Helpful hints for business owners to lessen the stress of filing taxes.
With the deadline to file taxes fast approaching, we thought it would be a good idea to share some tips Throughout the year, we help our clients navigate tough decisions…
The Home Energy Saving Tax Credit Is Back
On December 20, 2019, President Trump signed into law the Appropriations Act of 2020, which included a number of tax law changes, including retroactively extending certain tax provisions that expired…
Do I Have to File a Tax Return?
This is a question many taxpayers ask during this time of year, and the question is far more complicated than people believe. To fully understand, we need to consider that…
Understanding Your Annual Social Security Letter
If you are receiving Social Security, then you have just recently received your annual letter from the Social Security Administration letting you know that your Social Security benefits for 2020…
Understanding Tax Lingo
When discussing taxes, reading tax related articles or interpreting instructions, one needs to understand the lingo and acronyms used by tax professionals and authors to be able to grasp what…
Tax Changes For 2019
As the end of the year approaches, now is a good time to review the various changes that impact 2019 tax returns. Some of the changes are likely to apply…
Tax Ramifications of Disposing of a Vehicle
Article Highlights: Trading in a Vehicle Selling a Vehicle Gifting a Vehicle Donating a Vehicle to Charity If you are buying a new car, are you wondering what to do…
Is It Time for a Payroll Tax Checkup?
Article Highlights: Tax Reform Underpayment Penalties W-4 Modifications for 2020 Withholding Estimator Penalty Abatement Was your 2018 federal tax refund less than normal, or – worse yet – did you…
Tax Issues That Arise When Converting a Home into a Rental
Article Highlights: Reason for Conversion Basis Depreciation Cash Flow versus Tax Profit or Loss Passive Losses Home Gain Exclusion There are many reasons to convert a home into a rental,…
Child Daycare and Taxes
Article Highlights: Daycare Providers Simplified Food Deduction Special Rules for Business Use of the Provider’s Home Home Sale Consequences Other Expenses Other Daycare Provider Issues Daycare User Credit Employer Dependent…