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July 2023

DEADLINE FOR RECEIVING YOUR TAX DOCUMENTS IS FAST APPROACHING! JULY 31ST IS JUST AROUND THE CORNER!

* Early filing allows you to get your refund quicker, and it allows for more time to make payments if necessary.


* Getting your information in early will allow us time to accurately evaluate and prepare the return. CPAs never like rushing through this process!


* If the information is late, we are racing against the clock to get it completed. If money is owed to the government, you have less time to pull it together.


* E-filing your taxes close to the deadline will lead to a slow down and is consistently stalled due to the IRS and FTB system limitations.

 

Deadline for HT2: For Businesses, Trusts and Individuals, we would like all information received by 7.31.2023 (earlier is better!)


With everything being delayed until 10.16.2023, we expect our fall to be one of the busiest times ever! Please submit your information sooner rather than later to avoid the crunch!

NAVAGATING THE TAX IMPLICATIONS OF REMOTE WORK:

AN ESSENTIAL GUIDE FOR BUSINESS OWNERS

As we increasingly embrace the post-pandemic era, the world of work has undergone a significant shift. Many companies have opted for remote work models, dispersing employees across various states and countries. However, while beneficial in many respects, this transition carries complex tax implications for businesses. Understanding and adapting these implications has become vital to business planning and decision-making.

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2023 Q3 TAX CALENDAR: KEY DEADLINES FOR BUSINESSES

AND OTHER EMPLOYERS

Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2023. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements.

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CHOOSING THE RIGHT ACCOUNTING METHOD FOR YOUR

BUSINESS'S PROFIT: CASH VS. ACCRUAL

As a small business owner, every decision you make can significantly impact your business’s financial health and profitability. Among your numerous choices, selecting the right accounting method for your business stands out for its importance. The accounting method you opt for shapes your business’s bookkeeping practices, affects your financial reporting, tax liabilities, and profitability, and influences your future decisions. This article aims to demystify the two primary accounting methods – cash and accrual accounting, helping you understand their implications and selecting the most appropriate one for your business’s needs.

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WHAT'S NEW AT HT2!

OUTSOURCED CFO SERVICES

FINANCIAL OVERSIGHT

Top-notch financial management is critical to running a profitable organization in any stage of growth. Yet, not every company is ready to hire a full-time in-house CFO. Hamilton Tharp bridges that gap by providing high-level financial expertise and oversight, without the commitment or cost of a full-time employee.

CFO Services 

Timely Resources & Links

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