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tax planning Archives - Orcutt & Company CPA

Orcutt Financial Tax Planning With Year-End Tax Tips

It’s Not Too Late: Year-End Tax Tips to Make the Most of 2021

By Business Advice, Tax Advice

Year-end tax tips can help save you a lot of headache next tax season. If you struggle with tax filing, you’re not alone. Every year, as many as 33% of Americans file their taxes late. Some just forget, others struggle to get things together in time because they left it to the last minute, and others are scrambling to make sure they have everything they need to keep their bill low. It’s not too late to make sure you have…

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Everything You Need to Know About the Child Tax Credit

By Tax Advice

On July 15, 2021, the IRS began making Child Tax Credit payments to many Americans. These payments are part of the $1.9 trillion American Rescue Plan Act (ARPA) passed in March 2021. They are meant to give much-needed relief to many families suffering due to the current global health crisis. The tax credit will also help small businesses and their owners.  What is the Child Tax Credit?  The first Child Tax Credit was created in 1997 as a means to…

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chess board

Strategic Plan? What is That?

By Business Advice

As business climates become even more competitive, small and large businesses alike need to adapt by creating powerful strategic plans that will help them attract business and grow. If you want your business to thrive and remain relevant instead of merely surviving, you’ll need to take some time to create and follow one of these vital road maps.  What is a Strategic Plan? A strategic plan is a document that outlines your business’s long-term goals and your strategy for achieving…

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The Importance of Meeting Tax Deadlines for Your Small Business

The Importance of Meeting Tax Deadlines for Your Small Business

By Business Advice, Tax Advice

If you own or manage a small business, it’s important to meet your tax deadlines to avoid costly fees and penalties. Which taxes you are required to pay depends on your business structure and other factors. Here are five types of business taxes to be aware of: 1. Income Tax If your business is not a partnership, income taxes (federal and state) need to be filed by April 15. In a partnership, profits and losses are passed through to the partners who…

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