Managing payroll is an essential aspect of running a small business. However, it can be complex and time-consuming, especially for business owners who are juggling multiple responsibilities. At Commonwealth Tax & Insurance, we are a trusted tax and financial services firm serving in the central Virginia/Richmond area. We understand the challenges small businesses face when it comes to payroll. To help you navigate this process more effectively, we've compiled eight payroll tips for small business owners.

As a business owner, it's essential to have a solid understanding of the different types of taxes that apply to your business. At Commonwealth Tax & Insurance we are a trusted tax and financial services firm and we specialize in helping businesses navigate the complex world of taxes. Let's explore the various types of business tax and how they impact your financial obligations.

In the complex world of taxes, proper planning can make a significant difference in your financial well-being. Tax planning is a crucial aspect of financial management for individuals and businesses alike. At Commonwealth Tax & Insurance, a trusted tax and financial services firm serving the central Virginia/Richmond area. We understand the importance of strategic tax planning. Let's explore why tax planning is essential and how it can benefit you.

Commonwealth Tax & Insurance team wishes you a very Merry Christmas, a joyous holiday season, and a happy, healthy, and peaceful New Year 2023!

It’s no secret that running a small business is no easy feat. In addition to wearing many hats and being pulled in many different directions, small business owners also have to be extra mindful of their budget and ensure that their business is running as efficiently as possible.

As an individual or a business owner, you may have several questions and doubts in your mind about accounting and tax planning. These may pertain to your business’s progress, expenditure, and tax commitments. To clear your confusion and arm you with the information you need to make the right decisions, Commonwealth Tax & Insurance has answered some of the most frequently asked questions about tax planning. These answers are based on our personal experience so that you have first-hand information that gives you the power.

Whether you’re moving to a desirable neighborhood or making room for a growing family, moving on from your current home requires you to take important steps to ensure you and your house are ready for sale. And, as you have likely guessed, selling a house can be a complicated process. It is not only about staging your home well but it involves substantial amounts of documentation and legal procedures.

Season’s Greetings from Commonwealth Tax & Insurance. We wish you and your family a wonderful holiday season and a happy, healthy, and prosperous New Year 2022!

Filing accurate tax returns is the responsibility of every individual and business to comply with the law and avoid receiving any unnecessary reminders from the IRS. It could also ensure that you receive a sizable refund, making it all the more vital to keep good accounts.

We are delighted to announce the launch of our new website!