March 2020

Dear Valued Clients,

Whether you run a brick and mortar business or an ecommerce business, you have to deal with charging sales tax. How and when to charge sales tax has always been a confusing issue for business owners. And since more people are now running both an ecommerce operation in tandem with a brick and mortar operation, the issues are even more confusing.

Due to COVID-19, the due dates for tax returns and tax payments have been changed.

Due Dates for 2019 tax year:

Individual 1040 Tax Returns - Federal, CT, & NY - July 15th.  

           Other states have also changed their due dates to coincide with the Federal due date.  

As a business owner, you’re entitled to a plethora of tax deductions. These tax deductions can help you to offset business income, which ultimately helps you be more profitable. Of course, you need to be careful with your tax deductions. Always consult with your CPA about which deductions are available to you, and how to take them.

If you’ve been relying on word-of-mouth, newspaper advertising, and local networking to bring in new clients, it’s time to expand your thinking. The internet isn’t just for selling products; even service professionals like accountants can build their customer base online.

In the process of taking stock of your business at the start of 2020, did you decide to look at your insurance policies? Before you review those thick stacks of paper, you should learn about the major types of insurance policies.