Avoid the Crushing Penalties for Failing to File FICA

by Breoncpa | Jan 23, 2020 | Accounting

If you are a small business owner, one of your most onerous tasks is managing payroll. If you have the resources, it pays to outsource the work. But if it falls on you, it’s imperative that you comply with IRS requirements to the letter. Any fudging, any delays, and...

Mark These Deadlines on Your Q1 Tax Calendar

by Breoncpa | Jan 21, 2020 | Accounting

The first quarter of any year is loaded with tax deadlines that come fast and furious. For business owners, there are various reporting deadlines as well as dates for tax payments. If you are late, you face penalties that will seriously cut into your bottom line and...

What Small Business Owners Need to Know About 1099-MISC Reporting Requirements

by Breoncpa | Jan 2, 2020 | Accounting

If your small business works with independent contractors, you may be required to report the amounts you paid last year by the end of the first month of the New Year. This reporting is done by sending 1099-MISC forms to nonemployee workers and filing copies with the...

Two Business Benefits of Holiday Parties and Gifts

by Breoncpa | Dec 30, 2019 | Accounting

The holiday season is underway, so you’ve probably made plans for your company already. But, if you are still on the fence, here are a couple of facts to consider: Christmas is a season, not a day. Depending on how a person observes the holiday, it can last up until...

Are Online Fraud Guides Helping Criminals Hack Your Data?

by Breoncpa | Oct 15, 2019 | Accounting

Fraud guides are supposed to protect potential victims by alerting them to common schemes and instructing them on measures they should take to protect themselves. But in the upside-down, inside-out world that is the Internet, “dark web” sites provide information,...

Can Your Company Be Taxed on Goods and Services You Barter For?

by Breoncpa | Oct 11, 2019 | Accounting

Not every business transaction involves cash, and small businesses often find it beneficial to barter for goods and services instead of paying for them. Small business owners generally find that by bartering, they can get what they want below the market rate and save...