TAX PREPARATION
Did you know that every 4 out 5 tax returns contain errors, and those errors may be causing you to overpay on your income taxes.
TAX PLANNING
Our clients receive proactive advice on tax reduction strategies based on income, expenses, individual needs, and goals.
BOOKKEEPING/PAYROLL
Running a business is already a time consuming and overwhelming feat. Don’t allow your bookkeeping and payroll obligations distract you from what you are good at…
1031 Exchange
1031 Exchange If you are a real estate investor or own any type of real estate that produces income for you, you should be familiar with a 1031 exchange. This exchange allows you to defer capital gains if you sell your investment property and use the money to purchase a new investment property. These exchanges can be very complex and must follow many different guidelines. In this article, we will go over some basics [...]
6 Things You Should Know About the Taxation of Your Side Job
Taxation of Your Side Job The opportunities to make money on the side seem endless. You may use an app like Uber, Lyft or Airbnb or you run your own business on the side. Whatever you do, it is important that you understand the taxation of your side job. Not preparing and having a proper understanding of the taxation could end up costing you. In this article, we will go over six important things [...]
8 Bookkeeping Tips to Keep Your Business Running Smoothly
Bookkeeping Tips Bookkeeping is an essential component of having a successful business. However, bookkeeping is only beneficial if done correctly. If you are not confident that you can do it correctly in-house, then you may make the decision to outsource it to an accountancy firm. Of course, if you choose to do this then you'll only want the best. But if you decide to do it yourself, you'll want to read on, as below [...]
Amending Your Tax Return
Amending Your Tax Return-Why & When Amending your tax return allows you to change your tax information with the IRS. Why would you want to file an amendment? When should you do so? We will answer these questions and more in this article. Why Amend Your Return When considering whether or not to file an amendment, you should ask yourself if the first return was accurate to the best of your knowledge. If it [...]
Investment Taxation
Investment Taxation As you get ready to file your taxes, you may be wondering about investment taxation. In this article, we will go over the basics of how your investments are taxes so you can prepare to file your taxes. Different Types of Income One of the factors that determine your taxation is the type of income that your investment earned. There are several different ways your investment can create income. These include: Interest [...]
Rental Property Taxation
Taxation of Rental Property Rental property serves as a steady source of primary or secondary income for many. If you own rental property, there are several tax topics that you should be familiar with. In this article, we will go over the basics of rental property taxation. Rental Property Income According to the IRS, rental income is any payment that you receive for the use or occupation of a property. Any rental income that [...]