Throughout the year life happens and things go unchecked all the time. Especially when it comes to updating your employer about your filing status for taxes when a life event happens. However, understanding what filing status you should be claiming is where you should first start. There are hundreds of questions when it comes […]
Knowing Your Filing Status Going Into 2020 Read More »
Once again, tax planning for the year ahead presents a number of challenges, first and foremost being what tax reform measures (if any) will actually become legislation–and when they take effect (e.g. retroactive to January 1, 2017, or a future date). Furthermore, a number of tax extenders expired at the end of 2016, which may
Year-End Tax Planning Strategies for Individuals Part 1 Read More »
There are a number of end of year tax planning strategies that businesses can use to reduce their tax burden for 2016. Here are a few of them: Deferring Income Businesses using the cash method of accounting can defer income into 2017 by delaying end-of-year invoices so payment is not received until 2017. Businesses using
Year End Planning for BUSINESS Tip #1 Read More »
The end of 2015 brought several gifts from Congress and the President to businesses of all sizes. The 2000 plus page bipartisan budget agreement is full of tax breaks to help businesses in the coming years. Many of these provisions were already on the books, but were about to expire at the end of this
Businesses Receive Numerous Tax Breaks in 2015 Budget Deal Read More »
Congress and the President recently agreed on a budget bill that keeps the government operating through the end of September 2016. The $1.1 trillion spending package is over 2000 pages long and includes a number of provisions that were priorities for both sides. Along with increases in domestic and defense spending and eliminating a four
Tax Changes in December 2015 Budget Deal Read More »
Although we are in the middle of the 2014 tax filing season, it is never too early for businesses to plan their tax strategies for the coming year. Overall, most of the same business tax deductions will still be available; including home office (if you qualify), advertising and promotion, auto expenses, travel, equipment and many
Important Small Business Tax Changes Read More »
As 2015 begins, the economy appears to be looking better across most industries. However, to ensure success in the New Year, it is important to make sure you have your finances and tax situation organized. Here is a quick checklist to help you start 2015 on the right foot. Assess your Goals: Before making any
New Year Tax Preparation To Do List for Businesses Read More »
The holiday season is here, and time is running out on 2013. However, just because there are only a couple weeks left in the year does not mean there are no more opportunities to save on your taxes. In fact, there are several year-end ways to lower your taxable income. Here are some of the
Year End Ways to Save on Taxes Read More »
Congress has finally passed legislation averting the so-called “fiscal cliff.” While few of us who watched the process would consider it Washington’s finest hour, we now have answers to the questions that have made proactive planning so difficult. Here are the highlights: • The Bush tax cuts have been permanently extended for income up to
2013 Tax Outlook: Avoiding the “Fiscal Cliff” Read More »
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