Tips

Accounting For Restaurants: A Guide to Setting Your Business up for Success

Operating a restaurant is a dream for many, but there’s much more to it than meets the eye. There are far more restaurants and food-related businesses that fail than succeed, and that’s frequently because entrepreneurs spend more time focusing on front-of-house operations and food preparation than on the business and...

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The Ins and Outs of Bookkeeping: All the Best Practices to Get the Best Financial Outcome From Your

If you had to make a list of some of the most critical elements of running a business that most new entrepreneurs don't think enough about until it's far too late, bookkeeping would undoubtedly be right at the top.On a surface level, bookkeeping is simply the process of keeping accurate,...

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Tax Tips for Holiday Charity Donations

Article Highlights:

Long-Form Itemization Required - Below-the-Line Cash Contributions for 2021 Qualified Charities Only Cash Donations Non-cash Donations Leave Donations Other Qualifying Donations AGI Limitations Year-End Donations

Cash Donations

To claim a charitable deduction, you normally must itemize your deductions. However, for 2021, non-itemizers filing a joint return...

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Tax Benefits Available to Disabled Taxpayers

Article Highlights:

Increased Standard Deduction Tax-Exempt Income Impairment-Related Work Expenses Financially Disabled Earned Income Tax Credit Child or Dependent Care Credit Special Medical Deductions Qualified Medicaid Waiver Payments ABLE AccountsDisabled individuals and parents of disabled children may qualify for several tax credits and other tax benefits. Listed below...

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Do You Need a New IRS Identity Verification?

Article Highlights:

IRS Identity Verification Access to Online Tools and Applications About ID.me How to Create an ID.me AccountIn November of 2021, the Internal Revenue Service launched an improved identity verification and sign-in process that enables more people to securely access and use IRS online tools and applications.Taxpayers...

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