April, 2022 - CGA Accounting Group

Don’t Ignore Household Employee Payroll Tax Rules

Don't Ignore Household Employee Payroll Tax Rules
If you hire a domestic worker to provide services in or around your home, you probably have a tax liability that you don’t know about…

Best Accounting Tips for Auto Repair Shops

Best Accounting Tips for Auto Repair Shops
If you own or manage an auto repair shop, then accounting and bookkeeping are likely pretty low on your list of favorite past times. Learn how to get…

Writing Off Your Business Start-Up Expenses

Writing Off Your Business Start-Up Expenses
Unfortunately, as a result of the COVID pandemic many small firms have gone out of business. However, with the help of vaccines and the waning lethali…

Video Tips: Thinking about Bunching Your Tax Deductions?

Are you a taxpayer whose total of itemized deductions is close to the standard deduction amount for your filing status? If so, “bunching” your tax deduction may be a good choice for you. Watch this video to learn more about tax bunching and how you can do proactive planning to maximize the benefits.

S Corporations Reasonable Compensation Requirement

S Corporations Reasonable Compensation Requirement
Unlike a C corporation, which itself pays the tax on its taxable income, an S corporation does not directly pay taxes on its income; instead, its inco…

Why Proactive Planning is More Important Than You Realize

Why Proactive Planning is More Important Than You Realize
One of the major reasons why planning is so crucial in this context is because it helps avoid one of the single biggest problems that both businesses …

The Ever-Changing Role of Tax and Accounting Professionals in the Modern Era

The Ever-Changing Role of Tax and Accounting Professionals in the Modern Era
Accounting professionals were able to help many organizations avoid things like cash flow emergencies, burnout, and anxiousness. Learn more….

Owe the IRS Money? How Long Do They Have to Collect?

Owe the IRS Money? How Long Do They Have to Collect?
Have you ever wondered how long the IRS has to question and assess additional tax on your tax returns? For most taxpayers who reported all their incom…