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 »
In Part I of this series, we covered some of the important tax breaks that expired at the end of 2013. Now we will look at some of the important additions to the tax code in 2014. Unfortunately, not all of these additions are positive. Individual Health Insurance Mandate The tax law change that impacts
After the Filing Deadline: Important Tax Changes for 2014 (Part II) Read More »
The April 15 filing deadline has come and gone. Hopefully, you were able to optimize your tax savings in 2013 and thus minimize your tax liability. If you are uncertain about your taxes for 2013, it is not too late to revise your return; speak to a tax professional if you think there may be
After the Filing Deadline: Important Tax Changes for 2014 (Part I) Read More »
In Part I, we looked at the scenarios where you would be exempt from filing an income tax return, as well as some common exceptions to the general rule. Now we will look at some reasons why you probably should file an income a tax return, even if you have the legal right not to
Who is Exempt from Filing an Income Tax Return? (Part II) Read More »
In general, most American adults should file income taxes. However, for those that would rather not go to all the “trouble”, there are some circumstances when you may be legally exempt from doing so. We will take a look at which scenarios make you exempt from filing and whether or not this is a good
Who is Exempt from Filing an Income Tax Return? (Part I) Read More »
Tax planning is something you should be doing throughout the year. However, if you have come to the final month of 2013 and find that you may not have done everything possible to organize your taxes and reduce your liability, the time to start is now. True, the holiday season is already very busy but
Why Year End Tax Planning is Important and When to Start Read More »
Do you know how your business entity is structured? If you have an LLC, do you pay taxes as a sole proprietor, an S Corp, or a Partner? I meet business owner all the time who don’t know the difference in an organizational structure and a tax classification. This is crucial because if your business
Choosing an S Corporation versus a C Corporation Read More »
BASC Expertise
3303 E Baseline Rd, Suite 107 Gilbert, AZ 85234
