HRA for Small Business Owners

Health Reimbursement Arrangement or HRA

HRA Saves Thousands of Dollars in Tax Each Year for Small Business Owners Small business owners save thousands of dollars every year by using Health Reimbursement Arrangements (HRAs).   The HRA allows business owners who are also employees in their business to deduct medical expenses as a business expense.  This is usually much more valuable than […]

Taxes When Selling a Home

Taxes and Selling a Home

Tax Considerations When Selling a Home Many people move during the summer.   We see this in our CPA practice every year.  Taxpayers who are selling their home may qualify to exclude all or part of any gain from the sale from their income when filing their tax return. When selling a home or residence, homeowners […]

Tax Relief: Appeal of a Tax Matter

Tax Relief and IRS appeals

What to Expect after Requesting an Appeal of a Tax Matter Appeal of a an IRS decision is a good option if you disagree with the IRS in a tax matter.  You may be able to avoid the time and expense of a court trial by asking the IRS Independent Office of Appeals to review […]

Atlanta CPA Tip: Quarterly Taxes

Quarterly Taxes

Atlanta CPA Reminds about Quarterly Taxes Small business owners, investors and independent contractors who are required to pay quarterly taxes to the IRS should consider the June 15, 2023 deadline to stay current with their taxes. Why Make Quarterly Tax Payments? Taxpayers who do not have their taxes withheld from wages (payroll taxes) are required […]

ProfitSense Podcast

Stacking coins

Family Owned Businesses In this inspiring episode of 𝘗𝘳𝘰𝘧𝘪𝘵𝘚𝘦𝘯𝘴𝘦 with Bill McDermott, Gary Massey, CPA discusses the story of his firm and how a little advance planning avoids tax headaches down the road.  Bronson Lavender, Senior Vice President with Pinnacle Bank, talks about his passion and calling for helping clients throughout his career in banking.  […]