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Your Bookkeeper Is Costing You a Bundle

Retailers, car wash businesses, and other companies are paying too much to their bookkeepers. A smarter way forward is outsourcing full accounting functions to a trusted provider.

The Best Small Businesses are in the Cloud

If you’re running your small business’ accounting functions on a desktop, you’re running out of time. Cloud-based accounting solutions offer better scalability, as well as real-time visibility, and other features that give your business room to grow.

Tax Newsletter: April 2021

BST's tax newsletter. In this issue: Which Start-Up Costs Are Deductible for Federal Tax Purposes, Employee Retention Credit: New Angles for Nonprofits, Tax Breaks for Green Manufacturers Are Expanded, PPP Application Deadline Extended in New Law, COVID-19 Relief: Overview of the New American Rescue Plan Act, and Employees Now Enjoy Even Greater Flexibility with FSAs.

Why You Need Fractional Accounting

With fractional accounting, businesses pay only for the services they need from experienced finance professionals, which can help businesses reduce costs, scale with ease, and remain focused on core competencies.

PPP Application Deadline Extended in New Law

On March 30, 2021, President Biden signed legislation to extend the application period of the popular Paycheck Protection Program (PPP) through May 31, 2021. This followed a bipartisan 92-7 vote in the U.S. Senate to pass the Paycheck Protection Program Extension Act of 2021.

Which Start-Up Costs Are Deductible for Federal Tax Purposes?

Many people started businesses in 2020, and many others plan to launch new ventures in 2021. Entrepreneurs often have questions about whether business expenses for a start-up can be deducted in the year they're incurred or paid — or whether they must be capitalized and deducted over time. Here's some guidance.

Bob Canterbury Provides Financial Guidance to Callers on WAMC’s Vox Pop

Senior Wealth Advisor, Bob Canterbury, provides financial guidance to callers on WAMC’s Vox Pop. Listen in as he covers topics like the American Rescue Plan – $1.9 trillion Stimulus Package, tax filing deadline extended to May 17th, the New $3 Trillion Biden Proposal, Game Stop, and Bitcoin.

Postponement of 2020 Individual Tax Return Deadline

The Internal Revenue Service and the New York State Department of Taxation and Finance have announced that the individual income tax filing deadline for 2020 tax returns is automatically postponed from April 15, 2021, to Monday, May 17, 2021.

Get Rid of Tax Season Struggles

Every hour businesses spend doing taxes is an hour not spent moving the business forward. Outsourcing accounting and tax preparation can end the tax season scramble and help businesses save money, reduce errors, and devote more time to business-forward initiatives.

CAA Offers Tax Breaks for Manufacturers

The Consolidated Appropriations Act (CAA) — the massive spending package passed in December 2020 — includes many provisions designed to help small businesses that have been struggling during the COVID-19 pandemic. Specifically, the new law contains the following seven tax-related provisions that may be of particular interest to manufacturers.

Paycheck Protection Program Second Draw Loans – What You Need to Know

While we all celebrated the end of 2020 with renewed hope for what 2021 will bring, it is clear that at least the beginning of this year still has its challenges for many. Fortunately, The Economic Aid Act provides for a second stimulus program for businesses, not for profits and other types of organizations.

COVID-19 Relief Act opens back door to Employee Retention Credit (ERC) and loan forgiveness under the PPP

In the recent COVID-19 Relief Act the government provided an opportunity for businesses to retroactively qualify for certain employee retention credits (“ERC”) even if they utilized the PPP loan program.