Practical guidance on taxes, bookkeeping, and IRS notices — from the CPAs at Li CPA Group.
Sales tax is one of the easiest things for a NYC business to get wrong — and the state notices. Here's what you must collect, file, and remit.
Read more →The home office deduction is one of the most misunderstood write-offs. Here's who actually qualifies — and the myth that gets people audited.
Read more →Paying someone as a 1099 contractor when they're really a W-2 employee is one of the costliest mistakes a NYC business can make. Here's how to tell the difference.
Read more →Restaurants have razor-thin margins — so missed deductions hurt. Here are the write-offs NYC restaurant owners most often overlook.
Read more →If you're self-employed or run a business, no one withholds taxes for you — you do. Here's how quarterly estimated taxes work, and how to avoid the underpayment penalty.
Read more →Just launched a business in NYC? Congratulations — now here's the first-year tax checklist that keeps you out of trouble and out of overpaying.
Read more →What should a small business actually pay a CPA in NYC? Here are honest price ranges for tax returns, bookkeeping, and ongoing support — and how to avoid overpaying or underbuying.
Read more →"Should I be an LLC or an S-corp?" is the question we hear most from NYC owners. Here's the honest answer — and the income level where an S-corp actually starts saving you money.
Read more →Received an IRS CP162A notice? It's one of the most common penalties the IRS sends partnerships and S-corps. Here's what it means, what it costs, and how to respond.
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