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The latest news and advice for small businesses from Mattson Gleason CPAs, an accounting firm in Minneapolis, offering business tax services, bookkeeping and accounting.
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New Tax Law: OBBB
Here's a summary of the new provisions in the One Big Beautiful Bill (OBBB) that will affect small business entities including S...
Mark S Gleason CPA
Jul 52 min read
IRS is Forgiving Late Filing Penalties
The Internal Revenue Service recently announced blanket forgiveness of late filing penalties for 2019 and 2020 tax returns. Tax filings...
Mark S Gleason CPA
Sep 14, 20221 min read
Bad Accounting Practices to Avoid
Keeping your company books and financial records in order is a time consuming process that is a challenge for all business owners. Here...
Mark S Gleason CPA
Jul 14, 20222 min read
For IRS, Paper = Kryptonite
Recent written testimony by the National Taxpayer Advocate, Erin Collins, before The Congressional Subcommittee on Oversight, Ways and...
Mark S Gleason CPA
Apr 6, 20223 min read
After a ‘horrendous’ 2021, the I.R.S. will start the tax season with a major backlog.
The Internal Revenue Service will kick off the approaching tax season with a backlog of at least 10 million unprocessed returns from last...
Mark S Gleason CPA
Jan 18, 20221 min read
Small Business Owners Can Now Deduct State Income Taxes as a Business Deduction
We have identified a new tax savings opportunity for small business owners having “pass through income” (PTE). Partners in partnerships...
Mark S Gleason CPA
Dec 11, 20212 min read
Tax professionals should review their security protocols
As identity thieves continue targeting tax professionals, the IRS and the Summit partners urge practitioners to review the...
Mark S Gleason CPA
Dec 2, 20211 min read
Get an Identity Protection PIN
Taxpayers who can verify their identities online may opt into the IRS IP PIN program – a major expansion of the program from previous...
Mark S Gleason CPA
Dec 1, 20211 min read
Giving Tuesday: Beware of scammers using fake charities
Mattson Gleason CPAs Ltd, the IRS and the Security Summit partners warn people to avoid getting scammed when donating to charities. The...
Mark S Gleason CPA
Nov 30, 20211 min read
Cyber Monday: Protect personal and financial information online
Mattson Gleason CPAs Ltd, the IRS and the Security Summit partners remind people to take these basic steps: Use security software for...
Mark S Gleason CPA
Nov 29, 20211 min read
Businesses should implement safeguards and watch out for tax-related scams
Most cyberattacks are aimed at small businesses with fewer than 100 employees: Learn about best security practices for small businesses....
Mark S Gleason CPA
Nov 27, 20211 min read
National Tax Security Awareness Week
The 6th Annual National Tax Security Awareness Week takes place from November 29–December 3, 2021. Sponsored by a coalition of the IRS,...
Mark S Gleason CPA
Nov 26, 20211 min read
Don't Click That Link!
In honor of cybersecurity month (October), here is a reminder about the danger of clicking links embedded in emails. Cybercriminals use...
Mark S Gleason CPA
Oct 19, 20212 min read
What to do with a loan to you that has gone bad?
What to do with a loan to you that has gone bad? Question: I made a loan to a relative that will never be repaid. Can I take a deduction...
Mark S Gleason CPA
Oct 10, 20211 min read
I Need a Copy of My Tax Return
I Need a Copy of My Tax Return Retaining copies of your federal tax return is important. Not only will you need the return in case of...
Mark S Gleason CPA
Sep 26, 20212 min read
How to Defend Your Deductions
How to Defend Your Deductions Helping make the IRS auditor say yes When faced with questions on your tax return deductions, it is getting...
Mark S Gleason CPA
Sep 19, 20212 min read
I'm Being Audited!
Less than 2% of over 145 million individual tax returns filed will be selected for audit. The percentage increases for higher income...
Mark S Gleason CPA
Sep 12, 20212 min read
11 Million MATH ERROR Notices - More Bad News from the IRS
Did you get a “Math Error” notice from the IRS? Welcome to the club. The IRS reports that it has issued over 11 million “Math Error”...
Mark S Gleason CPA
Sep 9, 20212 min read
How to keep track of business car expenses?
How to keep track of business car expenses? Question: How do I keep track of the business use of my vehicle? Answer: You can use either...
Mark S Gleason CPA
Sep 5, 20211 min read
Offer in Compromise (OIC)
If the IRS has determined that you are unable to pay the full amount due to them either with your current assets or with your future...
Mark S Gleason CPA
Aug 29, 20211 min read
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