by Sandra Tapia, CPA, PLLC | Oct 27, 2026 | Uncategorized
Quick Answer: You can’t give tax-free cash or gift cards for the holidays, as the IRS classifies all cash-equivalent bonuses as taxable wages regardless of the amount. However, you can legally provide tax-free holiday bonuses through non-cash tangible gifts,...
by Sandra Tapia, CPA, PLLC | Oct 21, 2026 | Uncategorized
Quick Answer: If you run a cash-basis business, you can lock in immediate tax savings on upcoming 2027 operating costs by paying those vendor bills before December 31. Under the IRS 12-month rule, that prepayment cuts your 2026 taxable profit dollar for dollar,...
by Sandra Tapia, CPA, PLLC | Oct 13, 2026 | Uncategorized
Quick Answer: Keep three to six months of baseline operating expenses in liquid reserves, alongside a separate tax account holding 15% to 30% of weekly gross receipts. Having that buffer with a Quick Ratio of at least 1.0 means you’ll protect daily...
by Sandra Tapia, CPA, PLLC | Oct 9, 2026 | Uncategorized
Quick Answer: To fix common QuickBooks Online problems, audit your bank feed queue to ensure transactions are matched to open invoices and transfers rather than blindly clicked as “Add,” which eliminates duplicate revenue and miscoded expenses. From...
by Sandra Tapia, CPA, PLLC | Oct 7, 2026 | Uncategorized
Quick Answer: Uncollectible business receivables convert into ordinary losses that reduce your active net profit dollar-for-dollar without a ceiling. To lock in this tax offset before year-end, you’ll need to execute a formal general ledger charge-off...
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