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
Category: Tax Tips
7 Ways to Prevent Elder Tax and Financial Abuse
Tax season is right around the corner and as it ramps up, so do the efforts of scam artists looking to steal people’s financial data and money. These scam artists often target older adults. Whether you’re in this age bracket
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:
Is Your Business Profitable? Accounting 101
For most small businesses, your accounting needs are relatively simple. However, for most business owners accounting often is the least favorite part of a business. So, we are going to break down accounting to the bare essentials, so you can
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).
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
2018 Year-End Tax Tips
Everyone wants to save money on their taxes, right? Well you’re not going to be able to do this unless you plan accordingly. To make the most of some tax deductions, you have to act before the year is over.
October 2018 Tax Newsletter
Disaster Relief Several recent laws affect disaster relief for taxpayers. What does that mean for you? The Tax Cuts and Jobs Act (TCJA) removes the deductions for casualty and thefts, except for losses from disasters covered by specific federal disaster declarations. On the other
September 2018 Tax Newsletter
Tax Notes If you own a pass-through entity such as a partnership, S corporation, LLC or sole proprietorship, look for information soon about the Qualified Business Income Deduction. Proposed regulations were released on August 8. Below is some info.
August 2018 Tax Newsletter
Tax Notes The Tax Cuts and Jobs Act raised the Child Tax Credit from $1,000 to $2,000. Of this, up to $1,400 can be a refundable credit. The Internal Revenue Service has not fully explained how this will work, but I’ll