Nick Chrestenson Interview: Tax Tips for Small Business Owners from The Walker Tax Group
One of the cool parts of my job is the opportunity to learn about local businesses and area professionals ´— including Deidrie Kinnunen, owner of The Walker Tax Group in Hamilton.
She's a second-generation tax expert, according to her company profile, as her mom opened a tax resolution company in 1990 after 18 years with the IRS. Now, Deidrie has earned the highest credential from the IRS (enrolled agent) and can defend clients before the IRS. The Walker Tax Group helps individuals with their tax returns and tax mediation/resolution, but they also offer bookkeeping and payroll management and business tax preparation.
My income taxes are pretty simple at this point, so when I got a chance to talk with Deidrie, I asked her about something much more complicated — small business taxes.
How could a Paycheck Protection Program loan affect my taxes and deductions?
The PPP loan can affect your tax outcome in a number of ways. The deciding factor will be determined by how you used the funds and if you were granted forgiveness for the loan.
What are the biggest mistakes that small business owners tend to make in preparing their taxes?
Not hiring a professional to prepare their taxes. A professional will not only be able to maximize your deductions but will be the most informed professional in this ever-changing tax climate.
The Walker Tax Group really can save you headaches now AND later by handling payroll, bookkeeping, and tax matters for you so you can focus on the fun parts of running your business.
Learn more at thewalkertaxgroup.com or by calling 406-961-9616. They have the experience and expertise to take the stress out of tax preparation!
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