?

What makes your return a target for an IRS audit? Math mistakes, missing income and questionable deductions are some big ones. See the rest here.

12/28/2022

Do you know what the differences are between a bookkeeper and accountant?

Bookkeepers are often involved in a business's day-to-day operations, while accountants take a higher-level view.

12/27/2022

Why you may want to consider a hybrid workplace:

A hybrid workplace may give small businesses an advantage when it comes to recruiting new talent and retaining employees.

12/26/2022

Did you know that even if you have no other qualifying deductions or tax credits, the IRS lets you take the standard deduction on a no-questions-asked basis. The standard deduction reduces the amount of income you have to pay taxes on.

In 2022 the standard deduction is $12,950 for singles, $25,900 for joint filers, and $19,400 for heads of household. Here's how it works and when to take it.

12/23/2022

Below, we have rounded up the top business tax deductions that business owners should be aware of. But first, let’s understand what business tax deductions are.

Running a business is a lot of work. From overseeing day-to-day business operations to hiring employees, attracting new customers, and directing long-term strategy, business owners have a lot on their plates. Accounting and taxes are among the most demanding functions that business leaders must mana...

12/22/2022

The key benefits of considering a trust are included in this article, read more below:

Basic estate planning typically begins with a will, which outlines important decisions like who will inherit your property and care for minor dependents after you pass away. However, wills are not always the most efficient option to organize your estate, considering the legal proceedings that must h...

12/21/2022

Planning your taxes carefully before the year ends can help you better prepare for filing. There are many strategies you can take to help improve your financial wellbeing. Read the article below to learn more about the steps you can take to have a great tax filing season - and contact us with any questions regarding your tax services!

https://bit.ly/3uuxVW5

A few last-minute moves — like tax-loss harvesting and boosting contributions to your retirement plan — could make a big difference come April.

12/19/2022

An important step in getting ready for tax filing season is taking a look at your recordkeeping. For tips on how to organize your records, see these tips from the : http://ow.ly/uFCr50LQhxk