IRS 1099-K Changes: What Venmo, PayPal & Cash App Users Need to Know

If you use apps like Venmo, PayPal, Cash App, or Stripe, recent IRS changes may affect you more than you realize. The rules surrounding Form 1099-K, which reports payment transactions, are evolving—and more taxpayers are now receiving these forms than ever before. Historically, third-party payment platforms only issued a 1099-K if you had over $20,000 […]
Small Business Expense Deductions: What You Can (and Can’t) Write Off

For small business owners, deductions are one of the most powerful tools to reduce taxable income—but they’re also one of the most misunderstood. With increased IRS scrutiny in recent years, it’s more important than ever to know what qualifies as a legitimate business expense. The general rule is simple: a deductible expense must be “ordinary […]
IRS Payment Delays After Tax Season: Key Steps and Guidance

Now that tax season has ended, many taxpayers are checking their bank accounts and wondering why their IRS payment has not yet been withdrawn. If you scheduled an electronic payment with your tax return or extension, a short delay can be normal—especially after the busy April filing deadline. Here are some important steps to take […]
How to Use ChatGPT Safely in Your Business

Using AI tools like ChatGPT can be incredibly valuable for businesses—but the key is how you use it. Today, many accountants, attorneys, consultants, and companies rely on AI safely by following a few practical guidelines. Here’s how your business can do the same. 🔐💼 1. Never Share Sensitive Client Information The most important rule: do […]
Why Collaboration Between Bankers and Tax Firms Matters More Than Ever

In today’s complex financial environment, businesses and individuals face decisions that extend far beyond filing a tax return or securing financing. Strategic growth, cash flow management, compliance, and long-term planning increasingly require a coordinated team of trusted advisors. Among the most impactful of these relationships is the collaboration between bankers and tax professionals. When bankers […]
PPP & Relief Program Compliance: Key Lessons for Small Businesses

Recent news involving a Connecticut accountant sentenced for misusing Paycheck Protection Program (PPP) funds serves as an important reminder for small business owners: government relief programs come with strict rules, and compliance matters long after the funds are received. Keep Detailed Documentation Relief programs like PPP require accurate applications and proper use of funds. Business […]
Understanding Tip Income and Overtime Pay: What You Need to Know

Recent discussions and legislative attention to tip income and overtime pay have raised important questions for both employees and employers. While tips and overtime have long been taxable, increased scrutiny and potential changes in how these earnings are reported and treated for tax purposes make it more important than ever to understand the rules and […]
Protect Your Financial Information: Why Data Security Matters

At Accavallo & Company, protecting your personal and financial information is a responsibility we take seriously. As tax professionals, we handle some of our clients’ most sensitive data—Social Security numbers, bank information, tax returns, and business records. With cyber threats on the rise, strong data security practices are more important than ever. The IRS, state […]
Making Tax Time Easier with Secure Document Sharing

In today’s digital world, technology plays a key role in simplifying the tax preparation process. By using secure tools to share documents and communicate with your accountant, you can help ensure your tax return is prepared accurately, efficiently, and on time. At Accavallo & Company, we encourage clients to take advantage of our secure Onvio […]
Upcoming Q1 2026 Tax Deadlines: What to Know and How to Prepare

As we close out the year and head into tax season, staying ahead of important deadlines is key to avoiding penalties, last-minute stress, and missed opportunities. Each quarter, we share essential tax filing and payment due dates, business compliance reminders, and planning tips to help our clients stay organized and confident. Below is an overview […]