Do I Need a Separate Business Bank Account? It’s imperative for business owners to have two items and I stress it all the time: A separate business bank account and an accounting/bookkeeping system to organize business finances. This blog will
Tag: income
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
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
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.
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
2018 Taxes Affected by TCJA 2017 Tax Reform
Tax Reform 101 The Tax Cuts and Jobs Act of 2017 officially starts affecting tax returns Jan 1, 2018, so your taxes next January will look a bit (or a lot) different. Let’s walk through some of the most significant
Where’s My Refund – Contacting the IRS about Refunds for Held Up Returns
Where’s My Refund for Held Up Tax Returns “Where’s My Refund?” will be updated on Feb. 18 for the vast majority of early filers who claimed the Earned Income Tax Credit or the Additional Child Tax Credit. Before Feb. 18,
Tax Documents You’ll Need to File Your Tax Return
Tax Documents Due Date By law, employers have until January 31st (or the next business day if it’s a weekend or holiday) to send you their annual tax statements such as W2s, 1099-INT etc. Many taxpayers have opted to receive
Fourth Quarter Estimated Taxes Due Jan 17th
What are Estimated Taxes? Estimated tax is the method used to pay tax on income that is not subject to withholding. This includes income from self-employment, interest, dividends, alimony, rent, gains from the sale of assets, prizes and awards. You also
How to Report Gambling Income and Losses on Your Tax Return
Six Tips on Gambling Income and Losses Whether you roll the dice, play cards or bet on the ponies, all your winnings are taxable. The IRS offers these six tax tips for the casual gambler.