News & Information Relevant to Your Financial Success
Contained on this page of our website, you will find news briefs relevant to the financial industry. This area is updated frequently, as we continue to provide our clients and visitors the most current information available.
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Latest Articles and News from Lesemann CPA
Record Keeping for Your Own Business
Keeping good business records will not only help you stay in business but may also help you increase profits. Your business records let you analyze where your business is and where it's going. They point out potential trouble spots and serve as a guide to where you...
Correcting Errors on Your Credit Report
For whatever reasons, errors can and do appear on credit reports. Most frequently, errors are due to honest mistakes or misidentification. Nevertheless, you have a right to dispute errors or misleading information contained in your credit bureau files. Your rights...
Choosing an Entity for Your Business
Now that you've decided to start a new business or buy an existing one, you need to consider the form of business entity that's right for you. Basically, three separate categories of entities exist: partnerships, corporations, and limited liability companies. Each...
Can I deduct home office expenses?
If you use part of your home to conduct your trade or business, you might be able to deduct certain related expenses. To qualify for the home office deduction, you must pass certain tests. You must use part of your home regularly and exclusively for your trade or...
Federal Tax Filing Season Has Started
The IRS announced that the starting date for when it would accept and process 2021 tax-year returns was Monday, January 24, 2022. Tips for making filing easier To speed refunds and help with tax filing, the IRS suggests the following: Make sure you have received Form...
Income Tax Tips: Business Insurance
Insurance serves many purposes for a business. You'll need insurance to protect your business from property damage, personal injury suits, and other forms of financial loss. In addition, you may want to provide your employees with certain types of insurance (e.g.,...
4 Ways We Helped Clients Save Money on Their 2020 Taxes
Psst. These have worked with other Clients -- they could work for you, too. Now that 2020 taxes are filed (unless you have an extension), it's time to think about legal ways to minimize your tax burden for 2021. A strategic plan NOW saves you money LATER. And while...
Phase 4 COVID-19 Relief Bill (Tentative)
Please note that as of the date and time of this article, the Consolidated Appropriations Act, 2021 has yet to be signed by President Trump. Until then, the content shown below is unofficial and is not considered law. Once finalized, we will provide summarized...
Hiring Your First Employee
As a small business owner, you handle all business matters--from producing and marketing your goods or services to fixing paper jams in the copier and yes, even performing janitorial duties with toilets!!. Your business has grown and now you're stretched too thin....
Tax Planning for the Self-Employed
Self-employment is the opportunity to be your own boss, to come and go as you please, and oh yes, to establish a lifelong bond with your CPA firm. If you're self-employed, you'll need to pay your own FICA & Medicare taxes and take charge of your own retirement...
