All Posts

Tax Planning Strategies for Your Business

Filing taxes can feel like navigating a minefield. One wrong step, and you might attract unwanted attention from the IRS. As someone who works closely with service-based businesses and nonprofits, I understand how important it is to keep your financial records clean and compliant. Today, I want to share some key insights about top IRS audit triggers to avoid so you can protect your business and focus on growth. Let’s dive into the most common reasons the IRS might take a clo

Three Main Types of Audits and When to Consult a CPA or Tax Attorney

Nonprofits and churches operate under a different set of financial responsibilities—donor trust, board oversight, grant compliance, and stewardship. Yet many organizations rely on inconsistent or under-resourced bookkeeping, increasing risk and limiting mission impact. At Mirror Accounting Services, we provide bookkeeping and accounting services for nonprofits and churches  that need clarity, compliance, and confidence—without unnecessary complexity. Bookkeeping Is More Than

Service-based businesses—consultants, agencies, law firms, contractors, Auto repair shop and other professionals—grow on margins, cash flow, and timing. Yet many owners rely on DIY bookkeeping or software alone, not realizing that poor financial visibility quietly limits growth . At Mirror Accounting Services, we provide professional bookkeeping for service-based businesses  that want clean, reliable numbers to support better decisions—not just tax compliance. Why Bookkeeping

In our previous article, we provided a summary of the major changes in the Republicans’ One Big Beautiful Bill Act. In this follow-up article, we delve a little deeper into some of the major changes from the OBBBA. We take a look at how some of these provisions will work in practice, the actual benefit…

President Trump signed the Big Beautiful Bill into law on July 4, marking his first major legislative victory of his second term. What does this mean for tax payers? Here, we will take a look at some of the main provisions for businesses and individuals. For Individual Taxpayers For Businesses Budgetary & Social Impacts While…

Build Stronger Compliance, Operations, and Impact Running a nonprofit comes with a unique set responsibilities. From maintaining tax-exempt status to managing donor trust and ensuring compliance, it’s critical for nonprofit leaders to stay informed. Here are seven key things every nonprofit should know to operate effectively and sustainably: 1. Maintain IRS Tax-Exempt Compliance To keep…

In this edition of our newsletter, we provide an update on the Financial Crimes Enforcement Network’s (FinCEN’s) beneficial ownership information (BOI) filing requirements. A court granted an injunction which stays implementation of the filing requirements for now. We also discuss the importance of bookkeeping for businesses. This is an important task that too many businesses…

In this edition of our newsletter, we provide an update on the Financial Crimes Enforcement Network’s (FinCEN’s) beneficial ownership...

This is an important update regarding the Beneficial Ownership Information (BOI) reporting requirements. On December 23, 2024 the 5th...

Below are the deadline based on when you start your company. The Financial Crimes Enforcement Network (FINCEN) requires that most...

As we close out 2024 and look forward to 2025, we review the recent tax changes announced by the IRS for tax year 2025. These changes...

Welcome to our monthly catch up. This month we want to talk about something that is at the heartbeat of every business. Cash. As business...

BEWARE OF EMAIL AND TEXT SCAMS INVOLVING ECONOMIC IMPACT PAYMENTS, EMPLOYEE RETENTION CREDITS, TAX REFUNDS. Email and text message scams...

Access to Capital for Small Businesses Businesses large and small need access to capital to fund operations and grow revenues and...

Are you worried about how much you are going to pay for taxes this year? And how you could have saved on your taxes by simply having your...

Taxpayers who file as married filing jointly and make the balance-due payment online may find out that their payment does not get...

https://www.mysolo401k.net Last Updated on 12/22/2022 Depending on what stage you are in the solo 401k process, you basically need to be...

Many companies, especially smaller ones, do not create a budget. This can lead to financial problems down the road. Spending can easily...