Atlanta Accounting Associates

As tax laws continue to change, businesses must adapt their strategies to stay compliant and maximize savings. In 2025, bonus depreciation continues to phase out, dropping to 60% for qualified assets, making tax planning more crucial than ever. Additionally, some states do not recognize bonus depreciation, requiring businesses to adjust for MACRS or Sec. 179 deductions. Another key change is in business meal deductions. The 100% deduction for restaurant meals is gone, and businesses can now only deduct 50% of eligible meal expenses. Entertainment expenses remain non-deductible, so reviewing your spending strategy is essential. Need to adjust your tax strategy? Let Atlanta Accounting Associates help you navigate these changes and keep your finances optimized. Book a consultation today! ?? Drop a comment or DM us to get started! #TaxUpdates2025 #BusinessTaxPlanning #DepreciationChanges #MealDeductions #AtlantaAccounting

Report All Taxable Income and Wait for Key Documents Before Filing Tax season is here, and it's important to report all taxable income on your tax return. Be sure to wait until you’ve received all your necessary income and informational documents before filing. Common forms like 1099 from banks, payers, unemployment compensation, dividends, pensions, and retirement plan distributions are essential to accurately file your taxes. If you're receiving Form 1099-K for payments from online marketplaces or payment apps, make sure to visit resources to determine the correct amount of income to report. Stay organized and file your taxes accurately this year. Atlanta Accounting Association is here to guide you through the process!

Boost Your Social Security Benefits: Consider Withdrawing Your Application! If you’ve started collecting Social Security early and have since returned to work, you might want to?withdraw your application?for a significant future benefit increase. How Does It Work? For those who retired early (between early eligibility age and Full Retirement Age), it’s possible to?withdraw your Social Security application within 12 months?of approval. While this process does require?repaying all the benefits you’ve received—including money withheld for Medicare premiums—the long-term benefit increase can be worth it. ?? ?What Happens After You Withdraw? By withdrawing and waiting to reapply later (ideally at?age 70), your monthly benefits will be?substantially higher?due to: ?A 30% increase?for waiting until full retirement age. ?An additional 24% boost?from delayed retirement credits accumulated over the years. ?? Example: John, age 63, retired early and started collecting his Social Security benefits. After securing a full-time job offer, he realized that returning to work would allow him to earn more in the future. John decides to withdraw his Social Security application using?Form SSA-521. Although he will have to repay the benefits he received, including the Medicare premiums, he’s now positioned to reapply at age 70 and enjoy higher benefits for the rest of his life. Is This Right for You? Withdrawing your Social Security application might seem like a hassle, but for many, it’s a smart financial move. If you’re in a situation where?delayed benefits will help secure a more comfortable retirement, it could be well worth the effort. ?Are you considering withdrawing your Social Security application? Let us know your situation in the comments! #SocialSecurity #RetirementStrategy #FinancialPlanning #RetirementSavings #TaxTips

?Beware of Tax Scams This Season!? Tax season is prime time for scammers trying to trick people with false promises, threats, and identity theft schemes. Stay alert and?protect your personal and financial information. ?Watch out for: 1?? Too-good-to-be-true refunds?– Misleading tax advice on social media can convince people to?lie?on tax forms or claim credits they’re not eligible for. ?2?? Threats & urgency?– Scammers may?impersonate officials, demanding immediate payment or threatening arrest, deportation, or legal action. ?3?? Fake websites & misspelled links?– These can lead to?fraudulent sites?designed to steal your information. 4?? Tax-related identity theft?happens when someone?uses your personal details to file a fraudulent tax return.?If you suspect this, continue filing your return and?report the issue immediately. Atlanta Accounting Association?is here to help you file safely and avoid scams. Stay informed and protect yourself! #TaxScams #StaySafe #IdentityTheft #TaxFiling #AtlantaAccounting

SEC’s New Audit Rules: What It Means for Businesses & Accountants! ??? The SEC (Securities and Exchange Commission) has introduced major audit reforms in 2025, raising the bar for financial transparency and accountability. These changes aim to enhance investor confidence, improve financial reporting, and hold companies to higher audit standards. What’s Changing? ? Stricter Audit Oversight – Large firms must now submit detailed financial statements directly to regulators. ? Enhanced Transparency – More disclosures mean greater trust in financial reporting. ? Stronger Compliance Requirements – Companies must follow tighter internal controls to meet the new audit expectations. How Will This Impact Businesses & Accountants? ?? For Businesses: More compliance work, but greater investor trust. ?? For Accountants & Auditors: Higher reporting standards = more opportunities for advisory & compliance services. ?? For Investors: A clearer, more reliable financial landscape. Hot Topic: Will these rules strengthen the industry or add more regulatory burden? Drop your thoughts below! #SECRegulations #AuditRules #FinancialTransparency #AccountingReform #Compliance #BusinessGrowth

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Every mistake you thought would be the end pointed you toward an incredible success. In fact, according to Paul Hudson, you hear it all the time: people hitting rock bottom before they bounce back up and soar. You must make room for the new by ridding yourself of the old. Unfortunately, when things do fall apart for a person, they break down in a rather devastating way. Staying positive when your world is crumbling around you is no easy task. Yet, in the end, you will see that every negative thing that happens is pushing you toward the next phase of growth in your life. As JK Rollings puts it, rock bottom became the solid foundation on which I rebuilt my life. Rock bottom is often a sign to turn your life around or go in a different direction, and in hindsight, you only become aware of it when the storm has passed. On your life journey, you will experience setbacks, failures, and rejection. However, how you react to these experiences will determine whether you grow from them or sulk in self-pity. ? Always remember that obstacles and rejections are merely stepping stones to something great. Continue to believe in yourself and never give up on your goals and your dreams. Check out our new Amazon Best Seller, "Unlock The Hidden Leader, Become The Leader You Were Destined To Be," by simply clicking the link below. https://geni.us/4JmlQU #leadership?#management?#leadershipdevelopment?#employeeengagement?#leaders?#people?#leadershipfirst?#leadershipfirstquotes?#executivesandmanagement?#inspiration

Look for something positive every day. Check out our new Amazon Best Seller, "Unlock The Hidden Leader, Become The Leader You Were Destined To Be," by simply clicking the link below. https://geni.us/4JmlQU #leadership #management #leadershipdevelopment #employeeengagement #leaders #people #leadershipfirst #leadershipfirstquotes #executivesandmanagement #inspiration

?Small Business Success Starts with Smart Accounting!? Running a small business is exciting but managing finances? That’s a challenge. Without professional accounting support, businesses risk?cash flow issues, tax penalties, and financial mismanagement. Why Small Businesses Need Expert Accounting Help: ?1?? Save Time & Focus on Growth?– Let accountants handle the numbers while you focus on business expansion. 2?? ?Stay Tax Compliant?– Avoid costly mistakes with accurate tax filing and deductions. 3?? ?Better Financial Decisions?– Get clear insights into your finances for smarter investments. ?4?? Manage Cash Flow Efficiently?– Ensure your business has enough cash to operate smoothly. A strong financial foundation is the key to sustainable success!?Is your business ready for expert financial guidance??Let’s talk!?