Tennessee business owners face triple taxation, but with the right strategies, it’s possible to reduce tax burdens and keep more of your hard-earned income.

Unusual tax deductions, like guard dog expenses and cat food for mousing, have mixed success. Research and professional advice ensure your deductions are legitimate—Genovations Accounting can help.

Taylor Klummer, a restaurant broker, emphasizes the importance of clean financial records for accurate valuations and successful sales. He shares his personal experience of selling his own restaurant and becoming a broker. The Podcast discusses the role of brokers in providing guidance to restaurant owners and the benefits of buying existing restaurants…

Filing a tax extension with the IRS allows individuals extra time, up to six months until October 15th, to submit their tax returns without penalty, although it doesn't extend the time to pay any taxes owed. Options for requesting an extension include using tax preparation software, filing Form 4868 electronically or by mail, and making payments via the Electronic Federal Tax Payment System (EFTPS)…

Gabby Parker and Chris Cameron discuss Tennessee taxes, including state taxes and franchise and excise tax. They cover filing state business taxes through TenTap and the decision to itemize deductions. The conversation also touches on the implications of quarterly tax payments and the importance of considering time as money in tax preparation. They highlight the benefits of hiring a firm for personal and business taxes and stress the importance of keeping business financials up to date.

Gabby Parker and Chelsea Kagey discuss tax topics in a podcast for small business owners, covering required documents, IRS penalties, reasons for denial of tax returns, deadlines, and helpful deductions. They emphasize the importance of accurate records and staying informed about IRS regulations.