petersonaccountingcpa.com RSS Feed https://petersonaccountingcpa.com/ Take a look at our recent blog posts and client newsletter articles. en-us Wed, 30 Jul 2025 00:00:00 +0000 Wed, 30 Jul 2025 00:00:00 +0000 What Counts as a Business Expense? https://www.petersonaccountingcpa.com/newsletter.php#feed_2737

If you own a business or work as an independent contractor, knowing what qualifies as a business expense can save you a significant amount of money at tax time. Every dollar you deduct lowers your taxable income, which means you keep more of what you earn. But what exactly counts as a business expense? Getting […]

The post What Counts as a Business Expense? first appeared on www.financialhotspot.com.
Wed, 30 Jul 2025 00:00:00 +0000 https://www.petersonaccountingcpa.com/newsletter.php#feed_2737
Understanding IRS Penalty Abatement and How to Request It https://www.petersonaccountingcpa.com/newsletter.php#feed_2733

Getting a notice from the IRS about penalties can be overwhelming. If you’ve been hit with a penalty for filing late, paying late, or failing to deposit taxes properly, you’re not alone. The good news is the IRS offers a relief option called penalty abatement. If you qualify, you could reduce or even eliminate the […]

The post Understanding IRS Penalty Abatement and How to Request It first appeared on www.financialhotspot.com.
Wed, 23 Jul 2025 00:00:00 +0000 https://www.petersonaccountingcpa.com/newsletter.php#feed_2733
Steps to Take Financially After Losing a Job https://www.petersonaccountingcpa.com/newsletter.php#feed_2729

Losing your job can feel like the rug has been pulled out from under you. Whether it was expected or not, a sudden loss of income can stir up anxiety and uncertainty. While this is no doubt a stressful time, you do have control over your next steps. Acting quickly and strategically can protect your […]

The post Steps to Take Financially After Losing a Job first appeared on www.financialhotspot.com.
Wed, 16 Jul 2025 00:00:00 +0000 https://www.petersonaccountingcpa.com/newsletter.php#feed_2729
What to Do When You Receive an Audit Notice https://www.petersonaccountingcpa.com/newsletter.php#feed_2352

Receiving an audit notice can be an anxiety-inducing experience for anyone, whether it’s from the IRS, a regulatory body, or an internal audit within your organization. However, it’s crucial to remain calm and approach the situation methodically. In this guide, we’ll outline steps you can take when you receive an audit notice, helping you navigate […]

The post What to Do When You Receive an Audit Notice first appeared on www.financialhotspot.com.
Tue, 15 Jul 2025 00:00:00 +0000 https://www.petersonaccountingcpa.com/newsletter.php#feed_2352
Reasons and Rules for Filing an Amended Return https://www.petersonaccountingcpa.com/newsletter.php#3 Once a tax return is filed, most people breathe a little easier. But it’s not uncommon to realize too late that something was left off a return, figures were misreported or some other error was made. Accuracy is essential, but, depending on the type of error, an amendment may not be required. Tue, 01 Jul 2025 09:00:00 +0000 https://www.petersonaccountingcpa.com/newsletter.php#3 Key Tax Law Changes for Individuals and Businesses Under the OBBBA https://www.petersonaccountingcpa.com/newsletter.php#1 On July 4, 2025, President Trump signed into law the far-reaching legislation known as the One, Big, Beautiful Bill Act (OBBBA). The law extends and enhances many tax breaks from the earlier Tax Cuts and Jobs Act (TCJA), includes several of President Trump’s campaign promises, and eliminates some clean energy tax breaks. This article lists many of the highlights of the OBBBA for individuals and businesses. Tue, 01 Jul 2025 09:00:00 +0000 https://www.petersonaccountingcpa.com/newsletter.php#1 Closing a Business? Here's How to Stay on Top of Your Tax Duties https://www.petersonaccountingcpa.com/newsletter.php#2 Businesses close for various reasons. Perhaps you’re ready to embark on a welcome change such as retirement or launching a new venture. Or maybe it just no longer makes financial sense to continue operating your current business. Whatever the reason, closing your business is a significant milestone, and part of wrapping things up means taking care of a few tax responsibilities. Tue, 01 Jul 2025 09:00:00 +0000 https://www.petersonaccountingcpa.com/newsletter.php#2 Beware of Shady Taxpreparers Offering Big and Quick Refunds https://petersonaccountingcpa.com/blog.php?id=2 Thu, 07 Mar 2019 15:00:00 +0000 https://petersonaccountingcpa.com/blog.php?id=2 Your 2018 Taxes Will Be Affected by the Tax Cuts & Jobs Act https://petersonaccountingcpa.com/blog.php?id=1 Wed, 13 Feb 2019 15:00:00 +0000 https://petersonaccountingcpa.com/blog.php?id=1