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

In order to make decisions, manufacturing managers need to be as informed as possible. Managerial accounting services equip managers with the tools they need to evaluate their operations and make necessary adjustments.

With tax season behind us, it’s a good time to review how your business maintains its books. The two major methods of small business accounting (cash and accrual) each have specific advantages and disadvantages that could have a financial impact on your company.

IRS scams can be devastating to your business. Con artists can drain your bank account, steal your identity or worse. Thankfully, these pesky tax scams are also avoidable, if you learn the warning signs and remain vigilant.

Although S corporations do not pay corporate income tax, there are still many financial pitfalls you should avoid around tax time. If you can escape making these five S corp taxes mistakes, it could save you money and protect your tax status.

Even though they don’t pay direct taxes, the IRS keeps a watchful eye over nonprofits, too. Charities and other similar organizations are required to file a Form 990, which details their financial activities.

Captive insurance, which dates back to the 1950s, is far from being a household name. But, many groups and associations will attest that it is an effective way to reduce costs, insure difficult risks, increase cash flow and gain other benefits not readily available in traditional coverage.

With so many rules and regulations, small business owners spend a lot of time each year on tax preparation. But, still many feel as though they have left money on the table.

If you are determined to maximize your tax refund this year, try using these quick tax planning tips.

Businesses, be aware there is an earlier W-2 tax deadline this year. Instead of the end of February, the IRS has established January 31, 2017 as the new deadline to submit employees’ annual wages and taxes withheld.

Since small businesses are what drives the economy, the government has created initiatives to help them grow, like small business tax deductions.

While these incentives offer savings, there are few things to know before starting tax planning.

When businesses search for an accounting firm they choose one that has the right combination of experience and expertise to fit their needs. Potential clients often have little experience with judging the strength of a firm’s leadership. For example, many do not have a good understanding of what is a managing partner, or why they could benefit from their service.