by Philip Titlestad | May 27, 2020 | General
COVID-19 Loans Many small businesses have taken advantage of the COVID-19 related loans from their banks and or the SBA( Small Business Administration). These have been termed the PPP(Paycheck Protection Program) loans or the EIL( Economic Injury ) loans. The CARES...
by Philip Titlestad | Oct 30, 2018 | Uncategorized
Tax planning for Business year end We are approaching the end of the fiscal year for many business clients and all personal clients. This is a good time to ask your tax professional for help in making some important decisions. Here are some tax saving ideas: If you...
by Philip Titlestad | Jul 19, 2018 | Uncategorized
New for tax year 2018 (TCJA) the QBID allows sole proprietors and individual owners of pass through entities such as S corps, Partnerships and LLC’s to deduct 20% of their qualified business income up to 20% of their ordinary taxable income. This is a boon for small...
by Philip Titlestad | Aug 23, 2017 | General
Quickbooks Proadvisor Quickbooks desktop or online is a very convenient, efficient and cost effective way to keep track of all your business transactions. The online version is particularly user friendly and allows the business owner to invite an external accountant...
by Philip Titlestad | Jun 21, 2015 | General
What number on your income statement is the most important to be accurate after your top line sales? Undoubtedly this is your gross margin dollars and as a percentage of top line revenue because this determines the level of overhead that the business can support...
by Philip Titlestad | Apr 21, 2015 | General
Capital Expenditures – De Minimis Safe Harbor Election (Reg. 1.263(a)-1(f);-1(g);-1(h)) The IRS has issued Final Regulation 1.263(a)-1(f) providing a de minimis safe harbor election for amounts paid to acquire or produce tangible property. In the case of a taxpayer...
