Accounting and tax software are getting more advanced. It’s amazing what these programs can do and there is a constant stream of new applications with new, added functions. It makes some people wonder if they even need an accountant…
As part of President Trump’s tax reforms, meals and entertainment deductions are changing. These deductions have been very common for all sizes of businesses for years. Taking a client to lunch or out to an event to discuss a deal, bringing lunch in for employees, or feeding the team during an office party seem like business as usual. With the new…
There are various types of tax return preparers, including certified public accountants, enrolled agents, attorneys, and many others who don’t have professional credentials. You expect your preparer to be skilled in tax preparation and to accurately file your income tax return.
Are Bitcoin Profits Taxable? As tax season approaches, it may not be immediately clear how the IRS imposes taxes on Bitcoin: Are the profits income? Are they capital gains or something else entirely?
The Senate and the House of Representatives have passed the Tax Cuts and Jobs Act, which contains many provisions that likely affects you. Keep in mind that all changes affecting individuals expire after 2025, and would then revert to current law. Between now and then, expect continued changes as
The Senate and the House of Representatives have passed separate versions of the Tax Cuts and Jobs Act lauded by President Trump. This leaves us with two tax reform bills that need to be reconciled before being sent to the president for final approval. Most sources expect…
The end of the year is fast approaching and now is the time to start your tax planning. The good news is that no major tax law changes took place this year. However, taxpayers may see some changes next year, as President Trump has tax reform as one of his top priorities. Here are five year-end tax strategies for 2017 that can significantly lower your tax bill. If you wait …
Bitcoin prices are booming along with most other crypto-currencies. If you own or trade Bitcoin. you are likely sitting on profits. Today I’m going to talk about how and why you should pay taxes on your Bitcoin profits.
I took a business trip to Florida with my family. What travel expenses can I deduct?
For the self employed entrepreneur and small business owner, as long as the trip was primarily for business, the costs of meals, lodging, transportation and other related business travel expenses are ordinarily deductible…