As 2024 comes to a close, it’s the perfect time for small business owners to take proactive steps to set up a successful financial year-end. Ensuring your financial records are in order not only helps with smooth operations but also prepares your business for growth in the new year. Here are some simple and effective […]
Year-End Financial Checklist for Business Owners Read More »
Identity Protection PIN Information An Identity Protection PIN (IP PIN) is a six-digit number from the IRS that provides extra protection against tax identity theft. If you, your spouse or dependent(s) have received one of these or you needed one to file your tax return last year, you can expect to receive a new one
Important Info and Upcoming Due Dates 2024-2025 Read More »
K1s, officially known as Schedule K-1 forms, play a crucial role in the realm of taxation for certain types of businesses and investments. Understanding K1s is vital for stakeholders in partnerships, S corporations, trusts, and estates. This guide will provide a clear, concise overview of what K1s are and why they matter. Understanding K1s Schedule
With Republican Donald Trump’s recent victory in the 2024 U.S. Presidential Election, significant changes to U.S. tax policy could be on the horizon. As the 47th President of the United States, Trump’s return to the White House signals a possible continuation and expansion of tax reforms initiated during his first term, notably the Tax Cuts
Post-Election Tax Update: What Happens Now? Read More »
If you’ve recently come across the Corporate Activity Tax (CAT) on your invoice, you may be wondering what it is and why it’s there. Well, fear not– we’re here to help clarify that. What is the Corporate Activity Tax (CAT)? The Corporate Activity Tax, commonly known as CAT, is a tax levied on business activities
What is the Corporate Activity Tax (CAT) And Why Is It On My Invoice? Read More »
In today’s fast-paced business environment, efficient financial management is essential and QuickBooks Online (QBO) offers streamlined accounting processes. However, transitioning to QBO requires precision and expertise to avoid costly consequences. At Anthem, we want to emphasize the importance of consulting with a professional to ensure a seamless conversion or have them handle it for you.
Operating a winery in Oregon comes with unique financial challenges. From managing inventory to navigating complex tax laws, a CPA specializing in wineries, vineyards, and breweries can be a vital asset. Here’s how: Expertise in Industry-Specific Tax Laws Oregon Tax Credits and Incentives A CPA experienced in Winery/Vineyard tax will help identify and apply these
How Can an Oregon Winery Benefit from a Specialized CPA? Read More »
As a small business owner, staying on top of your tax obligations is crucial. Knowing how to make a payment to the IRS (Internal Revenue Service) or the ODR (Oregon Department of Revenue) efficiently can save you time and stress. Here’s a quick guide to help you navigate the process. Making a Payment to the
How Do I Make a Payment to the IRS or ODR? Read More »
Why does BOI Reporting Matter? This new requirement is both significant and broadly applicable to our clients with substantial penalties for non-compliance. We estimate that in our firm’s client base, there are likely between 1000-1500 BOI reporting requirements alone. While the reporting itself is not complex, the specific guideline around this new process is nuanced.
For many, being a farmer is a way of life. It’s in your blood. It’s a connection with the land and the animals you care for. However, sometimes what our gut says is a farmer doesn’t meet the definition for tax purposes. Not all activities people associate with farming create what the IRS considers farm
How to Determine If You’re a Farmer for Tax Purposes Read More »
