2024 Tax Filing: What You Need to Know
Tax season will be here before you know it and it’s never too early to start preparations. By following the simple tips below and learning about the updates implemented in 2024, you can make the process of filing taxes more manageable and stress-free. Before we begin, there are three big things you’re going to need […]
What Happens if I Don’t File Business Taxes on Time?
It’s no secret that filing your tax returns on time is important. But many business owners don’t realize the consequences of filing late or not filing at all. Failing to file your tax returns can result in fines and penalties, as well as imprisonment. Filing a tax return is the only way to receive a […]
Looking for a year-end checklist? Are you ready for Tax filing?
While each New Year has unique challenges and opportunities, several constants must be met for your business to successfully close out the current year and set the stage for the next one. This article will cover the steps you need to take to prepare for the next year, including tax and benefit planning. Below, we’ve […]
Things You Should Consider Doing Before Tax Season
No one likes Tax season, but it has to start, and even startups that aren’t making money must file returns on time. Businesses worldwide have already started giving out tax forms and collecting receipts and financial statements, which all take time that CEOs of new businesses could spend growing their businesses. No matter how big […]
The Importance of Accurate Bookkeeping for Tax Filing
As tax season approaches, many business owners are focused on new projects, closing new deals, and preparing for the upcoming quarter. However, amidst all of this activity, it’s essential not to overlook the importance of having your year-end bookkeeping in order. Not only is it crucial for preparing for tax filing, but it also provides […]
How to Deal with a 1099 Penalty for Being Late
This tax season, you’ll need to file a 1099 form if you work with self-employed people or people who do gig work. You may miss a deadline or send an incorrect return if you have to keep track of many different due dates and forms. When that happens, the IRS will send you a notice […]
What will happen if I don’t file my LLC’s tax return?
If you own an LLC and didn’t file your taxes on time, you may wonder what happens next. The answer is simple: if you don’t file your LLC tax return, the IRS will charge you fees. If you don’t pay your tax bill on time, you’ll also have to pay fines and interest. Both of […]
If you haven’t filed your taxes in the past ten years, you need to do this.
So, you are a lot behind on your taxes. When life throws us a curveball, it can feel too hard to deal with taxes and paperwork immediately. Then life goes on, and catching up feels so hard that it’s almost overwhelming. You’ll soon be at a stage where you haven’t filed taxes in 10 years. […]
Don’t Panic: How to Prepare for an IRS Audit
As a business owner, one of the most dreaded experiences you might encounter is an IRS audit. A tax audit can be a time-consuming, costly, and stressful process, which could ultimately impact your business’s financial health. Internal Revenue Service (IRS) audits are initiated to ensure that companies comply with federal tax laws, report income accurately, […]
The Guide to Tax Returns for Seed-Stage Companies
It’s tax season for seed-stage startup founders, and there’s a lot to know. At Countick Consulting, our tax experts work with early-stage companies through all stages of the tax process. Here are the most commonly asked questions we get from founders, and for any additional questions, feel free to contact us here. Countick. first and […]