Blog | Lucrum by PFCPA

Oct 295 min read

Why It’s a Smart Move for Small Businesses to Hire an Accounting Firm for All Accounting Tasks and Profit Planning Strategies

Running a small business can feel like being the captain of a ship. You're navigating your business through choppy waters, managing...

Aug 233 min read

Should I Be Afraid of Automated Collection Notices?

Automated collection notices are essentially reminder letters sent by creditors to inform you of overdue payments.

Aug 133 min read

Why Should I Grant Power of Attorney to My Accounting Firm?

Granting power of attorney to your accounting firm might sound intimidating, but it’s a strategic move that can save you time, reduce stress

Aug 73 min read

What Do I Do If I Missed the Q2 Estimated Tax Payment Deadline?

Missing a payment deadline is a common hiccup for many, especially busy professionals.

Jul 12 min read

IRS Private Debt Collection: How Collection Agencies Are Involved

The IRS employs private collection agencies (PCAs) to manage certain overdue tax debts.

May 235 min read

IRS Steps Up: A Closer Look at the Non-Filer Compliance Initiative

This summer, the IRS will be escalating its efforts to address the mounting issue of non-filers, individuals who fail to submit their annual

Apr 94 min read

Understanding the Corporate Transparency Act and Beneficial Ownership Information (BOI)

Mandatory reporting for millions of small businesses. As of January 1, 2024, the CTA mandates millions of small businesses to file a Benefic

Apr 94 min read

Protect Yourself from AI Voice-Cloning Scams

Advancements in artificial intelligence have made it possible to replicate human voices with remarkable accuracy.

Mar 223 min read

The Impact of Tax Code on Small Businesses: Understanding the Basics

The federal tax code is incredibly complex—so complex that it covers almost 7,000 pages. Added to the U.S. tax regulations, which are the...

Mar 202 min read

The Essential Role of Accounting in Tax Preparation

Accounting plays a crucial role in the daily routine of financial tasks and efficient tax planning and preparation. Failure to comprehend...

Oct 6, 20232 min read

Is your business a Wealth Engine?

What is a wealth engine anyway? This might be easier to explain if we talk about what isn’t a Wealth Engine. Debt isn’t Wealth. If your...

Sep 20, 20234 min read

Can you be excited about taxes?

TAX EXCITEMENT??? Really? Yes, really! I believe that every great business owner deserves to positively look forward to finding out how...

Jul 5, 20236 min read

Why Focus on Bank Balance?

Great business owners need to have a clear focus on their Bank Balance. When I talk about a clear focus on Bank Balance, it is more than...

Jun 22, 20234 min read

What Do Great Business Owners Deserve? A Powerful Financial Firewall.

So many attorneys open their doors because they have experience in a big firm and are ready to venture out on their own and so they hang...

May 25, 20237 min read

Tax Planning for a Summer Trip

Summer is a time when many lawyers decide to take a well-deserved break from their busy schedules. But what if I told you that you could...

Apr 27, 20234 min read

Is a Gift a Tax Deduction?

I get this question a lot, and the answer is, “It depends.” How great is that? Well, let me explain further but first let’s iron out a...

Apr 3, 20235 min read

Austin, TX: Home of The World Golf Championships-Dell Technologies Match Play

We all know who Dell is, the technology company founded by Michael Dell, with their base of operations in Austin, Texas. Most golf...

Mar 20, 20234 min read

Safe Harbor for Tax Extension Payments

Here are the Safe Harbor rules on how to pay in enough on your taxes so that when you extend, the IRS won’t impose an underpayment...

Mar 6, 20234 min read

Filing an Extension For Your Taxes Is Not an Extension To Pay

Before we get started there are a few important definitions we need to have straight on this topic. The tax deadline is not the same as...

Feb 23, 20233 min read

When Is the Best Time To Switch To an S Corporation?

Most businesses start with one owner and one employee and they are usually the same person! Some businesses are even started as a side...

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