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Author: CG Accounting Group

Best Practices for Managing Your Business Through an Economic Downturn

Best Practices for Managing Your Business Through an Economic Downturn
By far, the most important step that you can take to help protect and manage your business during an economic downturn involves paying more attention …

Tips for Students Planning to Work During the Summer

Tips for Students Planning to Work During the Summer
As the summer break from school approaches, many students are looking for part-time summer employment. Both parents and students should be aware of th…

Do You Understand Tax Lingo?

Do You Understand Tax Lingo?
When discussing taxes, reading tax related articles or interpreting instructions, one needs to understand the lingo and acronyms used by tax professio…

You May Be Able to Donate Your Unused Employee Vacation, Sick, or Personal Leave to Ukrainian Relief

You May Be Able to Donate Your Unused Employee Vacation, Sick, or Personal Leave to Ukrainian Relief
There is a little-known disaster provision of the tax code that, where if an employer has adopted a leave-based donation program, the employees can fo…

Video Tips: How to Distinguish Hobby Vs. Business for Tax Purposes

If you are considering earning money from your hobby, it’s important to understand the tax implications. According to the IRS, any income generated from a hobby must be reported on your tax return, but it is not eligible for deductions like business expenses. So how does the IRS determine if your activity is considered a hobby or a business? Watch this video for a brief overview.

Forgot Something on Your Tax Return? It’s Not Too Late to Amend the Return

Forgot Something on Your Tax Return? It’s Not Too Late to Amend the Return
If you discover that you forgot something on your tax return, you can amend that return after it has been filed. The need to amend can include a numbe…

Is Your Will or Trust Up-to-Date?

Is
When was the last time you or your attorney reviewed or updated your will or trust? If it was some time ago before the passage of substantial tax law …

Understanding What Innocent Spouse Relief Is, and Whether You Need It

Understanding What Innocent Spouse Relief Is, and Whether You Need It
What happens if your spouse turns out to be a tax cheat, and you signed a joint tax return without realizing it. Can you be held responsible? Learn mo…

June 2022 Business Due Dates

June 2022 Business Due Dates
Here are the June 2022 Business Due Dates…

Video Tips: Cash Flow Solution for Seniors

With the increasing inflation rate, senior retirees may have a hard time maintaining a positive cash flow for their living expenses. If you are in such a situation, a reverse mortgage may be a good solution for you. Watch this video to find out if you should consider a reverse mortgage.

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