1-800Accountant Blog


9 Things Small Business Owners Forget to Claim on Their Taxes

Running a small business and keeping it afloat is challenging and stressful at the best of times. It’s exciting, but part of the excitement is that so many small businesses only barely stay afloat. Every small business owner knows that when your budget is so tight, and your margins don’t leave you much space for […]


6 Tricks to Choosing the Best Entity for Your Small Business

One of the most critical parts of choosing your business is choosing a business entity. When you select a business entity, you’ll have to follow its requirements. However, there are tricks and things to know that can ease the process. What is a Business Entity? A business entity is an organization formed to operate a […]


How to Prepare and File Your Small Business Tax Return

How Do Small Businesses Prepare Taxes? The process of tax preparation is generally the same for each small business type. You’ll need to determine which forms from the IRS you’ll need to file, be aware of the deadlines for your business type, gather your business expenses and income, and send any information that you’ll need. […]


CARES Act: What are the 2020 Recovery Rebates?

When Congress passed the CARES Act (Coronavirus Relief, Aid, and Economic Security), it signaled a landmark piece of legislation that provides over $2 trillion in aid in response to COVID-19. The CARES Act allows businesses and individuals to receive stimulus in the forms of tax incentives, credits, deductions, and recovery rebates.  What is a Recovery Rebate? Recovery […]


CARES Act: What is the Employee Retention Tax Credit?

In just a short time, the novel coronavirus pandemic forced people and businesses everywhere to make unprecedented decisions. With lockdowns and social distancing, many people can’t work, and many businesses found themselves cut off from their sources of income.  Suddenly, small business owners started needing to make difficult choices about how to plan for the […]


CARES Act: How to Apply for an Emergency Economic Injury Grant

As the government continues to disperse the funding within the over $2 trillion bill, citizens and employees affected by the COVID-19 pandemic, nonprofits, small businesses, and their employees will reap the benefit. The CARES Act contains a section specifically designated for small business grants and loans. These grants and loans are designed to stimulate the economy […]


CARES Act: How to Apply for the Paycheck Protection Program

Passed nearly two weeks ago, the CARES Act will provide many employees, individuals, and small business owners economic relief. Most of the money in the $2.2 trillion bill is projected to fund hospitals’ nationwide efforts to mitigate COVID-19 pandemic. However, $350 billion of the CARES Act was allocated specifically for small business owners. This will […]