Among the key pillars of financial management, tax preparation and accounting hold a special place. Tax preparation and accounting are not just administrative tasks; they are the backbone of a small business’s financial health and growth potential.

Tax Time for those with a side hustle ran in Biltmore Lifestyles magazine in April on page 19. 

Have questions about the upcoming tax season? Mary L Reha, EA, founder of Arete Financial Solutions, is talking about the most important changes to be aware of for the 2021 tax filing season.

With 70 million Americans involved with a side business, knowing how to prepare for Tax Day and beyond is imperative. Even though a side hustle might be more of a hobby than a real job for many, it is still a legitimate business in the eyes of the IRS and the law. The Arete Financial Solutions team is here to help people with a side hustle maximize the tax deductions for April 15, structure their business for an even more profitable upcoming year, and put in place a strategy for maximizing profitability and growth of your future retirement funds.

According to a recent survey 45% of Americans have a side hustle in addition to their full-time job.  In Maricopa County the formation of businesses rose from 4.7% to 31.9% between 2019-2020. Whether out of necessity or passion, these side jobs will have important tax consequences come April 15.

Remember to think long-term when you see the markets dive

With all the tax changes in recent years, it’s more important than ever for law firms to be careful with accounting and filing taxes. In my business preparing corporate returns, I often see attorneys make costly errors and miss opportunities because they’re not as vigilant with their finances as they are with their core business. In order to minimize tax liability and audit risk and maximize deductions, law firms of all sizes can benefit from these 10 tips.

For business owners, the end-of-year holiday season is quickly replaced with tax season. And with the IRS pushing the opening filing date forward to Jan. 24, it’s even more important for business owners to have all their financial ducks in a row to file their 2021 return.

It’s officially tax season. 3 On Your Side’s Susan Campbell gets answers to the questions you have about what’s different for the 2021 tax year.

Tax professional with Arete Financial Solutions shares 2021 details for business tax filing

For business owners, the end-of-year holiday season is quickly replaced with tax season. And with the IRS pushing the opening filing date forward to Jan. 24, it’s even more important for business owners to have all their financial ducks in a row to file their 2021 return.

Founder Mary Reha, EA talking tax with Hubbard News Radio about tax season for corporation and personal filers

No one wants to think about estate planning, especially during the holidays, but as one year ends and a new year begins, it is an ideal time to review or create an estate plan that will save your family members money, time and headaches in the future.