Tax Smart Advisors Blog

Accounting and tax tips, updates and the latest news for small business owners and individuals.

Starting a New Business?

Congratulations! You've decided to start your own business. Now what? Unfortunately, starting a business is not as simple as choosing a name and selling your products or services. There are several steps you need to take - register your business with the state, get a...

Is It Really the IRS at Your Door?

You hear a knock at your door and the person on the other side says they're with the IRS. Is it really the IRS or is it a scam? While it's true that the IRS initiates most contact with taxpayers via regular mail, there are circumstances when an IRS representative may...

2023 Mileage Rates Are Here

The 2023 mileage rates have been announced by the IRS... Standard business mileage increased to 65.5 cents per mile. Medical and moving mileage remain at 22 cents per mile. Charitable mileage stays at 14 cents per mile. Whether you track your mileage on paper or use...

Beware of Employee Retention Credit Scams

Have you been contacted by a third party and advised that your business is eligible for the Employee Retention Credit? If so, proceed with caution... Many businesses are being advised to claim the credit, but don't actually qualify for it. Often, these third parties...