Last year brought massive changes to the tax code following the passage of the Tax Cut and Jobs Act in 2017. Several tax breaks were eliminated, the standard deduction was raised, and the corporate tax rate was reduced by 40 percent. While we won’t see the major changes to how 2019 personal and business taxes […]
Learn the difference between combined financial statements and consolidated financial statements and which ones you may need for your business!
Accounting can be difficult to understand if you don’t have a formal education in the field, especially when it comes to audits. Often times transaction audits and internal audits are used interchangeably, but they are actually two completely different things. Our team of trained professionals at C.E. Thorn, CPA, PLLC will help educate you on […]
Ridesharing services have become an increasingly popular means of transportation for many. Learn if you can deduct these expenses off of your taxes.
After many changes were made with the 2018 Tax Reform, many people ask if they are still able to deduct their tax prep fees. In this blog, we discuss whether or not you are able to deduct these fees.
Summer is coming to a close, and the school year is quickly approaching. While teachers are excitedly awaiting the return of their students to the classroom, there are a few things that can cause anxiety. One of these things is having to spend money out of pocket to ensure their students have the best tools […]
It’s the hottest time of the year, and we’re all looking forward to our vacations! While tax season is still months away, it is important to keep taxes a top priority as you move forward with the year. Here are a couple of tips for taxes in the summer. Summer Jobs If you are a […]
If you’re a small business owner, you’ve probably thought about expanding your business at some point. For many business owners, that means going from a sole proprietorship to an LLC, which is a big undertaking. You don’t have to figure everything out on your own, though. A small business accountant can provide services beyond bookkeeping […]
Leaving your finances to someone requires trust. However, professional tax assistance is the best choice for business owners.
If you are self-employed, either as a small business owner or independent contractor, you are required to pay quarterly estimated taxes. Learn more about them in this article.