by 5 Star Accounting & Business Solutions LLC | Uncategorized
Season’s greetings from the 5 Star Accounting & Business Solutions LLC team. For you and me both, this week can feel like a blur – balancing the holiday rush with the administrative wrap-up of the year.And while it’s rather fast-paced here at 5 Star...
by 5 Star Accounting & Business Solutions LLC | Uncategorized
Key TakeawaysIt’s not too late to create meaningful savings with these year-end tax moves to make now, but your options are very timing-sensitive. Low-cost, in-stock equipment and supplies are the most realistic last-minute purchases that can still be deducted...
by 5 Star Accounting & Business Solutions LLC | Uncategorized
(Disclaimer: These are things you want to be discussing with your tax professional more in-depth, so you’re making a plan that’s right for your business.)Key Takeaways The more favorable EBITDA-based business interest deduction limit is back for your 2025...
by 5 Star Accounting & Business Solutions LLC | Uncategorized
Key TakeawaysFocus on data integrity. Ensure payroll wages, taxes, benefits, and GL postings are clean, consistent, and reconciled. Your tax preparer depends on one crucial “three-way match”: W-2 totals, Form 941 totals, and the General Ledger wage expense should...
by 5 Star Accounting & Business Solutions LLC | Uncategorized
Key Takeaways Create a written data protection policy. Every employee should know the rules for handling sensitive data. Back up data regularly with secure cloud services or encrypted physical backups. Encrypt everything so stolen data is useless to...
by 5 Star Accounting & Business Solutions LLC | Uncategorized
Key TakeawaysWhen your business gives back, make sure it’s documented correctly so your tax professional can secure any potential tax benefits. Charitable contributions to qualified 501(c)(3) organizations can be deductible. Marketing-related giving...
