Running a small business in Coral Gables is exciting, but managing finances can be overwhelming. Proper bookkeeping and accounting are essential for success, yet many business owners unknowingly make financial mistakes that can hurt profitability, cash flow, and tax compliance. Even small errors can snowball into costly issues that drain resources and lead to penalties. […]
Beware Aggressive Employee Retention Credit “Mills”
To help small businesses keep employees on their payroll during the pandemic, Congress introduced the Employee Retention Credit (ERC) in 2020, which is a tax credit that can be claimed on the quarterly payroll tax reports. Since its inception, additional laws have modified the qualifications, and it is now quite a complex area. Because it […]