by | Jun 13, 2016 | Accounting & Bookkeeping, Income Taxes, Personal financial planning, Small Business Owners, Tax Tip of The Week
It seems that many people think that having an accountant is something that is only necessary if you have your own business, a large investment portfolio or if you are one of the very wealthy. In fact, having an accountant that does your taxes on a yearly basis is...
by | Apr 25, 2016 | Accounting & Bookkeeping, Income Taxes, Small Business Owners, Tax Tip of The Week
When tax time rolls around, many tax payers have a difficult time determining if the deductions they think they are entitled to are really business deductions or just hobby expenses. The Internal Revenue Service has a very definitive answer to help determine...
by | Feb 9, 2016 | Books, Income Taxes, Small Business Owners, Tax Tip of The Week
Those who are self-employed are known as Independent Contractors. They may act as a consultant or a virtual staff member for a company or corporation. Meaning they do work on behalf of the company but aren’t considered an “employee” as far as benefits go – this means...
by | Jan 28, 2016 | Accounting & Bookkeeping, Books, Income Taxes, Small Business Owners, Surviving an IRS Audit Series, Tax Tip of The Week
The IRS recently announced the official standard mileage rates for 2016. The mileage rates are: • 54 cents per mile for business use. This is a 3.5 cents per mile decrease from the 2015 business mileage rate. • 19 cents per mile for medical and moving miles driven in...
by | Jan 6, 2016 | Accounting & Bookkeeping, Income Taxes, Personal financial planning, Tax Tip of The Week
It is not just individuals and households that have been feeling the pinch as of late – governments everywhere have too. In their efforts to deal with unprecedented budget deficits, they have recently done everything from closing tax loopholes to encouraging tax...
by | Dec 4, 2015 | Accounting & Bookkeeping, Income Taxes, Personal financial planning, Tax Tip of The Week
Many wage-earning taxpayers with children believe that since they are not in business or don’t own rental properties, their tax-planning opportunities are limited. While they don’t have anywhere near as many options, there are still a number of strategies that...
