Too often during the course of an audit, the auditor throws out valid deductions. Not because they did not occur, but solely because you did not provide adequate documentation. When it comes to taking qualified deductions on your tax return,
Category: Tax Deductions
Homeowner Alert! Review Your Tax Forms
Because of new laws many home related tax rules have changed and now require you to prove how funds are used to qualify for a deduction. This is catching many taxpayers by surprise. So when your mortgage company reports tax-related
Caution! Watch For Incoming Tax Forms- Tax forms are arriving. Time to be prepared!
Tax forms come in more varieties than flavors of ice cream. Nearly any time something of value changes hands, there’s a specific tax form available to capture it for posterity. Check out the list below to familiarize yourself with some
Reminder: 2018 Tax Changes for Individuals
The Tax Cuts and Jobs Act of 2017 (TCJA) eliminated or modified numerous tax provisions starting in 2018. Here’s what individuals and families need to know as they get ready for tax season.
Small Business Owners’ Tax Checklist
Keeping your tax documents organized is a challenge, but it can not only make the tax filing season go smoothly, it can also reduce your company’s tax liability. Here are some tips to keep your business on track:
Save Money by Hiring Your Child as an Employee of Your Business
If you own a business, consider hiring your child (or grandchild) as a legitimate employee. It can be a smart tax-saving strategy for employee and employer alike, especially under the Tax Cuts and Jobs Act (TCJA).
2018 Tax Highlights Video
Video includes key information about the TCJA tax reform changes that will affect you in the upcoming tax season. The highlights consist mostly of the individual tax changes. Start collecting your documents now, so you’re ready to file taxes and
December 2018 Tax Newsletter
Charitable Giving Planning In 2017, Americans donated over $410 billion to charity. As 2018 closes, you may be considering your charitable giving. You can deduct charitable gifts of cash and property, plus deduct your charitable mileage (14¢ per mile). To
November 2018 Tax Newsletter
The New (and improved?) Form 1040 The new Form 1040 has been touted as a simple way for most people to file their income taxes on a page the size of a postcard. Is that really the case? Depending on
Meals and Entertainment Expenses per TCJA Tax Reform
The IRS has issued Notice 2018-76, that provides guidance on the business expense deduction for meals and entertainment. This is in light of the Tax Cuts and Jobs Act (TCJA), which was supposed to eliminate deductions for expenses pertaining to