New QuickBooks Online Payroll subscriptions now require automated tax filings. Before relying on the feature, it’s important to understand how it affects your payroll process.
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The Child and Dependent Care Tax Credit helps working families offset the cost of qualifying care expenses. Child and dependent care costs can take a big bite out of your budget. To help ease the load, the IRS offers a tax credit for qualifying care expenses incurred while you (or your spouse, if filing jointly) are working or looking for work.
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Small-business owners should recognize this sometimes-overlooked fact: Success often relies less on acquiring new funding and more on wisely utilizing existing resources. In other words, growth for its own sake isn't always good business. By monitoring expenses, reevaluating pricing, and analyzing which products or services truly deliver value, you can grow your small business strategically.
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The IRS retirement plan changes for 2026 include higher contribution limits and updated income phase-out ranges for IRAs and workplace retirement plans. The Internal Revenue Service has issued a release explaining changes in retirement plan limits for 2026. The provisions can be complex, so current and prospective plan participants should work with a financial professional.
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Many taxpayers lose valuable charitable deductions each year because they don’t meet IRS documentation requirements. Understanding the charitable contribution written acknowledgment rules is essential before filing your return.
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Running a nonprofit is hard work. It also can be rewarding. So it is important to understand the benefits, such as tax-exempt status, when you’re preparing to launch a community, charity, or nonprofit organization. Establishing a tax-exempt nonprofit isn’t easy, and you may be wondering how aspects of these tax rules apply to your nonprofit. A lot of moving parts need to be handled, and they are best handled by professionals.
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Many businesses have experienced fraud first-hand. Those who survived the theft are quick to implement accounting controls. Weak controls allow fraud to penetrate and persist in companies undetected for years. By using some of the tools in QuickBooks and implementing the appropriate controls around cash, your business has a better chance of success.
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Due diligence is an investigation, audit, or review performed to confirm the accuracy of financial records and appraise value. When combined with outsourced accounting services, due diligence becomes an ongoing strategic advantage rather than a one-time event.
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The Illinois Tax Delinquency Amnesty Act allows eligible taxpayers to pay outstanding state tax liabilities and receive a waiver of certain penalties and interest during the amnesty period.
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Welcome to the October Tax & Accounting Edition of the Siepert Newsletter!
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