by PSA CPA | Dec 1, 2024 |
Imagine you’re a business owner looking to purchase a dependable, heavy-duty vehicle for your company—perhaps a large truck or SUV. At the same time, you’re concerned about managing your business taxes effectively. Here’s the good news: the IRS Section 179 deduction...
by PSA CPA | Dec 1, 2024 |
Filing taxes is a fundamental responsibility for small business owners, one that demands thoughtful preparation to minimize liabilities and stay compliant. While owners focus on optimizing their tax savings through deductions, credits, and strategic financial...
by PSA CPA | Dec 1, 2024 |
On December 3, 2024, a federal court in Texas issued a nationwide injunction blocking the enforcement of the Corporate Transparency Act (CTA). The ruling came from the Eastern District of Texas in the case Texas Top Cop Shop, Inc., et al. v. Garland, et al. (Case No....
by PSA CPA | Sep 1, 2024 |
What Are Income Statements? Income statements, often referred to as profit and loss (P&L) statements, are financial reports that summarize an entity’s performance over a set time period. These documents are crucial for businesses and individuals alike,...
by PSA CPA | Sep 1, 2024 |
There are several types of common tax write-offs that can help lower your taxable income. Here’s a look at some of the most frequently claimed deductions: 1. Business Expenses: A primary category of tax write-offs, qualifying business expenses include costs like...
by PSA CPA | Aug 1, 2024 |
This summer, taxes are most likely the last thing on your mind, but bear with us! In fact, the summer is a great time to do a mid-year financial review and evaluate your tax status. Here are some summer tax decisions you can make to save yourself some money come tax...
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