Below you'll find a list of all posts that have been categorized as “TAX TIPS”
Can you believe we only have a little over 6 weeks left in 2018? Time flies when you are having fun and working hard, right? Speaking of working hard, have you made more money than you were expecting and now need more write-offs to offset it? Even if you made …
Are you a small business owner? When you started your business, did you set it up as an LLC? Did you just get hit with a huge tax bill? It may be time to consider filing for an S Corporation. An S corp is not a business structure, but an …
Over the last week, the IRS has been putting out several news releases encouraging tax payers to check their withholding soon. We agree; it is a very good idea for all tax payers to do do a review of their withholding. So much has changed over the last year with …
As tax professionals, we often get asked about tax credits and tax deductions. Some people assume they are the same thing, but they are not. A tax deduction reduces your taxable income while tax credits provide a dollar-for-dollar reduction to your income tax liability. Which means tax credits are worth …
Did you owe taxes or get money back this year? It will probably be different next year, because of the recent changes to the tax law. So, it would be a good idea to do a “paycheck checkup” as soon as you can. The IRS suggests this, so you don’t …
Tax scams happen year-round, but they seem to be more common during tax season and in the summer. The IRS website is a great resource for scams that are happening to tax payers all around the country. Here are a few of the latest scams we thought were important for our …
Can you imagine if you had a flood, fire, or natural disaster destroy your business and everything in it? No, we don’t want to imagine it either. But, it is important to prepare yourself and your business in case of a disaster. Come up with an emergency plan and update it …
With the year almost half way over, it is a good idea to look at your business from an accounting perspective now. With the new tax bill that got passed at the end of last year, there will be some changes to watch out for. We have come up with …
Aren’t you so glad tax-return season is OVER?! We know we are. Now that it is behind us, it is a good idea to start planning for the rest of 2018. We have come up with a few tips to help you get prepared… Review your tax-return that was just …
If you have not filed your taxes yet, it would be a good idea to file for an extension now. Filing an extension is easy and worthwhile if you have not done your taxes yet. You don’t even need a reason why you are filing an extension if you follow …
