Why do I need a tax professional when I can buy tax prep software?
Question: Why do I need a tax professional when I can buy tax preparation software? Answer: Tax software producers claim their products...
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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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Mark S Gleason CPA
- Aug 8, 2021
- 1 min
The Strength of an Accounting Professional
Having a good accountant can do more than just prepare your tax return. He or she can assist you with - accounting and recordkeeping...
Mark S Gleason CPA
- Jul 31, 2021
- 1 min
$1.2 Trillion Bipartisan Infrastructure Deal
It's not a done deal yet, but the procedural vote taken by the U.S. Senate on July 27 gave the infrastructure bill fresh legs. The 67-32...
Mark Gleason, President & CPA
- Jul 5, 2021
- 2 min
Where's My Refund?
The IRS is still broken. People are still upset. As of the last day of the extended 2021 tax season, the IRS had a backlog of over 35...
Mark Gleason, President & CPA
- Jun 5, 2021
- 1 min
100% Deduction for Business Meals
Usually, only 50% of the cost of a business meal is deductible. The Consolidated Appropriations Act of 2021 dispenses with the 50%...
Mark S Gleason CPA
- Apr 29, 2021
- 1 min
Update - SBA to Open Apps for RRF Grants May 3
Restaurant Revitalization Fund (RRF) is about to open for applications. The SBA announced on their website that "Registration for the SBA...
Mark Gleason, President & CPA
- Apr 22, 2021
- 2 min
Only 2% of Calls to IRS Get Through
IRS taxpayer service is terrible. It's not the IRS's fault - the fault for this lies at the feet of Congress for failing to provide...
Mark Gleason, President & CPA
- Apr 21, 2021
- 1 min
Get Ready to Apply for Your Restaurant Revitalization Grant
The Small Business Administration is getting ready to accept applications for tax free grants to be paid from the $28.6 billion...
Mark Gleason, President & CPA
- Feb 28, 2021
- 2 min
Some Businesses Rely on Line of Credit to Escape Damages Caused by Pandemic
As businesses attempt to work their way through to a post-pandemic world, there are various means to bridge the financial gap. As...
Mark Gleason, President & CPA
- Feb 6, 2021
- 2 min
The IRS is Broken: People are Upset
My friend Art called me last week to tell me that he received a notice from the IRS demanding that he file his 2019 tax return. Art ...
Mark Gleason, President & CPA
- Jan 22, 2021
- 2 min
IRS Identity Theft Season is Real.
Each year thieves try to steal billions in federal withholdings by stealing your identity. As the IRS focuses more attention on this...
Mark Gleason, President & CPA
- Jan 17, 2021
- 1 min
New Mileage Rate for 2021
The IRS standard mileage rate for 2021 was recently announced. It’s down slightly: $01.5 per mile. Additionally, the mileage rate for...
Mark Gleason, President & CPA
- Jan 16, 2021
- 2 min
Prevent Taxpayer Identity Theft
Unfortunately, tax professionals like us find ourselves on the front line in the fight against identity theft. Identity theft is rampant....
Mark Gleason, President & CPA
- Dec 29, 2020
- 2 min
2021 Brings Additional Funds for Small Businesses
The new funds allocated for this program will not last long. Because many of the flaws in the SBA’s forgivable PPP Loan program have been...
Mark Gleason, President & CPA
- Dec 27, 2020
- 2 min
Self Employed Individuals May Qualify for up to $5,110 Sick and Family Leave Pay Tax Credits
This tax credit is worth up to $5,110 can be claimed by self employed individuals. The IRS recently issued updated guidance on how ...
Mark Gleason, President & CPA
- Dec 27, 2020
- 2 min
How Does an Employer Substantiate Eligibility for COVID-related Sick and Family Leave Credits?
Section 286 of the COVID-related Tax Relief Act of 2020 (passed by Congress on December 21, 2020 but not yet signed into law by the ...
Mark Gleason, President & CPA
- Dec 26, 2020
- 2 min
Get Ready for 2021 Paycheck Protection Program
The new funds allocated for this program will not last long. Because many of the flaws in the SBA’s forgivable PPP Loan program have been...
Mark Gleason, President & CPA
- Dec 26, 2020
- 1 min
Another Round of Cash Stimulus Payments
Eligible individuals will receive $600 ($1,200 for a married couple) plus $600 for each qualifying child. Eligibility phases out for...
Mark Gleason, President & CPA
- Oct 7, 2020
- 1 min
IRS Free File
You don’t need to hire a professional tax preparer if you have a simple tax return. Most people under the age of 30 with modest incomes...
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