Satty, Levine & Ciacco, CPAs, P.C. Blog

Accounting can be a tricky subject to tackle. When it comes to business accounting, regardless if you manage it or outsource it, it’s important to have a basic accounting understanding so you can be best prepared for your company. Once you understand the basic terminology you can better determine whether you need to outsource your accounting or if you can do it yourself.

We’ve all heard the term, “mergers and acquisitions” before, but what are they? Well, in simple terms, they are when two companies join together to maximize a shareholder’s wealth. Sounds simple enough, but what’s the actual difference between the two? Read on to find out more!

You may want to lower your taxable income and have heard that claiming either a standard deduction or an itemized deduction could help, but you’re not really sure what those are. While paying your taxes may not be your first choice, they don’t have to break the bank once you start filing for deductions. If you need help understanding what the difference is and want to start lowering your taxable income we can help!

After the three-month extension, the day is finally here - Tax Day. While coronavirus has turned many things upside down this year, one facet has stayed consistent – taxes must be paid. Don’t let this be another headache for you with the long list of responsibilities that comes along with it. Follow our checklist to successfully conquer this year’s Tax Day.

Coronavirus brought about a lot of new adjustments that both people and companies had to deal with. With tax season coming in the middle of this pandemic, you may have some questions that need answering. We have compiled some of the most frequently asked questions this tax season.

When filing your taxes, there are two separate returns that you need to fill out, federal and state. While this may seem like double the work for you it’s easier when you have everything organized and understand what you’re doing. Your federal and state tax returns are not the same thing, and here is why that is:

Filing your taxes can be very confusing and complicated to navigate. Now with the coronavirus still around, things can get more complicated. While the tax deadline has been pushed to July 15 to allow citizens more time to file their taxes, you may want to consider hiring a tax accountant. Give yourself one less thing to worry about this tax season and let the experts take over.

The deadline for filing your taxes may have been pushed back until July 15, 2020, but that doesn’t mean it’s no less important to file them as soon as possible. Due to COVID-19, some things are taking longer to process than normal, so making sure you’re filing your taxes soon will be beneficial to you and your IRS tax refund. 

In an effort to provide relief to those affected by the coronavirus, the Small Business Administration (SBA) is accepting applications for Disaster Business Loans. On March 27, 2020 the President signed the CARES Act into law which provides relief funds for both small businesses and American workers. If you are located in a disaster loan region, you are available to sign up for this loan.  

People and businesses all over the country have had to make adjustments to their daily routines due to the coronavirus. The tax deadline date, April 15, is right around the corner, but if you haven’t filed your taxes yet because of everything going on, don’t fret. The Treasury Department has extended the filing date by 90 days in order to give people a little relief from the effects of the coronavirus.