OnTarget CPA Blog

Many businesses now offer, as part of their health care benefits, various types of accounts that reimburse employees for medical expenses on a tax-advantaged basis. These include health Flexible Spending Accounts (FSAs), Health Reimbursement Arrangement (HRAs) and Health Savings Account (HSAs, which are usually offered...

The Coronavirus Aid, Relief and Economic Security (CARES) Act made changes to excess business losses. This includes some changes that are retroactive and there may be opportunities for some businesses to file amended tax returns. If you hold an interest in a business, or may do...

Does your business receive large amounts of cash or cash equivalents? Business accounting principles indicate you may be required to submit forms to the IRS to report these transactions. A little tax planning can assist you. Filing requirements Each person engaged in a trade or business who,...