1-800Accountant Blog

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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 […]

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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. […]

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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 […]

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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 […]

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CARES Act: What is the Economic Injury Disaster Loan?

The novel coronavirus pandemic has changed everything. Conditions are changing from day to day, and business owners don’t know if they’ll have customers or if they’ll even be allowed to operate from one week to the next.  In this time of uncertainty, many businesses are at risk of having to fold or let employees go. […]

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CARES Act: What’s in the New Coronavirus Legislation?

After days of tense Congressional debate, several alternative versions, and a contested vote over a previous package, Congress has agreed on and passed an enormous new emergency economic relief bill. The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on Friday, March 27. The bill includes over two trillion dollars in […]

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Tax Deductions: What are They, and How Do They Work?

Out of all the different topics that fall under the umbrella of “taxes”, deductions have to be the most exciting. Most people are aware that deducting things from their taxes means that they get more money back on their refund. Or in the case of businesses, it means lower payments to the IRS each year. […]