5 Tax Saving Tips for 2019
Tax season can be a stressful time as we think about paying our taxes. Reducing the taxes you owe may be easier than you think and it’s about more than saving money. It can help …
3 Last Minute Moves to Reduce Your 2019 Taxes
Can you believe 2019 is winding down already? If you want to make the most of your taxes this year, here are three things you can do before the year ends (and one even after …
How Will the New Postcard Form 1040 Affect Your Taxes?
You may remember a lot of speculation and talk about a new simplified tax form that fits on a postcard. Like much of the recent Tax Cuts and Jobs Act that inspired the new Form …
How Will the New Postcard Form 1040 Affect Your Taxes? Read More »
Three Great Ways to Reduce Your Tax Bill
While some taxpayers play the game of questionable tax deductions, many more hesitate to take perfectly legitimate tax breaks because they don’t understand the tax code and are afraid it will trigger an audit. As long as you’ve kept good records and followed IRS guidelines, the possibility of an audit…
How Does the New 20 Percent Pass-Through Deduction Apply to Your Business?
If you’ve been keeping an eye on the new Tax Cuts and Jobs Act, you probably know about the 20 percent deduction of qualified business income (Sec. 199A) for pass-through entities. Here is a brief summary, just in case you did not. Most C Corporations are getting a tax rate reduction…
Get the Most Out of Your Taxes with Tax Planning
If you’re like a lot of business owners, you try not to think about taxes until tax day approaches. Why go through the stress, right? Unfortunately…
Can Your Small Business Still Take Meals and Entertainment Deductions?
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…
Questions to Ask Tax Preparer
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.
Bitcoin Profits Create Taxing Questions
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?