Tax Tips

  If you operate a small business, or you’re starting a new one, you probably know you need to keep records of your income and expenses. In particular, you should carefully record your [...]

  While the COVID-19 crisis has devastated many existing businesses, the pandemic has also created opportunities for entrepreneurs to launch new businesses. For example, some businesses are [...]

  If you’re the owner of an incorporated business, you probably know that there’s a tax advantage to taking money out of a C corporation as compensation rather than as dividends. The reason [...]

  Outside financial audits may seem like an extravagance to not-for-profits working to contain costs and focus on their mission. But undergoing regular audits allows your organization to [...]

  If you’re self-employed and work out of an office in your home, you may be entitled to home office deductions. However, you must satisfy strict rules. If you qualify, you can deduct the [...]

Starting August 1, 2018 through August 5, 2018 you will not have to pay sales tax on certain purchases. During the sale tax holiday, the following purchases are not taxable: Clothing, if the [...]

Starting May 15, 2018 through July 2, 2018, you might be eligible for a one‐time $100 child tax rebate. This is a rebate on sales and use tax paid on purchases for raising a qualified child in [...]

Tax reform legislation might be enacted before year end. If it is, companies following U.S. Generally Accepted Accounting Principles (GAAP) will have to recognize the effects of the changes in [...]

What is Tax Planning? Tax planning is the process of looking at various tax options to determine when, whether, and how to conduct business transactions to reduce or eliminate tax liability. Many [...]

If you’re looking to save money on your taxes this year, consider using one or more of these tax-saving strategies to reduce your income, lower your tax bracket, and minimize your tax bill. [...]