One of the most stressful times of year for a small business, or a family, can be tax time. In addition to reporting your actual income and expenses, ever-changing tax laws can add complications to keeping your books in order. This year accountants are already anticipating the changes that will occur when the Tax Cuts and Job Act of 2017 expires in 2025, in which the 199A pass-through deduction will expire. There could also be changes that could affect small business owners as a result of a Supreme Court case that may be heard this year: Moore vs. United States, which could affect whether the government is able to tax unrealized income.
As a business owner it is important to keep up with key dates around tax season and know when to reach out to a seasoned tax professional. At Seward Accounting and Tax we’ve created a simple form that will give you a Free Tax Filing Estimate!
We’d love to be on your team and help you have a successful tax season – get your free estimate and see how Seward Accounting and Tax can help!