James Cha, CPA, CTRS Articles/News, _COVID-19
Updated as of October 23, 2020 IRS to restart sending 500 series balance due notices: The IRS will resume issuing the 500 series balance due notices to taxpayers later in October. These notices were paused on May 9 due to COVID-19. Although the IRS continued to issue most agency notices, the 500 series were suspended […]
James Cha, CPA, CTRS Business Growth, Business Tips, Money Management
One of the best tools to forecast cash requirements is the 13-week cash flow forecast. It can help a business owner predict what their cash balance will be 13 weeks in the future. It helps to answer whether there will be enough cash to cover payroll and bills for a particular week. If you’re having […]
James Cha, CPA, CTRS Business Growth, Business Tips
At the beginning of 2020, you might have thought that developing a business continuity plan was not a top priority. Or maybe you thought it was only for large businesses. Fast forward to today, and a business continuity plan has become an essential staple in business planning. There are more business risks than ever before […]
James Cha, CPA, CTRS Articles/News, Tax, taxes
Did you apply for an extension to file your tax return? The deadline is just around the corner and here is what you need to know. If you filed a request for additional time to file your tax returns, that extension expires on October 15. If you are waiting for a K-1 from a partnership, […]
James Cha, CPA, CTRS Business Tips, Cool Tech Tools
Video creation has gotten so easy that just about anyone can do it. You no longer need professionals. You don’t even need video editing software with the long learning curve and high price tag. All you need is an app and your imagination. There are many reasons to create a video: Web pages that include […]
James Cha, CPA, CTRS Business Tips
Every company should have a strict process to follow when an employee leaves the company, no matter what type of termination it is – voluntary or involuntary. Here’s a checklist you can use to compare to your own process so that you can either confirm you’re on the right track or add some ideas to […]
James Cha, CPA, CTRS Business Tips, Marketing Tips, Newsletter
The purpose of marketing is, in part, about creating relationships with customers and prospects. While traditional advertising is a standard way of letting prospects know more about you, it’s not always the most creative way to connect. To spice up your marketing, let’s explore six unusual ways to connect with customers. 1. Celebrate an obscure […]
James Cha, CPA, CTRS Articles/News, taxes, _COVID-19
With the major revisions made to Form 941, the IRS is in the process of revising Form 941-X for making corrections to the quarterly federal tax return. While the IRS has issued a draft of Form 941-X on July 27, 2020, until such time as that form is released in final form the IRS has […]
James Cha, CPA, CTRS Bookkeeping Tips, Business Tips, Newsletter
Paying bills is never fun, but paying bills you shouldn’t pay in the first place is even worse. There are many risks that can part a small business owner with their hard-earned cash, and here are five to watch out for when it comes to your bill-paying process. 1. Fraudulent invoices Some companies will send […]
James Cha, CPA, CTRS Articles/News, Tax Relief, taxes, _COVID-19
Unemployment compensation is fully taxable and will be added to your gross income. If you received these benefits from the Federal or State government, then they will be taxed on Form 1040 at the ordinary income tax rate. Then, the amount will be reported to the individuals on Form 1099-G by January 31st. Millions of […]
