2019 Tax Return The 2019 tax return changes have many people concerned. But the more prepared you are, the less likely you are to experience any negative surprises. In this article, we will go over five helpful tips to prepare for your 2018 tax returns. Review Your 2017 Return One of the best [...]
Gift Tax Gift tax is a tax that you potentially may have to pay for gifting property to another person. In this article, we will go over the basics of how gift taxes work, so you can understand how it affects you The Basics Whether or not your gift will be subject to tax [...]
Charitable Donations and Tax Deductions If you are making charitable donations throughout the year, you may be able to use them as itemized deductions. In this article, we will go over the different types of charitable donations. As well as what qualifies as a deductible donation and limitations. Types of Charitable Donations There are [...]
Payroll Basics As an employer, it is your responsibility to understand payroll basics. This important because it is your responsibility as the employer to make sure that everything is executed properly. You can outsource these services (go now) or you can do it in-house. There are a number of professional employer organization (PEO) companies [...]
Tax Planning for Divorce When caught up in the moment tax planning for divorce is probably the last thing on your mind. However, it is important not to ignore it as a divorce can have severe consequences on your taxes. In this article, we will go over the basics of tax planning for divorce. [...]
Windfall Tax Planning Strategies Receiving a bonus, inheritance, lottery winnings, or any other type of unsuspected windfall can lead to serious tax consequences. You may find yourself in a higher tax bracket, subject to paying Alternative Minimum Tax or disqualified from tax credits or deductions. In this article, we will go over windfall tax [...]
5 Things to do After You File Your Tax Return By thinking ahead, you can get your finances in order now so that you can have an easier time when tax season is here again. Even though you may not want to think about taxes during the offseason, taking a little time now will save [...]
Retirement Income Taxation Retirement income taxation is something that many overlook when planning for retirement. But it is a very important subject that you should not forget about, as it can make a big difference in what you have left to live on. In this article, we will go over the taxation of several [...]
2018 Business Tax Changes The Tax Cuts and Jobs Act, which became law in December of 2017, cause a major overhaul of previous tax law. This change affects both business and personal taxes. In this article, we will go over 4 of the biggest 2018 business tax changes. 1. Corporate Tax Rates In previous [...]
Schedule C Schedule C is an attachment to the federal Form 1040. You use this form to report profit or loss from a business that is a sole proprietorship or an LLC that is set up as a disregarded entity with the IRS. Additionally, if you receive a 1099-MISC you will need to file [...]
