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…
Tax Deductions You Can No Longer Count On
Tax Deductions You Can No Longer Count On The Tax Cuts and Jobs Act of 2017 enacted changed that start to take effect this tax season. Some of these changes are that there are tax deductions that you can no longer take advantage of. In this article, we are going to go over the tax deductions that are going away. Personal and Dependent Exemptions Personal and dependent exemptions used to allow you to reduce your [...]
Preparing for Your 2018 Tax Return
2018 Tax Return The 2018 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 things you can do is review your 2017 tax return. Look over your problematic or stressful areas that you dealt with last [...]
Gift Tax
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 will depend on how much the fit was worth and how it was given to. Typically, any gift given to [...]
Charitable Donations and Tax Deductions
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 four main types of charitable donations. These include: Cash: Cash is the most common of donation. Intangible Assets: This category [...]
Payroll Basics
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. In this article, we will go over the payroll basics you need to know to execute your role as employer properly. Employee Forms The first step to successful payroll is ensuring that you have all of the correct employee forms completed and on [...]
Windfall Tax Planning Strategies
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 planning strategies that will help you deal with these situations. Spread It Out The IRS taxes any bonus you receive [...]