IRS reminder to disaster area taxpayers with extensions: All or parts of 14 states, 2 territories need to file 2023 returns by Feb. 3; others have until May 1 WASHINGTON —The Internal Revenue Service today reminded disaster-area taxpayers who received extensions to file their 2023 returns that, depending upon their location, their returns are due… Read More
In today’s digital world, keeping your personal and financial information safe has never been more important. Tax-related information, in particular, is highly sensitive and can be a target for fraudsters. Whether you’re an individual taxpayer or a business owner, safeguarding your tax information is crucial to prevent identity theft, financial loss, and other threats. Fortunately,… Read More
When tax season rolls around, many business owners find themselves scrambling to pull together financial records and expenses. While taxes are often viewed as a once-a-year obligation, the foundation of accurate tax filing lies in consistent and thorough bookkeeping throughout the year. Here’s why ensuring your bookkeeping is up-to-date before tackling your taxes is not… Read More
Operating a cannabis dispensary is a rewarding yet challenging endeavor. The legal cannabis market is thriving, but the complexities of taxation—including the constraints of IRS Code Section 280E—can make navigating this landscape tricky. To ensure compliance and minimize tax burdens, here are seven essential tax strategies every cannabis dispensary owner should implement. 1. Understand and… Read More