Having recently wrapped up another successful tax season here at Baum CPA, our expert accounting professionals like to compare notes on what we have encountered in serving a wide variety of business professional taxpayers. Our primary mission is always to help our customers, and here is a snippet of things we have seen, and tried […]
Archives for April 2022
Disaster Is a Harsh Lesson for an Underinsured Small Businesses – Maybe Fatal
Small companies lack the cash cushion or access to funds that bigger businesses might enjoy. Many small businesses were devastated by the coronavirus pandemic. Even with programs such as the Paycheck Protection Program, many did not survive. But for lots of small businesses that did survive the past few years, and for those emerging since […]
Health Savings Accounts (HSA): An Unsolicited Lesson for Your Taxation ‘Edu-tainment’
Anytime our team of professional accountants at Baum CPA sees a ‘Code W’ on a W-2, this clues us in to the fact that the client has a HSA account. What is a HSA? Well, it’s a Health Savings Account — a special kind of investment account. If you are in a high-deductible health plan […]
How to Calculate Your Home Office Tax Deductions
Does any of this apply to you? You run a business in your home. You run a business from your home. You run a home-based side gig. You are self-employed and conduct some aspects of your business from home. If you answer yes to any of the above, then you should be capturing the costs […]