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Practical guidance on tax, audit defense, bookkeeping, and compliance from our CPA team.
What to Choose Between Reviews and Audits?
A review gives limited assurance through analysis and inquiry; an audit tests transactions for reasonable assurance. How to pick what your lender needs.
Royalty Income: Active vs. Passive & How to Report It
Active royalties go on Schedule C with self-employment tax and full expense deductions; passive ones go on Schedule E. How to tell which you have.
Financial Statement Review
A CPA review sits between a compilation and an audit, giving lenders limited assurance for less. What the engagement covers, and what to expect from it.
FTB Estimated Tax Payments
California's $800 minimum franchise tax: which corporations, LLCs and partnerships owe it, when it is due, and the narrow first-year exemptions.
Cannabis Accounting Made Simple: Optimize Taxes & Cash Flow
Section 280E blocks most cannabis deductions, but Cost of Goods Sold is not a deduction. How dispensaries and cultivators document COGS and hold cash.
Commercial Clean Vehicle Credit
Section 45W has no MSRP or income cap and reaches $40,000 on heavy vehicles. How to stack it with Section 179 and bonus depreciation on a fleet buy.
Federal Excise Tax on Trucks
The 12% federal excise tax on heavy trucks under IRC 4051: weight thresholds, the events that trigger it, and the export and government exemptions.
Filing Business Taxes Early
Five reasons to file business taxes early: organized records, fewer penalties, faster loan approvals, deductions you would miss, and clearer cash flow.
Disaster Tax Extension Made Simple with G&S Guidance
Los Angeles County wildfire and windstorm victims received extended federal deadlines. Which filings qualified, and how to claim a disaster loss.
Tax Filing Tips and Services for a Stress-Free January
January's filing deadlines in one place: estimated payments, W-2s, 1099-NEC and MISC, sales tax, IFTA, and Forms 940 and 941 for every employer.
Filing Beneficial Ownership Information Despite the Injunction?
A court paused Corporate Transparency Act enforcement, then the injunction lifted. Why CPAs advised filing BOI early, and the reinstated deadlines.
Maximize Your Year End Tax Planning with G&S Accountancy
Year-end work that pays: vendor lists and 1099 filings, reconciled financial statements, and the income timing that lowers what you owe in April.
Small Business Wins? Trump’s Tax Plans Unpacked
Proposed corporate rate cuts, restored bonus depreciation and a continued QBI deduction: what the 2024 tax proposals would have meant for small firms.
How Can a Business Owner Legally Avoid Paying Taxes on $ 1Million?
Four legal strategies that cut the tax on a $1 million business year: accelerated deductions, Section 179, bonus depreciation, and retirement plans.
The Benefits of SBA Loans for Small Businesses and G&S Accountancy’s Help
SBA 7(a), 504 and microloan programs compared by size and purpose, plus the financial records and business plan a lender expects before approving one.
Your Complete Guide to PPP Loan Forgiveness Application Issues With G&S Accountancy
PPP forgiveness stuck at your lender? The four causes: processing delays, bad data, silence, and document gaps. What to do about each of them.
Overcome EIDL Loan Hardships with G&S Accountancy
EIDL repayment is straining trucking and other cash-tight businesses. The SBA hardship options that exist, and how to document a request that lands.
ERC Updates: Is Your Business at Risk for Improper Claims?
The IRS moved to recover improperly claimed Employee Retention Credits. How the payback programs worked, and how to evaluate a claim you already filed.
Non Profit Organization Guide to IRS Audit Readiness
IRS audit readiness for nonprofit organizations: the records, controls, and Form 990 practices that make an examination routine, not disruptive.
Navigating the Corporate Transparency Act: Key Facts About BOI Reporting
Who files a BOI report, what counts as 25% ownership or substantial control, the details required, and the deadlines for new and existing entities.
IRS Audit Survival: Is Your NGO Ready for the Public Support Test?
Failing the public support test can reclassify your nonprofit as a private foundation. The one-third threshold, the audit triggers, and how to prepare.
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