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What is the Role of a Controller in Navigating Financial Challenges
No matter how good your business is, there may be times when it hits a rough patch. One of the most valuable people you can have by your side is a controller. They can help with a myriad of tasks that enhance the company, ranging from tightening up a budget to honing...
What Are the Tax Implications for Nonprofit Retirement Plans
Nonprofit organizations are formed to support a cause, whether it’s helping the local community, supporting educational purposes, or even protecting the environment. Navigating tax for nonprofit retirement plans can feel a little overwhelming because they generally...
How to Maximize Your Business Tax Benefits Strategically
If you’re running a successful business, it means more than having reliable revenue annually. It also means you’re keeping more of what you earned. More specifically, we’re talking about maximizing your tax benefits in a strategic way. One of the most effective ways...
How Audit Findings Can Drive Strategic Business Improvements
When most people think of an audit, they imagine tense meetings and heaps of paperwork that only confuse businesses. Firms like HintonBurdick help them realize that audit findings for businesses are much more than compliance issues. They can be your powerful tool to...
What is the Role of Financial Statements in Securing Business Financing
If you are trying to secure a loan or attract potential investors to your business, your financial health needs to be front and center. Financial statements for financing come into play because these key documents provide a clear snapshot of your company’s...
How To Check the Status of a Tax Refund
Tracking the status of a tax refund is easy with the Where's My Refund? tool. It's available anytime on IRS.gov or through the IRS2Go App. Where's My Refund provides a personalized date after the return is processed and a refund is approved. While most tax refunds are...
What To Know About Tax-related Identity Theft
Tax-related identity theft occurs when someone uses a taxpayer's stolen SSN to file a tax return claiming a fraudulent refund. In the vast majority of tax-related identity theft cases, the IRS identifies a suspicious tax return and pulls the suspicious return for...
Special Tax Benefits for Members of the Military
Military personnel and their families face unique life challenges with their duties, expenses, and transitions. As such, military members may qualify for tax benefits not available to civilians. For example, they don't have to pay taxes on some types of income....
Tax Breaks for Taxpayers Who Itemize
Many taxpayers opt for the standard deduction, but sometimes itemizing your deductions is the better choice - often resulting in a lower tax bill. Whether you bought a house, refinanced your current home, or had extensive gambling losses, you may be able to take...
Filing a Tax Return: Avoid These Common Errors
While not all mistakes on tax returns cause delays in refunds, as the April 18 deadline approaches, taxpayers are advised to steer clear of the common tax return errors listed below to ensure a timely refund. Not Using Electronic Filing While this isn't necessarily a...
Tax Due Dates for February 2022
February 10 Employees - who work for tips. If you received $20 or more in tips during January, report them to your employer. You can use Form 4070. Employers - Social Security, Medicare, and withheld income tax. File Form 941 for the fourth quarter of 2021. This due...
Non-Profits: Electronic Filing of Form 1024
Starting January 3, 2022, nonprofit organizations applying for recognition of exemption must submit Form 1024, Application for Recognition of Exemption Under Section 501(a) or Section 521 of the Internal Revenue Code, electronically online at Pay.gov. Form 1024, which...
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