Specialty Bookkeepers and Tax

The Tax Bracket Myth

“I don’t want to make an extra $2,000 because that will put me in to the next tax bracket and cost me more.” We hear this same refrain every year around tax time. It seems just as many people believe this tax bracket myth as do people who believe in the Lochness Monster (which is …

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Specialty Bookkeepers and tax

Utah Taxing PPP Relief

It is often said that there is no such thing as a free meal. While the Federal Government tried to give businesses a free lunch, the State of Utah still wants you to leave a tip. In a surprise announcement from of Utah, the state will be treating any forgiveness of the Paycheck Protection Program …

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Specialty Bookkeepers and tax

Cash or Accrual Accounting?

When setting up your business, which method is right for you? Small businesses are required to determine if they will file as a cash or accrual based business when they submit their first taxes.  Deciding if you should elect to be a Cash or Accrual based business may seem like a simple question for the seasoned accountant, …

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corporate income taxes
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