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IRS audits are on the rise! It is vital that you "Play Defense" by having proper backup. Check out the TalkAccounting card as a way to easily track your expenses and simplify your accounting. Go to talkaccounting.com and watch the video for more information....

For tax years beginning after 2017, business taxpayers (other than C-Corporations) may be able to take the new Section 199A 20% deduction of their qualified business income. This means that you will only pay tax on 80% of your business income. For service businesses,...

Real estate has long been a popular investment. Rental properties, in particular, can be a source of income with many income tax benefits. In particular, real estate can provide a tax-deferred income stream due to the deduction of a non-cash expense called...

I have yet to meet a business owner who doesn’t think they are paying more taxes than they should.  But few of them have a plan to reduce their taxes! Well, it’s the end of the year, and that means this is prime season for cutting your tax bill! In fact, clients...

Many wage-earning taxpayers with children believe that their tax-planning opportunities are limited because they are not in business or don’t own rental properties. While they don’t have anywhere near as many options, there are still a number of strategies they can...

Do you have a plan for dealing with all the new taxes affecting business owners in 2018? Failing to meet with your tax advisor can result in you paying much more in taxes than legally required. I had a client who set up a business using the wrong business entity. This...