Tax Tips
Here are some tips to help you get through this tax season.
The Complete Guide For 2022 Taxes
Tax Guide Tax season can be confusing and stressful, not everyone has the time or knowledge to organize their taxes themselves. At Hylen, we offer tax services that can make filing your taxes quick and easy. Keep reading to learn tips and important information to help you file your 2022 taxes right! Tips
Accounting For Your Online Business: What You Need To Know
As online shopping continues to expand and become the main source for many to purchase products and services, online businesses need to track their sales and stay on top of their finances. Whether an online business is new or well-established, it’s important to understand the finances behind the business, the operating costs, taxes, and the
IRS BACKLOG OF TAX RETURNS HITS 35 MILLION
The IRS has ended the filing season with a backlog of over 35 million individual and business income tax returns that require manual processing, after facing an “unprecedented” number of returns requiring manual review, according to the National Taxpayer Advocate. The “historically high” number of returns requiring manual review means that most individual taxpayers and
2020 Taxes: What You Need To Know Before Filing
Due to Covid-19 and many other things, a lot has changed for the 2020 tax season, and now more than ever it’s important to start thinking about your tax situation while you still have time on your side. As the pandemic still plays a significant role in our economy, the government’s push to get stimulus
Remote Worker vs. Working From Home: How Does It Affect Your Taxes?
Many businesses have been forced to switch to an entirely remote workforce. While working from home you may be asking yourself, how can you and your business file taxes correctly for home-based work, and are there any benefits you should be aware of when filing your taxes for remote work?
COVID-19: Updated Tax Filing Facts
With the current COVID-19 pandemic, many of us are finding ourselves doing more virtually. From meetings to happy hours, we are doing more online – including our taxes. In a period of time where most Americans are usually concerned about tax filing, there are now new accommodations as a result of the pandemic. Hylen recognizes
How to prepare for tax season
With tax season upon us, many are stressed and concerned about filing properly. There are a few things one can do in order to make the process of filing taxes a bit easier and maybe even enjoyable! First, you must determine your filling date since some small business tax returns are due on March 15
Cash vs. Accrual Basis Accounting
What is the difference between Accrual Basis and Cash Basis Accounting? ACCRUAL BASIS The accrual basis method takes into account all revenue and expenses at the moment they are earned or incurred. However, this method works independently of the function of time and whether the money for either revenue or expense has actually been paid
