The Financial Foundations of a Thriving Cannabis Business
Navigating the ever-expanding cannabis industry can be as exhilarating as it is challenging. Whether you’re just stepping into this world as a new licensee or…
Innovative Giving: Exploring the Flexibility of Donor-Advised Funds
Secure Your Tax Benefit Now and Guide Charitable Efforts Tomorrow Making a large charitable donation can be both a generous gesture and a strategic financial…
Corporate Jets and the IRS: Making Sense of Airplane Tax Regulations
With the world of business travel in full swing, the appeal of having a corporate airplane grows stronger. Imagine no more waiting in lines, no…
Secure Your Tomorrow: How IRAs Can Shape Your Retirement
Mapping out your financial future is a necessity, and it’s important to make it a priority now. Without proper planning, the path to retirement can…
Life Insurance Benefits: How to Avoid Estate Taxes
For many, life insurance is a practical safeguard, promising to support loved ones in the event of untimely passing. However, the complexities of estate tax…
Starting a Business? Don’t Miss These Tax Essentials
Embarking on the journey of starting a new business is both exciting and daunting. While you might be enthusiastic about your product or service, the…
Tax Rules and Tasty Bites: Navigating Business Meal Deductions
Picture this: you’re at a restaurant, discussing a potential deal with a client, celebrating a milestone with your team, or maybe even strategizing with a…
Accounting | Cannabis | News
Smith Patrick Cannabis Accounting Expert to Present at Lucky Leaf Expo, St. Louis, MO
Sarah Bantz, CPA, Shares Cannabis Accounting Expertise The leading cannabis expo, Lucky Leaf, is coming to Missouri on Oct. 6-7, 2023. Smith Patrick’s Sarah Bantz,…
Tax Saving Strategies for Nature Lovers: Conservation Easements and You
Interested in helping to conserve land for public use or preserve an historic structure from real property that you own? If you feel a deep…
Maximize Your Savings: Homeownership Tax Deductions and Programs
As summer winds down, new homeowners are getting settled into their properties. Beyond the excitement of this transition, it’s also an opportune time to dive…
Accounting | Cannabis | Consulting | Tax
Missouri Marijuana 2023 Tax Update: Rays of Hope
In a significant development for the cannabis industry, licensed marijuana businesses in Missouri are now permitted to bypass 280E for state tax filings. This new…
Unmasking Sham Trusts: A Closer Look at Tax Evasion Dangers
Estate planning and tax optimization go hand in hand, enabling individuals to secure their financial future while minimizing tax liabilities. Amidst the realm of legitimate…
Business Travelers: Unlocking Tax Deductions Before Hitting the Road
Traveling for work can be both exciting and demanding. Whether you’re attending conferences sporadically or find yourself constantly on the road, it’s crucial to understand…
Renting Your Vacation Home? Here’s What You Need to Know About Taxes
Does it make sense to rent out your vacation home for part of the year? How does it impact your tax deductions? Are you contemplating…
Summer Moves and Taxes: Unlocking the IRS Exclusion for Home Sellers
Summer is “moving season” for many people, as they sell one home and move to another. As the warm weather beckons, individuals and families seize…
Boost Employee Retention and Slash Taxes: Discover the Pension Plan Tax Credit for Small Businesses
Gain better employee retention while lowering your tax bill with the Pension Plan Tax Credit Attention small businesses: you may be able to claim a…
Summer Fun and Tax Breaks: Deducting Day Camp Costs Under the Child and Dependent Care Credit
As the summer season approaches, many parents struggle with childcare, and day camps can be a lifesaver. Did you know that some of these expenses…
Accounting | Consulting | Tax
Secure Your Financial Future: Recommendations for Disaster-Proofing Your Finances
Natural disasters can wreak havoc on your life and finances. With mudslides, landslides, severe storms, and tornadoes already happening this year, it’s important to be…
Are Frequent Flyer Miles Taxed When Redeemed?
A popular perk of business travel is earning frequent flyer miles and other promotional benefits. Airlines, rental car companies and hotels have rewards programs that…
2023 Tax Scams (Part 2): How to Protect Yourself from Fraudsters
With tax refund season in full swing, it’s important to be cautious and aware of potential scams. Scammers are always looking for ways to steal…
IRS Warns of Top Tax Scams for 2023: How to Stay Safe
With tax payers feeling the crunch as tax season comes to an end, it’s a ripe time for scammers to strike. The Internal Revenue Service…
Protecting Your Gifts with Crummey Trusts
Are you concerned about giving significant amounts of cash to your children or grandchildren and not knowing how they will use it? A Crummey trust…
How Smith Patrick CPAs Is Guiding Missouri’s Cannabis Entrepreneurs through the Tax Maze
The Missouri cannabis industry is growing, and Amendment 3 has brought new tax deductions for marijuana businesses. Smith Patrick CPAs, a cannabis-focused CPA firm, is…
Reduce Your Tax Bill on New Business Startup Costs: Here’s How
Starting a business is an exciting and challenging endeavor, but it’s important to keep taxes in mind. Whether you’re just getting started or already up…