Selling Your Business: Know the tax consequences beforehand
Selling Your Business Know the tax consequences beforehand The tax consequences of selling a business depend on whether you operate as a sole proprietor or a corporation. As a sole proprietor, selling your business means you are ...
Automobile Expenses: Which is better, deducting the standard mileage rate or claiming actual expenses?
Automobile Expenses Which is better, deducting the standard mileage rate or claiming actual expenses? With the standard mileage at 53.5 cents per mile for 2017, it might be time to revisit what yields the more substantial deduction—the ...
Business Owners Beware: Scammers are after your data
Business Owners Beware Scammers are after your data For years, we have heard stories about how identity thieves hack into computers and steal personal information. We have been assaulted with phishing scams where thieves impersonate IRS employees ...
Leasing Assets to Your Corporation: A simple strategy may save you money on taxes
Leasing Assets to Your Corporation A simple strategy may save you money on taxes A business doesn’t have to own all its operating assets. Leasing your personally owned property, such as a building, vehicle, or equipment, to ...
Maximizing Your Deductions: Year-end strategies to save you money
Maximizing Your Deductions Year-end strategies to save you money As the tax year draws to a close, many of you are thinking of ways to reduce your taxable income. Generally, this is accomplished by increasing your expenses ...
Preparing for Your Tax Appointment: Getting organized saves valuable time
Preparing for Your Tax Appointment Getting organized saves valuable time Tax time always seems to come around sooner each year, and if you’re like most people, you make a vow to be better prepared for next year. ...
Medical Expenses: Odd things you might not consider
Medical Expenses Odd things you might not consider Have you heard of a fidget spinner? Essentially, it’s a triangle-shaped toy that’s designed to spin with little effort. Fidget spinners have been around for a long time, but ...
House and Senate Tax Bill Comparison
Congress is currently debating the largest tax bill in the last 30 years. Both the House and Senate have passed their own versions of the bill. Differences must now be reconciled, with the final piece ...
2018 Filing Season Start Date Not Yet Announced & Refund Timing
The IRS has not yet announced a date that it will begin accepting individual tax returns for the 2018 tax filing season. The IRS anticipates it will not be at a point to announce a filing ...
Year-End Charity Donations May Cut Tax Bills
Those looking to maximize their tax savings before the end of the year may wish to consider charitable giving. Giving money or goods to a tax-exempt charity before Dec. 31 can usually be deducted on ...