News & Advice

If a business fails to file its taxes for one year, there can be several consequences depending on the circumstances... Penalties and Interest - The IRS imposes penalties for failure to file…

No, businesses do not always owe taxes. Whether a business owes taxes depends on various factors, including its profitability, tax deductions, credits, and other tax planning strategies. Here are some scenarios in…

Doing your own business taxes can be challenging, especially if you're unfamiliar with tax laws and regulations or if your business has complex financial transactions. Here are some factors to consider when…

Taxes can pose challenges for small businesses, but whether they "hurt" them depends on various factors, including the business's financial situation, tax planning strategies, and compliance efforts. Here's a nuanced perspective on…

When you start a business, you need to understand how taxes work to ensure compliance with tax laws and regulations. Here's an overview of the key aspects of taxes for new businesses...…