The Carmel Arts District attracts visitors from near and far. The Palladium, eateries, boutiques, and art dealers all call the area home. When it comes to art and music, creators can now tokenize their creations with non-fungible tokens (NFTs). At Edgewater CPA Group, we know crypto, NFTs, and taxation can be confusing. Fortunately, we offer expert advice to everyone from art dealers and purchasers to business owners and investors.
Businesses constantly search for ways to streamline processes and cut costs. Every business charges money for a product or service. This means they must also pay employees, report revenue, track expenses, and pay taxes. All of these tasks require expertise and time, which is why outsourcing them as a package makes sense. Fortunately, Edgewater CPA Group offers business bundling for accounting, tax, and payroll services (and more).
Cryptocurrencies are an elusive mythical creature for some, but for others, they are a viable investment strategy that carry a huge gains potential. For the latter, investors tend to assume the higher risk that goes along with the possibility of substantial returns. Fraud does not constitute a major component of risk assessment when it comes to most investments. However, Edgewater CPA Group wants you to know some cryptocurrencies are rife with fraud, and a new term has even been coined: cryptofraud. Here are the top three ways cryptofraud occurs.
Main Street businesses hold their breath at every administration transition, and this one is no different. Business owners in Indianapolis, IN, wonder what the Biden stimulus plan means for small businesses. This article includes an overview of what the plan entails, how it could impact small businesses, and the likelihood of its passing. Edgewater CPA Group is available to help small businesses navigate the pending bill, along with other bookkeeping services.
Many small businesses have been negatively impacted in 2020, and Indiana businesses are no exception. Edgewater CPA Group witnessed the closing of many longstanding Indiana businesses, such as the Butler-Tarkington hardware store owner who closed up shop after 43 years in business. Costumes by Margie closed after 50 years in business. Moreover, restaurants, hairdressers, and movie theaters have also been hit hard due to the pandemic. If your small business closed permanently this year, here are three things you need to do for your final business tax preparation.1. File Your Final Tax ReturnThe IRS requires final tax reporting, as does the Indiana Department of Revenue, along with the satisfaction of tax debt upon the close of your business. The tax and reporting requirements can be cumbersome, and mistakes can be costly. Here are the final tax return requirements for your business tax preparation.Sole proprietors. File a final Schedule C. Note: Schedule C … Continued
Virtual currencies, also called cryptocurrencies or e-currencies, might be relatively new to the world of finance, but they are becoming more common. Bitcoin, for example, is being accepted by retailers as payment and used to pay employees. Some people are holding virtual currencies as capital assets. Regardless of how you use e-currencies, they may be subject to taxation by the IRS. If you are exploring cryptocurrencies, now would be a good time to talk to the team at Edgewater CPA Group about how you can plan for your 2020 taxes.
For small businesses, paying sales tax on goods they sell is a simple concept. But with constantly evolving federal and state legislation, keeping track of all the changes can be challenging. That’s why our clients appreciate the services they get in tax preparation from Edgewater CPA Group. We know it’s a difficult task for small businesses owners to manage. Here are a few roadblocks you should be aware of in making sure your small business is compliant with paying sales tax.
Let’s face it, life is hectic and chaotic for many people right now. Between business owners eyeing an uncertain economic future, employees hoping they won’t get laid off, and parents trying to figure out school plans for their kids, we’re carrying a lot of stress these days. That’s why it’s so important to encourage your employees to come together as a team. Team-building activities can help foster bonding and create a sense of shared purpose that can have a serious impact on your bottom line. Edgewater CPA Group has a few ideas on how you can do just that, as well as great payroll solutions when you need them.
When you’re a small business owner, you have a lot going on – all the time! That’s why you need a simple bookkeeping solution you can actually understand. At Edgewater CPA Group, we’re aware that there are lots of options out there. But your business is as unique as you are, and each tool offers different features. Here’s a brief look at what we suggest.
The COVID-19 pandemic continues to make headlines all over the world – and on Main Street in your hometown. According to an April study by the National Small Business Association, nine out of ten small business owners are worried about the future. Nearly three quarters of small businesses have seen customer demand drop since March. Although federal aid is available, the process can be difficult to navigate and it can take a long time for relief to arrive. So what’s a small business owner to do in the meantime? Edgewater CPA Group is here to help. It’s impossible to know what our world will look like a year from now, but here are a few places to start in considering how your small business can weather this global pandemic.
Client Portal