Charitable Donation Options After Tax Reform
Francis Bacon once said, “With charity there is no excess” – a powerful statement that the IRS would amend to add, “but with limitations.” When it comes to charitable donations, you are […]
What You Need to Know Regarding Marijuana Industry Accounting
Marijuana’s popularity is flourishing. There’s no doubt about it. As more states legalize its medicinal or recreational use, more and more cannabis-related businesses are sprouting up. Consumers are spending more every year. […]
QBI Deduction Plus High Income Equals No Problem! (Part 2 of 2)
In Part One of our article series we discussed what the QBI deduction is, which business entities it applies to, and how it is calculated. If you need a quick refresher of […]
New 20% Deduction for Business Owners! Do You Qualify? (Part 1 of 2)
With the recent implementation of the new tax reform, the Tax Cuts and Jobs Act has left many taxpayers in the dark concerning many new major tax provisions. One of these provisions […]
Qualified tuition programs
It’s extremely worrisome to think about how Americans owe approximately $1.5 trillion in student loan debt and how that number isn’t going to stop climbing anytime soon. How can we expect our […]
The Three Biggest Tax Reform Myths
While folklore and fairy tales are a rich part of human culture, myths have no place in a tax system. Since President Donald Trump’s new tax reform bill was signed into law […]
Start Preparing For Next Year’s Tax Season
So, tax season is over and you’re feeling relieved. (We were swamped, so we are too!) But this doesn’t give you a free pass to forget about taxes until next year. Now […]
Tips for Business Owners
Being a small business owner takes a lot of energy, passion, perseverance, and thick skin. It’s not a job for the weak of heart. But as a business owner, you also need […]
So Your Dependents Have Income… What Do You Do?
An important part of filing taxes is claiming dependents. Most dependents are younger children, but what about older dependents who may be in college and/or have a job? What dependent deductions can […]
Simple Strategies to Avoid Tax Penalties
Tax penalties: You may be oblivious to some of them, but the IRS will penalize you either way. Being educated about penalties is one’s best defense against them. In this post, we […]
Avoid Unnecessary Business Fees!
Businesses have an earlier due date compared to individuals, so make sure you get those business returns filed right away! Deadlines Business tax returns are due March 15th, 2018, for both the […]
Individual Tax Penalties And What You Can Do About Them
Tax season is finally here! Obviously, the goal is to avoid any and all tax penalties. But if you find yourself in a position where you can’t pay the entire amount you […]