1. New Tax Law Potential Changes

    Leaders in Congress and President Trump recently released a “framework” of the tax law changes that they would like to see happen.  As of right now, there are not a lot of specifics and a lot will change as the specifics are negotiated. Here is a list of the proposed changes that will have the most effect on taxpayers and small to medium-sized business owners. Individual tax rates compress to…Read More

  2. Preventing an IRS Audit

    On the bright side of tax season, there’s a potential for receiving a refund. The downside of tax season is that there is also a potential for being audited by the IRS. It’s every taxpayer's worry that they will have to go through the time-consuming process of being audited. If you are contacted by the IRS for an audit, they need additional information to determine if your taxes were filed cor…Read More

  3. Tips for Filing Small Business Taxes

    Tax season is in full swing and citizens everywhere are frantically trying to find old receipts and business owners are especially feeling the pressure of filing taxes correctly in order to receive the biggest refund. Small business owners are already strapped for cash so filing taxes and a possible hefty refund are reasons for taking the time to do it correctly and accurately. If you’re struggl…Read More

  4. Hire a CPA for These Situations

    It still seems like we have more than enough time to prepare for taxes, however, tax season is coming up quickly. There are many of us who balk at the thought of hiring an accounting firm or a CPA for tax preparation. But when you or your business are getting ready to file taxes, there are times when it is more than necessary to hire a professional. Even when it appears that you will have an easy …Read More

  5. tax preparation

    What to Know About Federal Income Taxes

    In the beginning of small business ownership, the devil is in the details. In this case, the details is in federal income taxes. Filing taxes on time and correctly will ensure that your company is reaching all of their potential when it comes to getting the most out of your deductions and reducing the chance of an IRS audit in the future. There’s no way to avoid paying federal taxes, so contact …Read More

  6. Legal Entities for Small Business

    Starting a small business is scary and overwhelming and there are many aspects of owning a business. One thing that is doubly overwhelming is taxes. Starting with a limited budget as a small business owner is standard, so knowing as much as you can about paying taxes and tax deductions is just as important, if not more so. The first thing to understand is that there are different types of business…Read More

  7. Donating Appreciated Stock & Is the Sales Tax Deduction Right for You?

    Donating Appreciated Stock Offers Tax Advantages When many people think about charitable giving, they picture writing a check or dropping off a cardboard box of nonperishable food items at a designated location. But giving to charity can take many different forms. One that you may not be aware of is a gift of appreciated stock. Yes, donating part of your portfolio is not only possible, but it also…Read More

  8. Is The Sales Tax Deduction Right For You?

    As the year winds down, many people begin to wonder whether they should put off until next year purchases they were considering for this year. One interesting wrinkle to consider from a tax perspective is the sales tax deduction. Making the choice This tax break allows taxpayers to take an itemized deduction for state and local sales taxes in lieu of state and local income taxes. It was permanentl…Read More

  9. Take The Worry Out Of Business Valuations

    Appraisals can inspire anxiety for many business owners. And it’s understandable why. You’re obviously not short on things to do, and valuations cost time and money. Nonetheless, there are some legitimate reasons to obtain an appraisal regularly or, at the very least, to familiarize yourself with the process so you’re ready when the time comes. Strategic perspectives Perhaps the most common …Read More

  10. AMT Awareness: Be Ready For Anything

    When it comes to tax planning, you’ve got to be ready for anything. For example, do you know whether you’re likely to be subject to the alternative minimum tax (AMT) when you file your 2016 return? If not, you need to find out now so that you can consider taking steps before year end to minimize potential liability. Bigger bite The AMT was established to ensure that high-income individuals pay…Read More