Filing Back Taxes: Questions & Answers
Falling behind on tax filings can feel overwhelming, but understanding your options is the first step toward regaining control. Whether you have unfiled returns from recent years or have not filed for quite some time, the IRS has specific compliance expectations, deadlines, and enforcement procedures that taxpayers should understand before taking action.
What to Do If Your W-2 or 1099 Is Wrong (And How to Fix It Quickly)
Tax season is stressful enough without discovering an error on a critical tax document. If you receive a W-2 or 1099 and notice something does not look right, it is natural to feel concerned. Fortunately, these issues are more common than many taxpayers realize, and in most cases, they can be resolved efficiently with the right approach and timely W-2 correction help.
The 529 Evolution—More Than Just a College Fund
Many families initially dismiss 529 plans because contributions do not generate an immediate federal income tax deduction. When compared to strategies that reduce this year’s tax liability, a 529 plan can appear less compelling at first glance. As a result, it is often misunderstood or overlooked in broader financial planning discussions.
Payroll Tips for Small Businesses: The Difference Between W2 and 1099
Small business growth often introduces complexity that is easy to underestimate, especially when it comes to payroll. Hiring additional help, engaging contractors, or expanding services can unintentionally expose your business to compliance risks if workers are misclassified. What starts as a practical decision can quickly become a regulatory issue with tax, penalty, and reporting consequences.
Tariff Taxes and Your Financial Statements: Year-End Accounting Considerations (and Why They Matter)
Why Tariff Accounting & Reporting Matters Areas Most Affected by Tariffs Practical Year-End Checklist About Community CPA Tariffs are not a new policy tool, but their accounting and financial reporting implications can create unexpected complexity, even for seasoned business owners. In a recent “3 PM DIY” workshop, Community CPA’s CEO & Managing Partner, Ying Sa, […]
Hiring: Staff Accountant
Position Summary Community CPA is seeking a Staff Accountant on the CPA track who is ready to grow beyond transactional work and develop into a strong accounting professional. This role is designed for someone with a solid accounting foundation, an accounting major, and is working toward their CPA licensure. This position requires an accountant who […]
Year End Tax-Loss Harvesting: Don’t Leave Money on the Table
Tax-Havesting: What, Who, and Why A Simple Year-End Tax Planning Process Common Mistakes and Checklist About Community CPA As the year comes to a close, many investors are taking stock of their investment portfolios and thinking about taxes. While not the most exciting combination, it is one that can make a meaningful impact on your […]
Small Business Grants & “Free Money” in 2025: What Entrepreneurs Need to Know
Understanding Small Business Grants Federal and State Grants Private, Corporate, and Nonprofit Grants About Community CPA For many small business owners, the search for grants, or what people often call “free money,” can quickly become overwhelming. Information online is often outdated, incomplete, or unclear, and business owners find themselves spending hours trying to sort through […]
Ways to Reduce Tax Liability: Year End Tax Planning Strategies for 2025
Individual Tax Planning Strategies Individuals: Changes from the OBBBA Business Tax Planning Strategies About Community CPA As 2025 is quickly coming to a close, individuals and business owners alike are turning their attention to year-end tax planning. Employing the right tax planning strategies is essential for reducing your tax liability and positioning yourself for financial […]
Avoiding Late Fees & Penalties: Everything You Need to Know About the Deadline for Tax Extensions
What an Extension Really Means Individuals and C-Corporations Working with a CPA and Looking Ahead About Community CPA If you filed for an extension earlier this year, the clock is ticking. For most individual taxpayers and calendar-year C corporations, the final deadline to submit your extended tax return is October 15, 2025. This is your […]
