CFO Source Blog

How Tax Planning Impacts Business Success

November 11, 2024

Nobody likes paying taxes, but they are inevitable and something you need to take seriously. Filing taxes for a business can differ drastically from filing personal taxes. For your business to succeed, having adequate tax planning is paramount. At CFO Source, we have helped many businesses with their tax planning needs. We wanted to take […]

How to Prepare for This Tax Season

February 15, 2024

As another tax season approaches, it’s crucial for businesses to ensure they’re adequately prepared to navigate the complexities of tax compliance and optimization. At CFO Source, we understand the importance of strategic financial management, and we’re here to provide you with essential tips on how to prepare effectively for this tax season. Stay Organized Throughout […]

What Tax Deductions are Available to my Small Business?

January 3, 2020

Tax season is coming up, which means it’s time to get your business’s financial accounting for 2019 in order. Deductions are important for small businesses to make, as they can lower tax dues and improve your return. But what deductions are available for you to make this tax season? Take a look at our list […]

Ongoing Tax Preparations to Start Now

November 5, 2019

Tax season might be a few months away, but preparations for your business taxes shouldn’t wait until the last minute. In fact, savvy professionals utilize ongoing tax preparations to ensure perfect compliance. Here are a few ways you can get your business finances together now to ensure you’re ready for tax time. Keep Track of […]

Does Your Bookkeeping Need a Refresher?

November 1, 2018

Running a business is a complex venture with lots of different angles to consider. When you’re directly involved with running your business, the accounting processes can sometimes fall to the wayside when you’re bogged down with client meetings and other daily operations. Here are a few signs that you need to hire professional bookkeeping services […]

Use a Tax Planning Service to Save Money at Tax Time Next Year

July 2, 2018

Do you feel like taxes put a major burden on your business each year? Whether it be the financial burden, or the burden of stress that comes each spring as taxes are prepared and filed, using a tax planning service can help minimize that burden for your business. What are the benefits of a tax […]

How Do Some Companies Pay Fewer Taxes?

November 15, 2017

No one looks forward to paying taxes, whether it be personally or as a business owner. But some businesses manage to avoid certain Maryland taxes or pay less than others. How do they manage that? Keep Careful Track Good bookkeeping is a huge way businesses manage to pay less for taxes. By having a detailed […]

Understanding a Federal Tax Lien

October 10, 2017

Taxes put stress on everyone, whether it be filing taxes or paying them, the whole process can be stressful for many people. In some cases individuals are unable to pay their taxes, whether it be entirely or in part. In these cases the government can put a lien on your assets, as collateral against the […]

What is New on my Taxes in 2017?

February 17, 2017

It is that time of the year again: tax time. Every year Americans gear up for tax season starting in January, to be ready to submit their taxes by April. Each year the government releases new tax laws and deductions, often making tax time more complicated and confusing for people around the United States. But […]

Capital vs. Current Expenses: What’s the Difference?

March 15, 2016

Keeping track of business expenses can be difficult, whether you are a seasoned business owner or just starting out. But besides keeping track, for tax purposes you are also required to classify your expenses into capital and current. And it’s not always as simple as it looks. Allow our Maryland business tax preparation experts to […]