Tax Central

5 Tax-Saving Strategies Every Business Owner Should Know

As a business owner, you’ve poured countless hours into building your company. You’ve successfully navigated…

What We Learned From January Planning Conversations

January is always a whirlwind. It is the month of fresh starts, ambitious spreadsheets, and…

Navigating Business Interest Expense Deductions

As a business owner, you’re constantly looking for ways to grow your company while managing…

Is Your Business Ready for the 2026 Tax Landscape?

The only certainties in life are death and taxes, as Ben Franklin famously said. But…

5 Key Tax Breaks for Your Business in 2025

As a business owner, you know that every dollar counts. You’ve worked tirelessly to build…

The Shift: Why C Corporations Are Gaining Favor

The One Big Beautiful Bill Act made several key tax provisions permanent, providing the stability…

Reconciling Your Books: What to Do Before Dec 31

As a business owner, you know the end of the year brings a unique blend…

Top 6 Tax Tips for 2026

Tax season can feel like a complex puzzle, but with the right strategy, you can…

Last-Minute Tax Moves to Consider Before Year End

As the year draws to a close, your focus might be on holiday preparations and…

Maximizing Deductions: What Purchases Still Qualify for 2025?

As a business owner, you’ve dedicated countless hours to building your enterprise. But are you…

Year-End Tax Checklist: What to Ask Your CPA Before Dec 31st

The final quarter of the year is a critical time for business owners. While you’re…

Unpacking the New QSBS Tax Break

Recent legislative changes have delivered a major win for founders, investors, and early employees of…

5 Tax Deductions Your Small Business Might Miss

As a small business owner, you’re always looking for smart ways to manage your finances….

The One, Big, Beautiful Bill: What ‘No Tax on Tips & Overtime’ Means for Your Business

A significant piece of legislation, the One, Big, Beautiful Bill Act, introduces new tax deductions…

Stop Playing Tax Roulette: Why Small Businesses Need Year-Round Planning

Many small business owners wait until tax season to think about their tax strategy, leading…

U.S. Treasury is Ending Paper Checks: What You Need to Know

U.S. Treasury is Ending Paper Checks: What You Need to Know The way Americans interact…

Unlocking Tax Credits and Deductions Under the Big Beautiful Tax Bill

The Big Beautiful Tax Bill (BBTB) has introduced new opportunities for S Corporations to reduce…

The Critical Role of Basis Tracking in Year-End Tax Planning

When it comes to year-end tax planning, accurate basis tracking often takes a backseat to…

Fringe Benefits Compliance: What Shareholder-Employees Need to Know

Fringe benefits are an integral part of compensation packages, and for S Corporations, properly managing…

Expense Allocation Made Easy: Avoiding Tax Filing Pitfalls

Accurately allocating expenses is one of the most critical aspects of tax planning for S…

The Importance of Loan Documentation Between S Corporations and Shareholders

For S Corporations, managing finances efficiently is essential, particularly under evolving tax laws like the…

Mastering Shareholder Salaries and Distributions for Tax Compliance

For S Corporations navigating the One Big Beautiful Bill Act (OBBBA)), understanding the intricacies of…

Navigating the One Big Beautiful Bill Act (OBBBA): A 6-Part Guide to Year-End Tax Planning for S Corporations

The One Big Beautiful Bill Act (OBBBA) has brought significant changes that small business owners—particularly…

How IRS Workforce Cuts Will Impact Small to Medium-Sized Businesses

The IRS has announced a drastic 25% reduction in its workforce, slashing the number of…

How the IRS Refinements to the Pre-Filing Agreement Program Could Benefit Both Large and Small Businesses

The Internal Revenue Service (IRS) recently announced refinements to its Pre-Filing Agreement (PFA) program, a…

H.R. 703 and the 199A Deduction: A Game-Changer for Small Businesses?

Running a business is no small feat, especially for those generating between $1 million and…

Why Understanding Your State’s Corporate Tax Rate Matters for Your Business

When running a small business, profitability and financial strategy go hand-in-hand. While many business owners…

Avoid Penalties—File Form 720 by July 31!

If you’re a small business owner or someone juggling multiple financial responsibilities, the last thing…

Can You Deduct a Scam Loss? The IRS Offers Small Business Owners Relief

For small business owners, nearly every dollar counts. Falling victim to a scam can feel…

Understanding the Tax Implications of Changing Ownership Percentages for Shareholders

For business owners, making changes to ownership percentages among shareholders is a significant decision. It…

The Tax Implications of Hiring an Out-of-State Employee

Hiring employees from other states can be a strategic move, allowing your business to tap…

Tax Benefits of Modular Building for Small Businesses

As a small business owner, you’re always looking for ways to grow your operations while…

Understanding Section 1202 QSBS for Your Small Business

You may have heard the term “Section 1202 QSBS” tossed around in conversations about taxes…

Why Extending the Tax Cuts and Jobs Act Matters for Small Business Owners

When it comes to running a small business, every dollar counts. From managing payroll to…

7 Reasons Small Business Owners Should Think Twice Before Electing S Corp Status for Their LLC

Starting and running a small business involves making decisions that can have long-term implications. Among…

Understanding Influencer Marketing and Its Tax Requirement

Are you an influencer or content creator navigating the evolving world of social media marketing?…

5 Business Tax Credits Your Family-Owned Small Business Should Know About

Running a family-owned small business is no small feat. From managing day-to-day operations to planning…

The Right Way to Ask Your Corporation for Travel Reimbursements

If you’re a small business owner operating as a C or S Corporation, understanding how…

Get Your Partner-Paid Expenses Right

If you’re a small business owner, a partner in a partnership, or a member of…

Don’t Lose Those Tax Deductions – Start Smart, Save Big

Don’t Lose Those Tax Deductions Starting a new business is thrilling, but navigating the tax…

Understanding Personal vs. Business Expenses for Small Business Owners

Managing finances is a critical part of running a small business. Whether you’re just starting…

Is Your S Corporation Year-End Tax Prep on Track? Frequently Missed Items to Watch Out For

For small business owners operating as an S Corporation, the end of the fiscal year…

Important BOI Reporting Updates for Small Business Owners – February 20, 2025

Attention small business owners and entrepreneurs: Recent developments surrounding Beneficial Ownership Information (BOI) reporting may…

Navigating Sales Tax and Income Tax Reporting Across State Lines

As a business owner, your responsibilities are constantly evolving—especially when it comes to tax compliance….

What Smart Business Owners Review About Taxes Before Q1 Ends

The first quarter of the year often starts with a burst of energy, fresh goals,…

The Most Common Tax Mistakes We See at the Start of the Year

Tax season often brings a sense of stress and confusion for many people. While it’s…

Tax Planning vs. Tax Filing: Why January Matters More Than April

Many business owners breathe a sigh of relief once their taxes are filed in April,…

BOI FinCEN Filing Update – Simplified for You  

Attention small business owners and entrepreneurs! Navigating the complexities of BOI FinCEN filing can be…

2024 Last Minute Year-End Retirement Deductions

The clock continues to tick! Your retirement is one year closer. You have time before…

2024 Year-End Prep: Essential Tools and Updates in QuickBooks Online

As 2024 winds down, tax professionals are gearing up to prepare and reconcile client accounts…

The Corporate Transparency Act: Why You Need to File Your BOI

Understanding the Corporate Transparency Act (CTA) is VERY important for small business owners, compliance officers,…

2024 Last-Minute Year End Business Income Tax Deductions

The purpose of this article is to get the IRS to owe you money. Of…

How to Prepare for Your Year-End Financial Review: A Guide for Small Businesses

As the year draws to a close, it’s time to take stock of your business’s…

Unlocking Success With Strategic Tax Planning for Small Business Owners

Tax season can often feel like a daunting period for small business owners. The complexities…

QBI Deduction: Maximize It Before It’s Gone

The Tax Cuts and Jobs Act (TCJA) made the qualified business income (QBI) deduction one…

The Department of Labor Makes It Harder to Hire Independent Contractors

Does your business classify workers as independent contractors instead of employees? You should know that…

Side Fund Increases Benefits When Cutting Social Security Taxes

Last month, we wrote about saving money on your Social Security taxes. You may have…

Surprising Tax Impact of Converting Your Traditional IRA to a Roth IRA

Taxpayers are limited in the annual amount they can contribute to a Roth IRA. The…

Convert from C to S corp: Save Thousands and Avoid BIG Tax Problem

You can save BIG by understanding how to avoid the evil built-in gains tax that…

Seizing the Silver Tsunami: What Millennials & Gen Z Should Know About Acquiring Boomer-Owned Business

As the Baby Boomer generation enters retirement, a wave of small businesses will be transitioning…

Essential Tax and Financial Planning Strategies for Seniors Approaching Retirement

As Boomers and Gen Xers approach retirement, effective financial planning becomes crucial to ensure a…

Understanding the Types of IRS Audits: Why Professional Help is Crucial

Dealing with the IRS can be a daunting experience, especially when you receive an audit…

Top 5 Accounting Mistakes Small Business Owners Make and How to Avoid Them

Proper accounting is the backbone of any successful small business. It ensures that your financial…

Not sure which entity is best for your business? Use this chart!

Are you a business owner or entrepreneur trying to decide which entity structure is the…

Don’t Miss Out! Here’s Why You Should Consider Mid-Year Tax Planning

Running a small business comes with its fair share of challenges, and tax planning often…

Free Up Time to Enjoy Summer with QuickBooks Online’s Recurring Transactions Feature

Summer is the perfect time to relax and enjoy the warm weather, but accounting tasks…

How an Accounting Pro Can Help You Create and Stick to a Budget

Maintaining a clear and effective budget is one of the most important parts of running…

Let’s Get Started Early! Tax Planning Season 2024

As the saying goes, “failing to plan is planning to fail.” Business owners who get…

How Health Savings Accounts Can Supercharge Your Tax Savings 

Today, we will dive into the major tax benefits of a Health Savings Account, who…

Top Reasons Taxpayers End Up in Court and How to Avoid Them

Tax law is as complex as it is daunting. Each year, countless taxpayers find themselves…

Payroll Management: A Complete Guide for Small Businesses

Payroll taxes can be a significant headache for many small and medium-sized business owners. Without…

The 2023 Individual Tax Extension Guide for Small Business Owners and Self-Employed Individuals

Tax season can often bring a sense of dread, especially if you’re running a small…

The IRS Is Tackling Tax Evasion With AI

As the current tax season continues, the Internal Revenue Service (IRS) has ushered in a…

Freshen Your Finances: QuickBooks Spring Cleaning Tips for 2024

As the season changes and springtime approaches, it’s not just your home that could use…

Secure Your Golden Years With Backdoor Roth IRAs

When it comes to securing your financial future, retirement planning is a top-of-mind concern for…

Improper ERC Claim? Pay Back 80% and Keep the Rest

First question: Is your employee retention credit (ERC) claim improper? Are you sure? If you’re…

Common IRS Audit Triggers for Small Businesses: How to Avoid Them

As a small business owner, the word ‘audit’ can be a source of anxiety. However,…

New Employee vs Independent Contractor Rule Effective March 11

The U.S. Department of Labor (DOL) announced on Jan. 9, 2024, the issuance of its final…

Pending 2024 Tax Legislation: A Comprehensive Guide for Small Business Owners and Taxpayers

Tax Relief for American Families and Workers Act of 2024 Economic policy can fascinate or…

Qualified Small Business Stock: Do You Qualify for Its Taxable Gain Exclusion?

IRC Sec 1202, Qualified Small Business Stock (QSBS) gain exclusion, provides a significant tax planning…

Saver’s Credit Can Help You Save For Retirement

Article Highlights Benefits Eligible Taxpayers Rules for Students, Dependents of Others and Individuals Under the…

Navigating the Tax Implications of Remote Work: A Comprehensive Guide

In the wake of the pandemic, remote work has become the new norm for many…

Using a Ghost Preparer? Who You Going to Call When The IRS Knocks?

As people begin to have their 2023 tax returns prepared, this is a reminder to…

The 8 Common Tax and Accounting Mistakes

Successfully steering a small business involves managing its financial intricacies. Amid the responsibilities, tax and…

QuickBooks Tips For a Fresh Start In 2024

As the bustle of December fades, January is a transitional month for many small business…

The Curious Case of the Hole-in-One: Tax Ramifications and Legal Wranglings Unfold

In a tale that could rival even the most gripping golf tournament dramas, a recent…

The Future of U.S. Tax Policy: Key Issues For 2024 Presidential Candidates

The early Presidential debates for the 2024 election cycle have begun, and one topic that’s…

Simplify Your Business With Recurring Transactions In QuickBooks Online

QuickBooks Online offers a world-class set of bookkeeping and accounting features designed to simplify financial…

How Does Education Impact Your Taxes?

The kids are back in school! Things like student loans, scholarships, and fellowship grants can…

Sold Taylor Swift or Beyonce Tickets? Why You Need to Pay Attention to the IRS

As a small business owner, it’s important to stay on top of all tax requirements….

The Hidden Costs of Sloppy Bookkeeping

The Hidden Costs of Sloppy Bookkeeping A recent Stanford study reviewed the aftermath of the…

Navigating the Challenge: How Rising Interest Rates Impact Start-up Fundraising

In the dynamic world of start-ups, securing funding is the lifeblood of growth and innovation….

The IRS Stops Processing Covid Employment Tax Credit: What You Need to Know

The Covid-19 pandemic has turned the world upside down. Lockdowns, travel restrictions, and mandatory work-from-home…

Financial Aspects of Elder Care Planning

When we’re young and vibrant, we think that we’ll never grow old. We enjoy each…

The Inflation Reduction Act Could Double Small Business R&D Tax Credits

Article Highlights: • Inflation Reduction Act • Research Credit Payroll Tax Option • Research Credit…

Business v. Hobby – How to Tell the Difference for Tax Purposes

I think we can all agree that Scarlett Johansson and Tom Hiddleston act for a…

Tax Implications of Student Loan Forgiveness

Article Highlights: • Background • Court Battle • Forgiveness Under Income-Driven Repayment (IDR) Plans •…

Did You Get a Letter from the IRS? Don’t Panic.

Article Highlights: • IRS Notices • CP Series Notice • Automated Notices • Frequent Errors…

Can a Self-Employed Taxpayer Mix Business and Pleasure During Foreign Travel and Still Get a Tax Deduction?

Can a Self-Employed Taxpayer Mix Business and Pleasure During Foreign Travel and Still Get a…

Planning for Your Retirement – New Wrinkles from the SECURE 2.0 Act

Article Highlights: • SECURE 2.0 Act • Catch-up Contributions • Incentives to Contribute to a…

August Tax Due Dates

August 2023 Individual Due Dates August 10 – Report Tips to Employer If you are…

Plan Ahead To Leave a Lasting Legacy

In the unfortunate event that you should pass away without an estate plan (or at…

Tax Planning to Help New Franchisees

Franchise investment can be a wonderful opportunity, but it also involves a completely unfamiliar set…

Employee Stock Options Can be Taxing

Article Highlights: Employee Stock Options Stock Option Terminology Incentive Stock Options Non-qualified Stock Options Tax…

Retirement Tips for Business Owners: Ensure a Secure Future

As a business owner, unlocking personal financial success comes with new challenges and responsibilities. One…

Are You Cheating Yourself by Using IRS Mileage Rates?

Let’s start with an example. Say that in 2022 you bought a $50,000 SUV that…

Do you owe self-employment tax on Airbnb rental income?

That’s a good question. In Chief Counsel Advice (CCA) 202151005, the IRS opined on this…

Crowdfunding: Is It Taxable?

Crowdfunding is a national and international phenomenon. Over $17 billion is raised yearly in North…

Roundup of Individual Tax Changes For 2023

Article Highlights: Required Minimum Distributions (RMD) Excess Accumulation Penalty Military Spouse Retirement Plan Participation Clean…

What is the Work Opportunity Tax Credit, and Who Qualifies For It?

At its most straightforward, the Work Opportunity Tax Credit is available at the federal level…

Don’t Get Hit with IRS Underpayment Penalties

Article Highlights: Pay-as-You-Earn System Withholding and Payment Forms IRS On-line Withholding Estimator Situations Triggering Underpayments…

R&D Tax Credit Misconceptions and Guidelines

As a business owner, you understand how important it is to stay informed and up-to-date…

Maximize the Home Energy Improvement Credit

Article Highlights: Credit History Credit Percentage and Annual Credit Limit Per Item Credit Limit Home…

How the Electric Vehicle Tax Credit May Benefit Your Bottom-line

As the technology of electric vehicles continues to evolve, so do governmental regulations. Recently, the…

Holding Real Property in a Corporation: How can you avoid double taxation?

Owning real estate in a corporation is an important decision and one that must be…

The Implications of the R&D Tax Policy Changes on Manufacturers Everywhere

If you’ve been keeping up with the news, you’re no doubt aware of a recent…

Wow! You Can Get a Tax Credit For Buying a Used Electric Vehicle

Article Highlights: Income Limit Credit Amount Previously Owned Clean Vehicle Qualified Sale Qualified Buyer Dealer…

Did you miss out on ERTC funds?

Lately, we’ve been hearing from our clients that they are concerned they may be missing…

Wonder What a Tax Deduction Is Worth?

Article Highlights: Non-business deductions Tax bracket Above-the-line deductions Itemized deductions Business deductions Tax credits Individuals…

Arizona Pass Through Entity Level Tax (PTE)

Since the Tax Cuts and Jobs Act in 2017, the states have been trying to…

Consequences of Filing Married Filing Separate

Article Highlights  Reasons to File Separate Filing Threshold Community Property State Income Joint & Several…

February 2023 Individual Due Dates

  February 10 – Report Tips to Employer If you are an employee who works…

Looking Ahead to 2023 Taxes

Article Highlights:   Solar Credit Home Backup Electric Storage Battery Credit Home Energy Improvement Credit…

Common Family Tax Mistakes

Article Highlights • Family Member Transactions • Renting to a Relative • Below-Market Loans •…

January 2023 Individual Due Dates

January 3 – Time to Call For Your Tax Appointment – January is the beginning…

The Tax Consequences of Gig Work

Over the last decade, in particular, the definition of the term “career” has changed. Rather…

Managing Gains and Losses in a Turbulent Year

Article Highlights: Rough Year for the Stock Market Year End Approaching Annual Capital Losses Are…

Research Credit Potentially Doubled By The Inflation Reduction Act

Article Highlights: Inflation Reduction Act Research Credit Payroll Tax Option Research Credit Qualified Research Qualified…

Increased Tax Credits for Home Builders

Article Highlights: Contractor Developer Credit Retroactive Extension to 2022 Increased Credit 2023 through 2032 Prevailing…

Hurricane Ian SBA Disaster Assistance

Article Highlights: • Counties that Qualify For Loans • Application Deadlines • Types of Disaster…

Health Savings Accounts Fill Multiple Tax Needs

Article Highlights: Medical Savings Account Retirement Account High-Deductible Plan Eligible Individuals Monetary Qualification for an…

Bunching Your Deductions Can Provide Big Tax Benefits

Article Highlights:   Itemized Versus Standard Deductions Medical Expenses Taxes Charitable Contributions If your tax…

Not All Interest Is Deductible for Taxes

Article Highlights: Interest Categories Category Deductibility Interest Tracing Rules A frequent question that arises when…

Life Changing Events Can Impact Your Taxes

Article Highlights: Marriage Buying a Home Having or Adopting Children Getting Divorced Death of Spouse…

Home Energy Improvement Credit Is Enhanced

Article Highlights: Credit History New Law Enhancements Extensions Credit Limits Home Energy Audit Identification Number…

Portability of Unused Estate Tax Exclusion

Article Highlights: Estate Tax Lifetime Exemption Surviving Spouse Portability Election Financial Drawback Election Considerations Portability…

Tax Planning Checklist

All too often, taxpayers wait until after the close of the tax year to worry…

How Small Businesses Write Off Equipment Purchases

Article Highlights: Depreciation Materials & Supplies De Minimis Safe Harbor Expensing Routine Maintenance Unlimited Expensing…

What Does The Inflation Reduction Act Mean To You?

Article Highlights: Increased Internal Revenue Service (IRS) Funding Drug Pricing Affordable Care Act Insurance Premiums…

Don’t Ignore Household Employee Payroll Tax Rules

Article Highlights: Household Employees Tax Avoidance Filing 1099s Correct Procedures W-2s, Payroll Taxes and Reporting…

Business Owners’ Tax Advantages

CUTTING THE IRS OUT OF YOUR GIFTS

Article Highlights: Gift Tax Rule Annual Exemption Lifetime Exemption Medical and Tuition Exemptions Gift Splitting…

When Can You Dump Old Tax Records?

  Article Highlights: General statute is 3 years Some states are longer Fraud, failure to…

Foreign Income and Tax Reporting Issues

Article Highlights: Non-Resident Alien Spouse Foreign Rentals Foreign Pensions Foreign Income Exclusion FBAR Statement of…

Electric Vehicle Credits Phasing Out

Article Highlights: Tax Credit Credit Phase-Out Determining the Credit Off-Road Vehicles and Golf Carts Allocation…

Writing Off Your Business Start-Up Expenses

  Article Highlights: $5,000 First-year Start-up and Organizational Expense Write-off Timely Filing Requirements Qualifying Start-up…

Tax Filing Due Date Rapidly Approaching!

Just a reminder to those who have not yet filed their 2021 federal tax return…

Is Interest Paid on Borrowed Money Tax Deductible

If you borrow money will the interest you pay be deductible for income tax purposes?…

Hobby or For-Profit Activity? The Answer Makes A Dig Difference For Tax Purposes

If you are engaged in an activity that produces income, the big tax question is…

Twists and Turns of The Education Tax Credits

If you have a child or children in college, or perhaps you or your spouse…

Important Enhancements to Earned Income Tax Credit for 2021

The earned income tax credit (EITC) is regarded as one of the government’s largest antipoverty…

How Can a Nonworking Spouse Qualify to Fund an IRA

One of the fallouts of the COVID-19 pandemic is that millions of people have dropped…

Advance Child Tax Credit and EIP Must Be Reconciled on Your 2021 Return

Early in 2021 Congress passed the American Rescue Plan which included a provision that increased…

Tax Treatment of Reverse Mortgages

With inflation on the rise and medical care costs escalating, what options do seniors have…

2022 Standard Mileage Rates Announcement

As it does every year, the Internal Revenue Service recently announced the inflation-adjusted 2022 optional…

Tax-Free Gifting

If you are fortunate enough to have an estate large enough to be subject to…

Retroactive Termination of The Employee Retention Credit

If you claimed the employee retention credit (ERC) in the fourth quarter of 2021, you…

10 – 2021 Tax Planning Strategies to Consider Before Year-End

It seems hard to believe, but the holiday season is almost here and that means…

Biden Administration Backs Off On Proposed Bank Transaction Threshold

Article Highlights: Tax Compliance Hard-to-Trace Income Sources Two-Tiered Compliance Bank Transaction Reporting Threshold Tax-compliance rates…

Live Updates: The Latest News for Taxpayers and Small Business Owners

With the news coming faster and faster every day, we wanted to help our tax…

Are you a candidate for bunching?

Article Highlights: Standard Deductions Itemized Deductions Bunching Strategy Medical Expenses Taxes Charitable Contributions The changes…

Mid-Year Tax Planning Checklist

Article Highlights: End of Year Tax Planning Avoiding Unpleasant Surprises Events That Have Tax Consequences…

Education Credits are for Children? Think again!

If you think that education credits are just for sending your children to college, think…

A recession can be a great time to start or expand your business!

It’s safe to say that there are a lot of people worried about an impending…

Don’t Miss Out on 2020 Tax-Planning Opportunities

Article Highlights: Unemployment Benefits Taxability To Skip or Not Skip the 2020 Required Minimum Distribution…

Do you qualify for the Simplified PPP Loan-Forgiveness Application?

Article Highlights: Paycheck Protection Program Loans Forgiveness Application The Small Business Administration (SBA) The Paycheck…

Closing 2019 QuickBooks Online?

It would be great if you could have closed out your 2019 QuickBooks Online knowing…

Tuition Gifting Plans

Purpose of Qualified Tuition Plans Gift Tax Implications Special Five-Year Election Change of Beneficiary Eligible…

Looking Ahead – 2019 Taxes

You have your 2018 tax return filed, or perhaps on extension, and now it is…

What is a Virtual CFO?

On a basic level, a virtual CFO (or vCFO for short) is exactly what it…

Is Your Small Business as Profitable as It Can Be? It’s Time to Find Out!

There is an excellent chance that even if you’re an expert in your particular industry,…

Top 10 Startup Business Questions Every Entrepreneur Should Answer

Starting a small business can be one of the most exciting and rewarding events in…

Navigating The New 199A Pass-Through 20% Business Deduction

Taxpayers with higher 1040 taxable incomes who are self-employed but are not “specified service businesses”…

Holiday Gifts with Tax Benefits

Some holiday gifts you provide to members of your family, employees and others may also…

Saving Plans for Retirement and Education

When you are attempting to save money for your children’s future education or your retirement,…

8/27 Deadline – AZ Tax Credits losing Federal tax deduction!

Arizona Charitable Tax Credits may no longer be deductible for Federal taxes if made after…

IRS Regulations Clarify Business Pass-Through Deduction

Some of the major provisions of last year’s tax reform legislation were the many benefits…

Big Changes for Vehicle Tax Deductions

In the past, the business use of a vehicle was determined either by using the…

Has Tax Reform Taken Away Your Home Mortgage Interest Deduction?

The Tax Cuts and Jobs Act of 2017, more commonly referred to as tax reform,…

Can your Arizona S Corp help you beat the IRS’s new $10,000 state and local tax cap?

Under new federal tax law taking effect January 1st, 2018 the IRS will begin capping…

Summer Employment For Your Child

Article Highlights: Higher Standard Deduction IRA Options Self-Employed Parent Employing Your Child Tax Benefits Summer…

Good and Bad News About The Home Office Tax Deduction

Article Highlights: Home Office Qualifications Actual-Expense Method Simplified Method Income Limitation Employee Deduction “Home office”…

Tax Reform Suspends the Tax Deduction for Employee Business Expenses

Article Highlights: Employee Business Expenses Miscellaneous Itemized Deductions Subject to the 2% AGI Floor Accountable…

Divorce and the New Tax Law Brings a Plethora of Tax Planning Decisions

Article Highlights: Filing Status Claiming the Children as Dependents Child Exemption Head-of-Household Filing Status Tuition…

You May Not Get a Tax Refund Next Year

Article Highlights: Payroll Withholding W-4 2018 Tax Projection Adjusting Withholding With all of the tax…

Minimizing Tax on Social Security Benefits

Article Highlights: Income as a Factor Filing Status as a Factor 85% Maximum Taxable Base…

Cryptocurrencies and Taxes

Article Highlights: Virtual Currency Valuation Transactions Character of the Gain or Loss Foreign Currency Transactions…

Surprise! Extender Bill Passed: Do You Benefit?

Article Highlights: Mortgage Insurance Premiums Above-the-Line Education Expenses Exclusion of Home Cancellation of Debt Income…

Do you need a 1099 or W-2 filing extension?

If you are up against the January 31st filling deadline did you know a 30…

Reminder – Reduce your TAXES with Arizona Tax Credits!

There are a number of different Arizona Charitable, and Education tax credits available to Arizona…

Tax Reform Special Report

On Friday, December 22, 2017, the “Tax Cuts and Jobs Act” (H.R. 1) was signed…

Thinking of Tossing Old Tax Records? Read This First.

Article Highlights: Reasons to Keep Records Statute of Limitations Maintaining Records of Asset Basis Keeping…

Thinking of Becoming a Real Estate Flipper? Here’s a Primer on the Tax Rules

Article Highlights: Definition of Flipping Government Will Share in the Profits Tax Treatment Depends on…