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Travel and entertainment are legitimate deductions, but few business owners take full advantage of them. One reason may be that they fear that the deduction will be challenged…
As we get deeper into the 2019 tax season, some taxpayers are experiencing a delay in receiving their tax refunds. The old adage that if you are expecting…
Taxpayers know that there are tax deductions out there to be utilized to reduce the taxes paid on your income. Most are aware of the common deductions, but…
In recent years, the economy has been having its share of ups and downs. When businesses and private citizens want to secure financing from financial institutions to make…
For most standard wage earners, preparing for your tax filing is fairly simple. You receive a Form W2 in the mail and unless you have other rental properties…
We’ve all heard it before. That voice on the other end of the line that states that she or he is from the United States Treasury Department and…
Most of us have heard of the term Alternative Minimum Tax, Alt Min Tax, or AMT. But what is it? Alternative Minimum Tax is a tax system that…
We’ve all thought it… Sitting on the beach in a tropical place while attending a quick meeting via your laptop before hitting the waves in the afternoon sun. …
As the IRS has noted in its alerts to the public, a variety of different tax scams continue to rob people of millions of dollars and trick them…
An adoption tax credit is a tax credit offered to adoptive parents to encourage adoption. Section 36C of the United States Internal Revenue code offers a credit for “qualified adoption expenses” paid or incurred by individual taxpayers.…
Do you feel overwhelmed around tax time when trying to select a qualified and suitable tax return preparer? The Internal Revenue Service has published the following Tax Topic…
In our March 2014 newsletter, we provided a discussion entitled “What Are The Chances of Being Audited.” The article focused on the relative possibility of an audit given…
Labor Day signifies the end of summer and comes with a three-day weekend; maybe a trip to the beach, the lake, or the the cabin, and a barbecue.…
Whether you just spent the entire summer paying for child care and are happy to know that you now have a safe place to drop off your children…
Being a sole proprietor has its tax advantages. Find out how you can benefit. A sole proprietor business structure is the most simple type of business one can…
See if your moving expenses qualify for a deduction. If you moved as a result of a job change or to start a new business, your expenses are…
Forgot or put off your tax return? Here’s what you need to know. It’s going to be ok. Or at least if you take care of it now,…
Learn how your personal vacation can be turned into a legal deduction. If you own your own business and decide you want to take a two-week road trip…
Automatic reinvestment is a great strategy but is still subjected to being taxed. Many mutual funds give you the choice of automatically reinvesting dividends and capital gain allocations…
The IRS requires you to meet specific obligations when hiring a new employee. Here’s a list of what you need to know to do Proof of CitizenshipYou need…
Employers are required to give you your W-2 by January 31st. Here’s what to do if you don’t have it. You should follow the four steps below if…
If you’re taking a vacation, you can rent your house out while you’re away. You can make money and have a housesitter all tax free. The IRS allows…
If you have neglected to file past taxes, you’ll be surprised it isn’t as stressful as it you might think. However, the longer you wait to deal with…
You may be eligible for a deduction when making your itemized deductions if you incurred a significant amount of healthcare and dental cost costs last year. If your…
April 15th will be here before you know it. Getting prepared today will set you up for the most peace of mind and give you the best chance…