Georgia Sales Tax Exemption
Are 501c3 Exempt From Sales Tax in Georgia? Sales tax is an important part of doing business in Georgia. The Georgia sales tax impacts sellers throughout the state, as well as businesses selling online or remotely from out of state to customers in Georgia. However, the Georgia sales tax rules for 501(c)(3) non-profit organizations are unique. […]
Georgia Sales Tax: The Basics
Sales taxes are an important part of doing business in Georgia, particularly when it comes to tangible personal property. Sales tax compliance is crucial for retailers in the state, as well as businesses selling online or remotely from out of state to customers in Georgia. Sales tax impacts retailers in the state, as well as […]
Can You Go to Jail for Not Paying Taxes? Here’s What to Know
Yes, you can go to jail for not paying taxes, particularly in cases of tax evasion or fraud. Can you go to jail for not filing tax returns? The possibility exists, particularly if the failure to file is intentional and aimed at evading tax obligations. These situations involve deliberately avoiding tax payment. In this article, […]
The Complete Timeline for 1031 Exchange: From Start to Finish
The timeline for 1031 exchange is crucial for real estate investors looking to defer capital gains taxes. Missing key deadlines can result in losing tax deferral benefits. In this article, we break down the important dates and steps you need to follow to ensure a successful timeline for 1031 exchange. Key Takeaways A 1031 exchange […]
Top Benefits of Outsource Restaurant Accounting Services
Managing finances can overwhelm restaurant owners, taking time away from core activities like serving customers and growing the business. Outsourcing restaurant accounting allows you to focus on what you do best, while cost-effective skilled professionals handle your financial tasks. This article will detail the key benefits of outsourcing restaurant accounting for your restaurant’s accounting needs, […]
IRS Certified Mail: How to Handle Important Tax Notices Effectively
When you receive IRS certified mail, it means the IRS is informing you about important tax issues. This article covers why you might receive such mail and the necessary steps to take right away. Key Takeaways IRS certified mail ensures important tax notices are officially delivered, allowing taxpayers to respond appropriately. Timely and accurate responses […]
Guide to Accounting for Ecommerce Business Owners
Accounting for ecommerce is crucial for online business success. In this guide, we’ll cover essential processes like tracking transactions, managing taxes, and handling inventory, and how accounting firms can provide vital services such as tax management and bookkeeping. Learn practical tips to ensure your ecommerce accounting is accurate and efficient. Key Takeaways Ecommerce businesses must […]
Expert Trucking CPA Services for Your Transportation Business
Running a trucking business involves unique financial challenges that require specialized solutions. This is where a Trucking CPA comes in. They help you navigate industry-specific tax laws, manage multi-state compliance, and optimize costs. In this article, you’ll learn how a Trucking CPA can streamline your financial management for better profitability and compliance. Key Takeaways Specialized […]
Independent Contractor vs Employee: Key Differences to Know
Should you classify a worker as an independent contractor or an employee? This crucial decision impacts taxes, legal responsibilities, and benefits. This article explains the key differences to help you stay compliant and avoid costly mistakes. Key Takeaways Independent contractors operate as self-employed individuals managing multiple clients, while employees are directed by employers and have […]
A Guide to IRS Tax Penalties
The IRS imposes civil penalties in many situations. Penalties are meant to act as a stick to motivate the public to comply voluntarily with the tax laws. Tax penalties may be either civil or criminal. Civil penalties are financial Criminal penalties may involve jail time This article will focus what you need to know […]
Top Tips for Managing a GA State Tax Lien
A GA state tax lien is a legal claim on your property due to unpaid state taxes. This article will explain what a GA state tax lien means for you, how it’s filed, its effects on your property, and ways to remove it. Key Takeaways Georgia state tax liens are serious legal claims on property […]
How to Conduct a Georgia CPA License Search
Need to verify a CPA license in Georgia? This guide covers everything you need to conduct a Georgia CPA license search. We’ll show you how to access the state board’s website, use the verification tool, and understand the results. Key Takeaways The Georgia State Board of Accountancy oversees the licensing and regulation of CPAs, ensuring […]
🎉WOOHOO!! We Made the Best of 2024 My Dunwoody List 🎉
Exciting News!!! Massey and Company CPA has been recognized as the best CPA firm in Dunwoody in 2024 by Atlanta Best Media! Thank you for the support of our clients and our amazing Team, who have made this possible. We are so thrilled with our growth over the past 10 years. Click HERE to meet […]
Sales Tax Audits and Sales Tax Audit Defense
Sales tax audits are on the rise in most states. This is due to budget shortfalls of states across the country. In fact, state auditors are much more aggressive about tax laws than the auditors at the IRS. The state has the power to do massive damage to a business as a result of a […]
Trust Fund Recovery Penalty
The Trust Fund Recovery Penalty is a very severe set of rules that are meant to encourage voluntary compliance with our payroll tax laws. Payroll taxes includes the income tax and Federal Insurance Contributions Act (“FICA”) taxes that are withheld from every employee’s paycheck. It also includes the employer portion of FICA. The business pays […]
Compensation: How Much to Pay Yourself
Maximizing Tax Savings for Entrepreneurs: Understanding Reasonable Compensation for LLCs and S Corporations Chances are you’ve seen something online about the potential tax savings of switching from an LLC to an S Corporation. However, most of these articles and videos gloss over the most important input of this decision – how much to pay yourself. […]