Freelancing and self-employment has been growing in popularity in the past few years in the post-pandemic workplace. With perks like working remotely and setting your own hours, freelancing can seem like a dream job to some but the tax burden of self-employment is not for the faint of heart. In order to avoid major surprises [...]
Over the years, business conferences have gotten bigger and bolder. No longer mere networking events, they have turned into carnivals, concerts and technologically immersive experiences - with the price tag to match. With valuable skill developing and relationship building opportunities, companies and entrepreneurs remain interested in sending their teams to conferences, but is there a [...]
While we at Clarksilva are gearing up for another crazy tax season, some others are gearing up for a different season: spring! The flowers and trees will be blooming and the birds and bugs will be returning. This got us thinking about two things: allergy medication and taxes. Outside of running a botanical garden or [...]
Ah, the great American road-trip. Hitting the open road with all the snacks, music and friends you can fit in your car to see the sights. With the increasing cost of airfare and companies looking to cut costs, more and more business travel might resemble the car trips of your youth. Whether you are an [...]
When you’re ready to move on to the next phase of your life, leaving your business behind can feel daunting. That’s where having the right succession plans come in to help both you and your team members make the transition seamlessly. Unlike the eponymous HBO show, succession can be handled smoothly and without drama if [...]
Tax season notoriously falls in the months before the April 15th deadline, where we all frantically scramble to get our books in order and our expenses accounted for. What if you could go into tax season free of stress with a clearer picture of what you can expect to owe based on strategies you’ve implemented [...]
Inflation has been a hot topic for politicians, CEOs and everyone who steps into a grocery store these days. It’s affected everything from halloween candy to holiday travel but a lesser discussed impact is on a wide variety of taxes. Each year, the IRS makes adjustments for different tax provisions based on inflation. They recently [...]
Tax mistakes happen everyday - the tax code is large and complicated after all - but what happens when the mistakes are made by your spouse? For many, getting married can be financially advantageous with lucrative tax breaks and joint tax filing. Occasionally though, mishaps can happen (whether intended or not) and that's where innocent [...]
Just like Taylor Swift’s tour, the ERC era is still not over. The IRS has recently issued guidance that outlined five new warning signs that an ERC claim has been incorrectly filed, and announced a plan to reopen the voluntary disclosure program temporarily. To refresh your memory, the ERC, or Employee Reduction Tax Credit, is [...]
The IRS has been busy lately - updating its Free File program, going after high income tax evaders and now it has another thing to add to the list: updating the exceptions to penalties on early retirement plan distributions. This is especially timely as difficult economic times have people pondering whether they might need their [...]
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ClarkSilva was formed in 2019 by Keith Clark and Benjamin Silva. Keith and Ben met while working for a large regional accounting firm. During that time, they dreamed of a different kind of accounting firm. An accounting firm built with technology not volumes of books and endless stacks of paper…
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