New COVID-19 Relief Bill & Stimulus Checks

Tax Accountant Brandon, MS

In response to economic hardships caused by COVID-19, lawmakers finally struck a deal on a near-trillion-dollar economic stimulus package. The most anticipated aspect of Covid-relief is the issuance of direct stimulus checks to taxpayers and their dependents. The measure includes an extension of unemployment benefits previously set to expire at the end of the year. The package also includes extensions of earlier pandemic relief programs such as rent assistance and PPP loans. Although the bill still needs to pass the House and Senate, there are numerous implications to explore ahead of voting. What does this new stimulus package mean for you?


The Power of Payroll Service

Payroll service Clinton, MS

Payday is a day of rejoice for your employees. For many small business owners, however, payday spells out an extended workday full of number crunching and hair pulling. This frustration is only compounded by the possibility of payroll mistakes leading to steep penalties. If only it were as simple as writing a check or authorizing a transfer of funds, you could free up hours to dedicate towards actually running your business. Fortunately, a payroll service can be the fulfilling answer to all of these troubles.


Tax Planning for Individuals & Small Businesses Plus 3 Tips to Save on Taxes Right Now

Tax preparation brandon ms


STIMULUS CHECKS – What you need to know

Stimulus Check Jackson MS

Many taxpayers have begun receiving their economic stimulus checks this week but there is still a lot that is unknown about these payments. Here are some frequently asked questions about these payments and what you need to know.



Payroll Provider Jackson MS

Payroll taxes can be a very detailed and confusing part of owning a small business. This is a basic guideline to follow when beginning payroll for your small business.



Madison Tax Accounting
Accounting questions

In these strange and uncertain times nothing is concrete, not even our tax filing deadlines. On March 11, it was announced that the treasury secretary was working with President Trump to extend the March 16th small business deadline, and also the April 15th individual deadline. On March 17th it was confirmed that individuals could delay payment of their taxes by up to 90 days. The filing of their returns is set to remain April 15th. This includes small business returns as well, with their payment deadline pushed back 90 days from their original March 16th deadline. If you owe on your taxes all interest and penalties will be waived during that 90 day period as long as the return was filed timely.


7 Accounting Mistakes You Could be Making as a Small Business Owner


Thanks to the improvements in the realm of DIY bookkeeping and accounting software, it is getting “easier” than ever for owners to handle their small business bookkeeping on their own. But is it really easier?



Tax Savings

Our tax code is often a confusing jumble to rules and percentages. It’s hard to tell if something is tax deductible or not without some advanced knowledge of tax. And of course, they change things up on us all the time. We at Watkins and Company have gathered a list of some of the lesser known deductions that can be taken for your 2019 taxes


Is it Time to Hire a Bookkeeper??

Flowood Bookkeeper
Madison, MS Bookkeeping

We hear it often in our Industry “I wish I had hired you guys sooner!” but how do you know when it’s the right time to transition from doing your books on your own to hiring an accounting firm? There are some major benefits to hiring an accounting firm with bookkeeping services:


Tax Planning for Year-End

Tax Prep Ridgeland MS

As 2019 winds down, it’s a great time to take a look at the year as a whole and begin to set your goals for 2020. Tax Planning is something that you should definitely be doing as 2019 closes. The proper tax planning can help you pay the least amount of taxes that you can.


Watkins took one of the biggest headaches in my business and made it simple! Excellent, consistent results.

-Travis – Brandon Mississippi