Glover Tax Professionals, LLC

08/26/2026

🌿 **CLIENT EDUCATION WEDNESDAY** 🌿

⚠️ **Common Payroll Mistakes That Can Cost Your Business**

Payroll is more than calculating hours and writing a paycheck. From worker classification and tax deposits to overtime, payroll records, and filing deadlines, even small mistakes can turn into bigger—and potentially expensive—problems for a business. 💵

Some common trouble spots include **misclassifying employees as independent contractors, missing payroll tax deposits or filings, calculating overtime incorrectly, using outdated employee information, and forgetting about state payroll requirements.** Take a look at this week's graphic 👇 for some common payroll mistakes every employer should know about.

💡 **The takeaway:** A good payroll system isn't just about getting employees paid—it's about getting them paid **accurately, consistently, and compliantly.**

💬 **Business owners: Which part of payroll do you find the most confusing?**

🌿 *Client Education Wednesday — Helping you make informed financial decisions, one topic at a time.*

08/25/2026

🌿 **Tax Tip Tuesday: Retirement Contributions Can Be a Powerful Tax-Planning Tool!** 🌿

Contributing to a retirement account isn't just about preparing for the future—it may also play an important role in your tax strategy.

Depending on the type of retirement plan and your individual circumstances, contributions may offer benefits such as **tax-deferred growth, potential current-year tax deductions, reduced taxable income, or tax-free qualified distributions in retirement.** For business owners and self-employed individuals, retirement plans can also provide opportunities to save for the future while incorporating retirement funding into a broader year-end tax strategy.

The key is **planning before contributing**. Different accounts—including Traditional and Roth IRAs, SEP IRAs, SIMPLE IRAs, 401(k)s, and other employer-sponsored plans—have different eligibility requirements, contribution limits, deadlines, and tax treatment. The strategy that works well for one taxpayer may not be appropriate for another.

💡 **Tax Tip:** Don't wait until tax filing time to start the conversation. Reviewing retirement contribution opportunities before year-end can give you and your tax professional more options for proactive planning.

⚠️ **Important Disclaimer:** Retirement plan eligibility, contribution limits, deductibility, and tax treatment vary based on the taxpayer and type of plan. All retirement contributions and related tax-planning strategies should be discussed with your tax professional before making decisions, as every tax situation may differ.

08/24/2026

Filed an Extension? The Clock Is Ticking.

An extension may have given you more time—but that extra time is quickly running out! ⏰🌿 If your 2025 business or personal tax return is still on extension, now is the time to get it back on your radar.

Our team is here to help with **business and individual tax preparation**, but please don’t wait until the deadline is knocking on the door. If you still need to file, start gathering those documents and reach out to us now so we can get you taken care of. 📂

08/23/2026

08/20/2026

💻 **QuickBooks Thursday: Expense or Fixed Asset?**

Your business buys a $12,000 piece of equipment. You paid for it, so it's a $12,000 expense…right? **Not necessarily!**

Some purchases provide value to your business for more than one year—think vehicles, machinery, equipment, furniture, and certain improvements. These may need to be recorded in QuickBooks as a **Fixed Asset** rather than immediately recorded as an expense. Fixed assets are generally reported on your **Balance Sheet**, with their cost recovered over time through depreciation when applicable.

Why does the classification matter? Recording a fixed asset as an ordinary expense can **overstate your expenses, understate your profit, and leave assets off your Balance Sheet**. That can affect tax preparation, financial analysis, lending, and your ability to see what your business actually owns.

💡 **QuickBooks Tip:** A large purchase isn't automatically an expense. If you purchase something your business will use for more than one year, save the documentation and make sure it's classified correctly.

08/19/2026

🌿 CLIENT EDUCATION WEDNESDAY 🌿

Have you ever looked at a paycheck and wondered, “Where do all those payroll taxes actually go?” 💵🤔 Payroll taxes help fund programs like Social Security, Medicare, and the unemployment system—but employees aren't the only ones paying. Employers have payroll tax responsibilities of their own, too!

Understanding payroll is an important part of understanding the true cost of having employees. Take a look at this week's graphic 👇 to see where payroll taxes go, what's withheld from employees, and what employers may be responsible for paying.

💬 Did you know employers generally pay payroll taxes in addition to the amounts withheld from an employee's paycheck?

🌿 Client Education Wednesday — Helping you make informed financial decisions, one topic at a time.

08/18/2026

Keeping your financial documents organized digitally isn’t just about convenience—it can also help make your records more **audit-ready**. Saving receipts, invoices, bank statements, and other supporting documents in an organized digital system makes it easier to connect transactions to the documentation that supports them. Instead of trying to locate paperwork months or even years later, you can have the records you need readily available.

Good recordkeeping doesn’t necessarily reduce your chances of being selected for an audit, but it **can make responding to one much easier**. When documentation is complete, organized, and accessible, your tax professional can respond to requests more efficiently, substantiate items reported on your return, and potentially help bring the audit to a resolution more quickly. Think of digital organization as more than going paperless—it’s about creating a stronger financial recordkeeping system for your business.

08/17/2026

Thinking about starting a business? 💡🌿 There’s a lot more to building a strong business than having a great idea and making your first sale. Some of the decisions you make at the very beginning can follow your business for years.

A little planning now can save you a whole lot of frustration later. Before you jump in, take a look at **7 things we wish every new business owner knew from day one.** 👇 And if you’re already in business—how many of these do you wish you’d known when you started?

08/16/2026

🚨 SCAM ALERT: FAKE IRS DIGITAL ASSET NOTICES 🚨

We want our clients and community to be aware of fraudulent communications circulating that claim to be from the IRS and direct taxpayers to a “digital asset” portal or website.

Scammers are constantly changing their tactics, and tax-related scams can look very convincing. Do not automatically assume a notice, email, text, QR code, website, or payment request is legitimate simply because it uses the IRS name or logo.

⚠️ If you receive something claiming to be from the IRS:

* Do not click unfamiliar links or scan QR codes.
* Do not provide Social Security numbers, banking information, passwords, or other sensitive information through an unfamiliar portal.
* Do not make a payment until you have verified the communication.
* Keep the notice, letter, email, or message so it can be reviewed.

🌿 Glover Tax Professionals clients are always welcome to bring IRS notices and other tax-related communications by our office. We would much rather take a few minutes to review something with you and help determine whether it is legitimate before you respond, provide information, or make a payment.

Scammers rely on urgency and confusion. When in doubt, verify first and act second.

Glover Tax Professionals, LLC
Helping our clients navigate taxes with confidence.