For most taxpayers, once the April 15 filing deadline has comes and goes, that is the last time they think about taxes until the following January at the earliest. For small businesses, however, taxes are an ongoing concern. Most small businesses are required to pay estimated quarterly taxes, and they are also responsible to pay […]
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Many taxpayers that fall into the lower income brackets are not required to file a return. For the 2014 tax year, a single person under age 65 with an income of $10,150 or less is not required to file, and a married couple (both spouses under 65) filing jointly with an income of $20,300 is
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As Americans, we should all celebrate veterans and take time to say “thanks” to all who bravely serve our country and put their lives on the line to protect our freedoms. It is entirely fitting that we celebrate veterans during the same month as the Thanksgiving holiday, because the brave men and women that have
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Every year, the tax laws change a little, and sometimes a lot. For example, some business write-offs such as accelerated depreciation have largely gone away after 2013. However, there are still a large number of deductions available to entrepreneurs and small businesses. It is important to be aware of them now so you can maximize
Small Business Tax Write-Offs for 2014 Read More »
Continuing from Part I our series on available tax credits and incentives to locate your business in Arizona, here are five additional opportunities for Arizona-based businesses to lower their tax burdens: Computer Data Center Program: The Grand Canyon State wants to encourage computer data center operations to relocate here. Toward this end, the Arizona Commerce
The state of Arizona is strategically located right next door to the world’s 12th largest economy (California). In recent years, Arizona lawmakers have taken a number of steps to attract businesses from the Golden State that are looking for a better place to conduct operations. By 2017, Arizona will have a corporate tax rate of
In navigating the endless maze of rules and regulations known as the Federal Tax Code, it is easy to miss some important ways to lower your tax burden. Tax credits are available for a myriad of activities and lifestyle choices. Because credits provide a dollar-for-dollar reduction in the taxes you owe, taking advantage of those
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In an effort to lower the carbon footprints of homeowners, the federal government is offering tax credits for energy efficient items covering a number of categories. Unlike deductions, these dollar-for-dollar credits can significantly reduce your tax bill if you qualify. If you operate your small business out of your home, this could save you some
Important Energy Tax Credits Read More »
The health insurance marketplace (also known as the exchanges) opened for business on October 1. Although the rollout has not been as smooth as most of us hoped, the technical glitches will eventually be fixed and this will be the only place for many Americans to purchase insurance. Amidst all the confusion surrounding the Affordable
What is the Premium Tax Credit? Read More »
In late June 2013, the U.S. Supreme Court issued a ruling that struck down several parts of the Defense of Marriage Act (signed into law in 1996) and paved the way for same-sex marriage to become the law of the land. To be clear, same-sex marriage is only the law in 12 states and the
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