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4 Key Changes To Depreciation Under The TCJA

As the Tax Cuts and Job Act (TCJA) continues to be unraveled by tax professionals, it’s important to review the changes and their implications on business operations and tax strategies. In this article, we’ll highlight TCJA’s changes to first-year bonus depreciation,...

3 Ways A CPA Can Make Your Business Successful

It can often seem unnecessary to hire a certified public accountant (CPA) since bookkeepers and accountants are frequently believed to be the be-all-end-all for a business’ finances. However, there are certain advantages to having a CPA by your side. While we...

3 Myths You Shouldn’t Believe About Accountants

To a business owner, an accountant that helps make sense of business finances can seem like a godsend. Whether you’re just starting your business or are already established, having a great accountant by your side is a sure way to keep your business running smoothly....

3 Ways QuickBooks Apps Can Improve Your Business’ Efficiency

Over 5.6 million businesses use QuickBooks to streamline their business’ accounting. The eye-pleasing interface, streamlined workflows, and powerful automation that QuickBooks provides to these business owners are invaluable, saving them time and money. While...

Client Spotlight: Fresno County Economic Development Corporation (EDC)

We’re excited to highlight Fresno County’s Economic Development Corporation (EDC) as our spotlighted partner this month! For over 30 years, the EDC has promoted business success within Fresno County through strategic partnerships at both the local and national level....

How To Calculate The Pass-Through Deduction For 2018

Formally known as the Section 199A deduction, the “pass-through” deduction allows many sole proprietorships, partnerships, S corporations, trusts, or estates to deduct up to 20 percent of their qualified business income. Taxpayers who are eligible can also deduct up...

Don’t Overlook These 5 Business Deductions As You File for 2018

As the old saying goes, “you gotta spend money to make money”. The topic of expenses and deductions is likely a major part of your meetings and discussions with your CPA (if you don’t have a CPA, read this) in these first months of 2019. In this article, we’ll list...

4-Steps to Choosing the Right Accountant for your Business

Choosing the right accountant to work with your small business may seem like a daunting risky decision, however it really doesn’t have to be when you’re equipped with the right tools to measure their performance. The big question is whether to hire an outside firm...

Get Your QuickBooks Ready for your Accountant

Finalizing your books for the year has already been on your mind since perhaps the beginning of the last quarter of the year. And now you have to have your QuickBooks file ready for your CPA. How can you make it easier for them to prepare your annual financial...

Is it a Requirement for a Small Business to have a CPA?

Accountant Vs. CPA First, it is important to distinguish the difference between a CPA and an Accountant. In general terms, an accountant is a professional who follows specific rules and regulations, including Generally Accepted Accounting Principals (GAAPs), which are...

Filing Late? Here’s 5 Helpful Tips

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Well, it’s September already, which means that we are nearing the final months of 2018. Although many taxpayers have filed their taxes by now, others are still waiting on paperwork or bookkeeping processes to be processed. If you haven’t filed your 2017 taxes yet, take a look at the tax tools below. Remember, MBS Accountancy is here to help you make your business a success!

If You:

Want To File Your Taxes, use the IRS Free File

Available until October 15, taxpayers (with and without an extension) with an annual income below $66,000 can file their taxes online on the IRS website.

Have Filed An Extension, Remember the October Deadline

If you have filed an extension, remember that the deadline is October 15th. If you need to make a payment to the IRS, check out the IRS Direct Pay feature.

Didn’t File An Extension, File and Pay As Soon As Possible

If you didn’t request a filing extension by April 17th, you should file your taxes and make any payments as soon as possible. Use IRS Direct Pay to make your payments if you are able to pay it all at once. If you would like to set up a payment plan, visit the IRS website and begin setting one up so you can immediately take action.

Have Filed and Want To Check on Your Refund Status

If you have already filed your taxes and dealt with any necessary amendments, you can use the Where’s My Refund feature on the IRS website to check on its status. You can also use the IRS2Go mobile app, the official IRS app, to check your refund status, make payments, find free tax help, and generate security codes for securing your access to online IRS services.

Need Help, Give Us A Call! We Are Here To Help You Succeed!

At MBS Accountancy, we are dedicated to helping you and your business successfully navigate the world of taxes and accounting. Our tax experts are here to provide you with top-notch advice to help you with your situation. Contact us today and schedule a consultation with one of our financial experts!

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