QuickBooks Cash Flow Insights

  Money comes and goes when you have a new business. As a new business owner, it's vital to know where your finances stand. QuickBooks' Cash Flow Insights can help you organize all your accounts in one place so you know where you stand financially at any moment in time. Let us know if you …

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Business Owners can Claim a Qualified Business Income Deduction

The following article was published by the IRS. Eligible taxpayers may now deduct up to 20 percent of certain business income from domestic businesses operated as sole proprietorships or through partnerships, S corporations, trusts, and estates. The deduction may also be claimed on certain dividends. Eligible taxpayers can claim the deduction for the first time …

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For Private Corporations and Their Employees, IRS Provides Initial Guidance on New Tax Benefit for Stock Options and Restricted Stock Units

The following article was published by the IRS. The Internal Revenue Service has offered guidance on a recent tax law change that allows qualified employees of privately-held corporations to defer paying income tax, for up to five years, on the value of qualified stock options and restricted stock units (RSUs) granted to them by their …

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IRS Warns of “Tax Transcript” Email Scam; Dangers to Business Networks

The following article was published by the IRS. The Internal Revenue Service and Security Summit partners are warning the public of a surge of fraudulent emails impersonating the IRS and using tax transcripts as bait to entice users to open documents containing malware. The scam is especially problematic for businesses whose employees might open the …

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Safekeeping Tax Records Helps for Future Filing, Amended Returns, Audits

The following article was published by the IRS. With the tax filing season upon us, the Internal Revenue Service wants taxpayers to understand how long to keep tax returns and other documents. The IRS generally recommends keeping copies of tax returns and supporting documents at least three years. Employment tax records should be kept at …

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