by | Jul 10, 2017 | Accounting & Bookkeeping, Books, Income Taxes, QuickBooks, Small Business Owners, Tax Tip of The Week
As a small business owner or an entrepreneur you should be talking to your accountant at least once or twice a year, and ideally more often, to make sure that you are taking full advantage of any tax deductions or opportunities that you may have. The Small Business...
by | Apr 13, 2017 | Accounting & Bookkeeping, Books, Current Affairs, Income Taxes, Tax Tip of The Week
As the tax deadline nears…our final set of reminders for your 2016 return. Returns are due by Tuesday, April 18 this year. Even though Because April 15 falls on a Saturday, on Easter weekend, Washington, D.C. will observe its Emancipation Day...
by | Nov 10, 2016 | Current Affairs, Tax Tip of The Week
I hear this very often from business owners, particularly from those business owners that owe more in taxes this year than they expected. What they fail to understand is that there are substantially fewer things we can recommend that they do to cut taxes once...
by | Aug 31, 2016 | Accounting & Bookkeeping, Cash Flow, Current Affairs, Income Taxes, Tax Tip of The Week
Tax deductions reduce your taxable income and cut your taxes by the amount of your top tax bracket. For example: If you make a $100 tax-deductible contribution to the Red Cross for the Oklahoma tornado relief effort(and I hope you did) and you are in the...
by | Jul 12, 2016 | Accounting & Bookkeeping, Income Taxes, Personal financial planning, Tax Tip of The Week
It is never too early to start organizing for tax time. If you have a desk, box or simply a folder full of receipts and tax forms, you can develop easy organizational practices or habits to make your life easier and to help your accountant when you actually go to...
by | Jul 11, 2016 | Accounting & Bookkeeping, Income Taxes, Tax Tip of The Week
If you have any expenses for businesses not covered by your employer, you may be able to file the IRS Form 2106 that allows you to make these deductions on your taxes. It is important to remember that this form is only used if you are an employee, not if you are a...
