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 […]
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 […]
Make This Tax Season Easier: Essential Tax Season Prep for Business Owners
Tax season doesn’t have to be stressful for your business. With proper preparation, you can help your accountant file your business taxes accurately and on time—without needing an extension. Maintain Your Books Throughout the Year One of the most helpful things you can do for your business is keep accurate records of income and expenses […]
How QuickBooks Online Can Save You Time and Simplify Your Business
Running a business means juggling a lot—sales, customers, employees, and, of course, the financial side. Bookkeeping and payroll are often the most time-consuming tasks, but thanks to QuickBooks Online (QBO) and its new AI features, those tasks are now easier, faster, and more accurate than ever. Less Time on Paperwork, More Time on Business QBO’s […]
Recover Missed Tax Deductions Without Amending Past Returns: How IRS Form 3115 Can Help
Have you ever discovered something about your business’s taxes that made you wonder, “Why didn’t my previous accountant catch that?” You’re not alone. One of the most common areas where businesses and investors lose money on their taxes is depreciation—especially when assets like buildings or renovations aren’t classified or handled properly. Thankfully, there’s a powerful […]
Top 4 Reasons All Businesses Need Year-Round Accounting Services
At Accavallo & Company, we understand that successful businesses don’t happen by chance—they’re built on a foundation of strategy, insight, and proactive financial planning. Whether you’re a growing startup or a well-established small business, year-round accounting services are essential to keeping your business running smoothly and staying ahead of the curve. Too often, business owners […]
