STG Accounting LLC

STG Accounting LLC Client-focused accounting firm: Tax, payroll, bookkeeping services for small business all 50 States.

01/26/2024

IRS season opens Jan 29th. However, just a word of caution you may not receive all your tax forms until mid February depending on if third parties are delayed in processing the filings which have deadlines Jan 31 or could be delayed in the mail. Who knows right?

Just remember that filing first doesn’t always mean your going to get your refund quicker, and waiting an extra week to confirm you’ve received all your source documents could save months of delays instead of amending or waiting on the IRS for adjustments.

Also, it is helpful to let your accountant know that you have uploaded all source documents. We may or may not know that last form uploaded was the last piece we were waiting on or if you have 2-5 more documents your still waiting on. So again, maybe send an email or text letting your accountant know that you have uploaded all source documents and it may actually speed up the processing of your return significantly.

Looking forward to a great tax season. We still have a few spots remaining for the tax year. Visit our website and you can schedule a free consultation to see if we are a good fit for your needs.

11/05/2023

Have you met with your accountant yet for tax planning? Also, just remember if we don’t know where your business profit/loss is or how much tax you’ve withheld or what estimated payments you’ve made then try and get an idea of what your agi is or else accountants aren’t going to be able to properly assist.

If your accountant is also planning but not asking questions about the years events or future events then how are they truly helping you plan?

We need data to plan and a good accountant will ask questions. Otherwise why are you paying your accountant? Use an online tax calculator at that point and save your money for the holidays or business investments.

08/22/2023

September 15th Partnership and S corps are due if they were extended. Most people don’t know but if you don’t file each partner, per month gets penalized $220 and continues for up 18 months or until filed.

Also, if your an s corp and had no sales or any activity (LLC taxed as an S Corp is included) you are still required to file all zeroes. (Many people don’t know this) but still file deductions so you don’t lose them.

If your a partnership/llc you are not legally required to file unless you have $400 gross receipts. But you will want to if you have deductible expenses so they aren’t lost.

September 15th is the most expensive deadline for small businesses. It’s okay to pester your accountant if you have a September 15th deadline.

Side note: 2022 is the record number of extensions filed. There’s a lack of accountants and also the IRS is years behind.

Make sure to file to avoid penalties!

08/17/2023

Accountants are a dying breed according to statistics. Trust me, I didn’t want to be an accountant as a kid either but fell into it.

Just curious why do people not like accounting or want to be an accountant especially one that owns their own firm?

Would love to hear some thoughts. I know the stereotype is accountants are boring and good at math but honestly day to day we don’t do too much math and we like to have fun and go out just like others.

Reply below if you thought about accounting before or why you’d never be an accountant. I’d love to hear feedback.

08/10/2023

Would a flat tax or lower marginal tax brackets be better for the US?

With the above question it is important to note that 40% of Americans as of 2022 with the prior two years (2020/2021) being over 50% of Americans not having any income tax obligation.

So is it fair to tax everyone at the same rate or continue with a substantial percentage of Americans not paying any income tax?

08/03/2023

When was the last time your accountant or any business advisor texted or called to just check in with the business? If so, how often per year does that take place?

We get asked all the time “What is the best way to save money on your taxes?” The answer is simple yet not sexy. It’s go...
07/23/2023

We get asked all the time “What is the best way to save money on your taxes?”

The answer is simple yet not sexy. It’s good bookkeeping to avoid missed deductions, reduce audit risks, and also budget which helps generate profit and making healthy business decision. Here is an article with some critical mistakes we see all the time.

Give us a call or setup an appointment for a free consultation and tax return review.

Address

169 West 2710 South Circle Suite 202A
Saint George, UT
84790

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm
Saturday 9am - 5pm
Sunday 9am - 5pm

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