Your 2020 Taxes: What to Look Out for if You Took Government Aid Reducing taxes is complicated – who doesn’t cringe at the thought of tax season?! – but the 2020 tax season is shaping up to be one for the

3 Ways Your Auto Body Business Can Get Tax Credits Normally Reserved for High-Tech Companies Maybe you don’t know much about Research & Development (R&D) tax credits – though they have been around since 1981, they have been growing in popularity

Are You Ready for the Next Market Crash? The Coronavirus Crash of 2020 took us all by surprise – many people and businesses are still recovering from the financial crisis resulting from COVID-19. With fears running rampant, we’re all wondering the

Change in Administration, Change in Tax Policy? With Biden set to take office on January 20th, you’re probably starting to worry about the incoming administration’s tax policy and how it could impact your shop – and since some small businesses could

Avoid These 3 Common Mistakes When Buying a Company Car Purchasing a company car allows you to claim a variety of tax benefits, such as deductions for gas mileage and insurance, but before you commit yourself to such a major investment,

How Do You Complete a PPP Loan Necessity Questionnaire? Months after the PPP rolled out, the SBA published Form 3509, the PPP loan necessity questionnaire that applies to for-profit businesses, along with its non-profit counterpart. The SBA plans to use these questionnaires

Could You Owe Taxes Even Though You Took a Loss in 2020? Some shops took losses this year, even after accepting PPP grants, and looking at our clients’ situations, we’re seeing that they may still owe taxes for 2020. How does that