At Pine & Co., the health of our team, clients, and families is of upmost importance. In support of community health during the COVID-19 pandemic, our team has shifted to remote work. Rest assured, this temporary operational change will not impact our services. Click here for more information.
Federal Coronavirus Relief Bill Summary

Federal Coronavirus Relief Bill Summary: How it Helps Small Businesses

By | News, Business Finance, Small Business Owners

Federal Coronavirus Relief Bill Summary: How it Helps Small Businesses Phase III of the Federal Coronavirus Relief Legislation (also known as the CARES Act) passed late on Wednesday night, March 25, and we have since been diligently reviewing the 880-page bill in an attempt to decipher what a majority of our clients, especially those classified as small businesses, need to know about the bill. Below is a summary that we have created for your convenience. Though much of the content is original, we have also relied on other publications to assist us in creating this summary. You can click each…

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Covid-19 Economic Solutions

COVID-19 Economic Solutions: Reasons for Hope

By | News, Accounting, Business Finance, Personal Finance

COVID-19 Economic Solutions: Reasons for Hope At Pine & Company CPAs, we believe there are many reasons for hope. The current plan offered by the Treasury Department would likely do wonders and keep most (if not all) businesses open in order to take advantage of economic recovery when it comes. We encourage you to take a look at the proposal by clicking below: A Current Treasury Department Proposal Pine & Company CPAs Is Here to Help We at Pine & Company CPAs are committed to supporting the success of small businesses throughout North Texas. While we are in the midst of a…

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IRS Extends Filing Deadline 2020

COVID-19 Update: IRS Extends Filing Deadline

By | News, Taxes

NOTICE: IRS Extends Filing Deadline In addition to the already-announced 90-day grace period on tax payments otherwise due on April 15th, the IRS has now extended the filing deadline by 90 days. The new deadline for filing is July 15th, 2020. This extension applies to all taxpayers who would otherwise be required to extend or file on April 15th. Thankfully, at Pine & Company, we continue to function at near-normal and full capacity thanks to our fully cloud-based operations. If you are a client of Pine & Company CPAs, we ask that you continue to work toward sending your tax-related…

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Employer Information from the Texas Workforce Commission

Employer Information from the Texas Workforce Commission

By | Small Business Owners, Business Finance

The below-pasted email was sent to all business owners and employers in Texas. It offers some good employer information from the Texas Workforce Commission. Employer Information from the Texas Workforce Commission Dear Texas Employers, With uncertainty surrounding COVID-19, the Texas Workforce Commission continues to offer Texas employers our full support. From legal questions regarding work from home policies to resources for loans, we are here to answer your questions and help ensure things go as smoothly as possible. This is not a normal email list we distribute to, but with the impact of the COVID-19, we wanted to reach out…

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How to Help Your Small Business Survive the Coronavirus Pandemic

How to Help Your Small Business Survive the Coronavirus Pandemic

By | News, Taxes

Aside from the effects it may have on our health and personal safety, the spread of COVID-19 in the U.S. has generated economic anxiety and uncertainty on a mass scale. Among those most impacted are SMB owners and entrepreneurs who wonder, “Will my small business survive the coronavirus pandemic?” As business consultants and CPAs, we urge you to stop, breathe, and calmly consider a few important developments before making hasty decisions that could negatively impact your small business in the long run. Here are a few things to know and consider before hitting the panic button: Tax Deadline Extensions Yesterday,…

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COVID-19 Precautionary Measures: A Message to Our Clients

By | News

Pine & Company CPAs will be working remotely and closing our offices for a while. Thankfully, we are already completely cloud-based so we don’t expect this change to impact our clients’ services. It’s no secret that the world is preoccupied with COVID-19, and precautions to slow the spread of this virus are being taken everywhere we turn. After a great deal of reading, prayer, and discussions with people well versed in infectious diseases, I have decided to close the Pine & Company office for the next week and possibly longer. The health of our team, our clients, and the families…

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5 Reasons Your Business May Be Audited by the IRS

5 Reasons Your Small Business May Be Audited by the IRS

By | Taxes

As a small business owner, the thought of getting audited by the IRS is probably enough to make your blood run cold. But did you know that your chances of getting audited are slim? In fiscal year 2019, an IRS report showed that only 0.45% of Americans were audited for their income tax returns. That’s 0.14% less than the year before.  This amount is also significantly less than audits performed just 9 years ago in 2010 (1.1%). While it seems like good news, the truth of the matter is this decrease is actually more driven by budget cuts in the…

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Important Changes Affecting Your 2019 Taxes

Important Changes Affecting Your 2019 Taxes

By | Taxes

The promise of spring weather means one thing: tax season is here yet again. Whether you own a business, are a full-time employee or, all of the above, preparation for your 2019 taxes is hopefully on your to-do list. While multiple streams of income is a great way to increase your earnings, it can complicate things a bit when it comes to tax planning and filing. To add to this, much of what you learned about filing taxes over the past decade or so has changed as tax codes are continually being adjusted, including the tax reform that recently took…

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Make Goal Setting Easier with the SMARTER method

2020 is the Year for SMARTER Goals

By | News

January might as well be called the Month of Goal Setting (but stick with us — we’re not talking about hitting the gym).  Now’s the time to set goals for your small business. The hope of a new year and the promise of a fresh start makes it easier to clearly see what you want to achieve over the next 12 months. But goal setting must be thought-out, planned for, and stuck to, in order to be effective. (You know how the saying goes: “If you fail to plan, you’re planning to fail!”) Harness this excitement in a practical way…

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Does My Small Business Need a Controller or a CFO?

By | Accounting, Business Finance

You’ve heard the saying. It goes something like, “Growth is a good problem to have.” This may be true, in theory, but growth that occurs too quickly can put your small business at risk. A recent Inc.com article illustrates how financial controls and cash flow can be risk factors occurring as a result of high growth. Could an outsourced CFO or an outsourced controller be the answer? Here we discuss the difference between the two and when it may be appropriate to engage both. If you’re questioning whether your small business may need help with financial management, consult with Pine…

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Small Business Tax Planning Tips for the End of the Year

A Year-End Checklist for Your Small Business

By | Business Finance, Taxes

As 2019 comes to a close, Pine & Co. can help you with cost-saving tax strategies for your small business. Reach out before December 9 to get started. As another year ends, it’s good to take time to assess the things you’ve done over the previous 12 months, while also preparing for the future. When you’re a company owner or comptroller, the fourth quarter takes on additional importance with regards to small business tax planning activities. No matter if this is your first year handling your organization’s filing or you’re a seasoned veteran, early preparation can streamline the process and…

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5 Time-Savings Tips for QuickBooks Users

5 Time-Saving Tips for QuickBooks Users

By | Business Finance, Accounting

If you’re running a small business, it’s probably safe to say you don’t have lots of extra time on your hands. With the time you do have, you more than likely want to focus on the big, inspirational, long-term goals that will grow your company (not on the small — but necessary — tasks like writing checks and invoices). When you get the chance to save a few minutes here and there on small tasks, it’s a smart move for your business (and your sanity). Accounting software like QuickBooks is a great way to eliminate hours of time on accounting…

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Little-Known Tax Write-Offs Your Small Business Could be Making

By | Business Finance, Taxes

Tax season may traditionally run from January to April 15, but preparing for tax season is a year-round job for business owners. When we discuss tax liability with clients, write-offs are one thing clients get excited to discuss (because everyone likes to save money!). Below, we explore a few of the lesser-known tax write-offs (or deductions) that correlate to things you may already be doing, but not taking full financial advantage of (such as purchasing software, hiring veterans, or even attending educational programs). Below, view our list to see if you could be missing out on valuable tax deductions this…

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Tax Credits could mean more money in your pocket.

Tax Credits Could Mean More Money in Your Pocket

By | Taxes

One of the most common questions we receive from clients is, “How can I reduce my income tax liability?” It’s no wonder – after all, no one wants to pay more taxes than they have to. Below, we’re discussing how taking full advantage of tax credits can help you retain more of your hard-earned dollars. Plus, discover the types of tax credits that could apply to you. Before we continue, it’s important to note the differences between a tax deduction and a tax credit: Tax deductions reduce your taxable income, so that when you calculate your tax liability, you’re doing…

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Recent Legislation May Affect Your Retirement Savings

Recent Legislation That Could Change How You Plan for Retirement

By | News, Retirement

Have you heard of the SECURE (Setting Every Community Up for Retirement Enhancement) Act of 2019? It swiftly passed in the House of Representatives in May, but was halted in the Senate and as of now, is still awaiting the vote. If you’re currently saving for retirement, looking to retire, or are an employer concerned with your retirement savings options for employees, it’s worth diving into this proposed legislation and learning how it can affect you. 

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