Introducing our SBK Preferred Partners Page
We’ve shared info and links to the bookkeeping resources and apps we use and recommend on our new Preferred Partners page.
Business
The Three Martini Lunch Rule
Did you know that the Three Martini Lunch Rule ends on January 1, 2023? 🍸🍸🍸 A benefit from the The Consolidated Appropriations Act, 100% of restaurant meals have been temporarily deductible since 2021, ending in 2023 when we’ll return to having both 50% and 100% deductible meals. What’s the difference between the two for your …
The Tax Bracket Myth
“I don’t want to make an extra $2,000 because that will put me into the next tax bracket and cost me more.” We hear this same refrain every year around tax time. It seems just as many people believe this tax bracket myth as do people who believe in the Loch Ness Monster (which is …
Utah Taxing PPP Relief
It is often said that there is no such thing as a free meal. While the Federal Government tried to give businesses a free lunch, the State of Utah still wants you to leave a tip. In a surprise announcement from of Utah, the state will be treating any forgiveness of the Paycheck Protection Program …
Cash or Accrual Accounting?
When setting up your business, which method is right for you? Small businesses are required to determine if they will file as a cash or accrual based business when they submit their first taxes. Deciding if you should elect to be a Cash or Accrual based business may seem like a simple question for the seasoned accountant, …
