CRR Blog » Small Business
21 FOLLOWERS
Stay updated on the latest Small Business news, updates, trends, and more with the help of CRR Blog. CRR is a proactive accounting and consulting firm. For more than two decades, we have provided accounting, auditing, tax, and business consulting services to organizations in a diverse range of industries; as well as tax and financial consulting services to individuals, estates, and trusts.
CRR Blog » Small Business
2w ago
CRR Blog » Small Business
1M ago
CRR Blog » Small Business
1M ago
CRR Blog » Small Business
1M ago
Do you have your finger on the pulse of your company’s financial health? Having insight into your financial data is key to making strategic decisions that can increase your company’s efficiency and profitability. Financial dashboards are valuable tools to help you gain this insight ..read more
CRR Blog » Small Business
5M ago
The IRS recently announced several inflation-adjusted federal income tax amounts. Here’s a rundown of the amounts that are most likely to affect small businesses and their owners ..read more
CRR Blog » Small Business
5M ago
If you’re planning to start a business or thinking about changing your business entity, you need to determine what will work best for you. Should you operate as a C corporation or a pass-through entity such as a sole-proprietorship, partnership, limited liability company (LLC) or S corporation? There are many issues to consider ..read more
CRR Blog » Small Business
6M ago
Ever wonder how IRS examiners know about different industries so they can audit various businesses? They generally do research about specific industries and issues on tax returns by using IRS Audit Techniques Guides (ATGs). A little-known fact is that these guides are available to the public on the IRS website. In other words, your business can use the same guides to gain insight into what the IRS is looking for in terms of compliance with tax laws and regulations ..read more
CRR Blog » Small Business
6M ago
Starting in 2024, many entities created in or registered to do business in the United States will be required to report information about their beneficial owners – the individuals who ultimately own or control a company – to the Financial Crimes Enforcement Network (FinCEN). FinCEN has published a guide to help small businesses navigate the new rules for reporting beneficial ownership information (BOI ..read more
CRR Blog » Small Business
6M ago
On Wednesday October 4, 2023, Massachusetts Governor Maura Healey signed a $1 billion tax package into law. This significant legislation will increase tax credits for caregivers, renters, and seniors, and provide benefits for the business community. Through this legislation, Healey hopes to make the cost of living more affordable to families ..read more
CRR Blog » Small Business
6M ago
If you read the Internal Revenue Code (and you probably don’t want to!), you may be surprised to find that most business deductions aren’t specifically listed. For example, the tax law doesn’t explicitly state that you can deduct office supplies and other expenses. Some expenses are detailed in the tax code, but the general rule is contained in the first sentence of Section 162, which states you can write off “all the ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business ..read more