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5 Ways to Incorporate Exemptions and Benefits Into Your 2020 Tax Planning

Posted on: November 25th, 2020

COVID-related lockdowns have had a devastating effect on all types of businesses across the country. Restaurants, stores, and offices have been forced to close down, either on a temporary or permanent basis. Many of those still in operation are often struggling to manage their cash flow. There have been several federal and state programs meant…

Tax Prep Services Are Year Round Services

Posted on: November 3rd, 2020

It is never too early to start thinking about professional tax prep services. Any small business owner can benefit from tax prep services, monthly bookkeeping services, and other financial support services. Professional tax prep services are a must for any small business owner to ensure that taxes are filed on time and that all tax…

Taxes Are Inevitable

Posted on: October 27th, 2020

By: Matthew Henry, CPA Brown, Chism & Thompson, PLLC With the presidential election fast approaching, one of the biggest topics being mentioned by both candidates are taxes. The idea of taxes is not new. The Revolutionary War, in part, was started because Britain was taxing the colonies without giving them representation in the government. The…

Tax Laws Small Business Owners Shouldn’t Ignore

Posted on: October 2nd, 2020

Statistics show that small business owners pay taxes of around 19.8%. Taxes are a pain in the neck for a lot of business owners. For instance, the sales tax rate in Oklahoma City is estimated to be 4.13%. However, certain taxes and deductions can be claimed only by businesses, and you may be able to…

4 Reasons You Should Hire a CPA If You Own a Business

Posted on: September 17th, 2020

According to a Palo Alto Software survey, only 33% of small business owners have bookkeepers. What’s more, only 29% hire CPAs (Certified Public Accountants). And yet, CPAs can be integral to your small business — not only when you’re starting out, but also when you’re trying to keep your business afloat. Here’s why your small…

Charitable Contribution Strategy

Posted on: September 14th, 2020

By: Matt Henry, CPA Brown, Chism & Thompson, PLLC According to Winston Churchill, “We make a living by what we get, but we make a life by what we give.” Generosity is at the core of who we are, whether we realize it or not, whether that be our time, our resources, or our love…

Biden’s Proposed Tax Changes

Posted on: August 28th, 2020

By: Matthew Henry, CPA Brown, Chism & Thompson, PLLC As the 2020 presidential election quickly approaches, the possibility of governmental changes are par for the course. With Vice President Biden officially accepting the nomination as the Democratic presidential candidate, questions arise pertaining to his tax proposals and when they will be implemented. If Vice President…

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