Resources
What’s Buzzing
December 28, 2019
Owning a home is an exciting milestone to hit. It’s even more exciting when you go to sell your home and make a nice little profit. Through all of the moving parts that come with selling a home, let’s be honest, the last thing sellers are thinking about is what their taxes will look like. As if selling your place isn’t tedious and complicated enough, there are several tax rules that are attached to it, as well. Don’t be intimidated, we’re here to break down some of the basic tax implications for you
July 8, 2019
April 15th has come and gone, but before you know it you will be gearing up for the next one. Just because the next tax season seems far away, it’s important to stay on top of planning. So, this is a perfect time to reflect on what you can do to make prep for next year as pleasant as possible. To help lessen taxes and increase your tax refund in conjunction with your next tax return, planning throughout a given tax year is crucial. We want to give you a few tips for tax planning to make next tax season as seamless as possible.
Top Six Tax Mistakes Parents Make
January 15, 2019
Your children might put a nice little dent in your bank account from time to time, but during tax season, they might make that bank account grow. Tax season is the one time of year when your kids can actually put more dough in your pockets, thanks to some parent-friendly deductions and credits. The bad news is that it’s easy to miss tax breaks that could save you serious cash. It’s not as simple and straightforward as one might think...
Four Types of IRS Audits and How to Deal with Them
November 20, 2018
IRS audits are thorough examinations of a tax account and financial information, performed to ensure that what was reported on the tax return is accurate and tax laws are being adhered to. Chances of being audited by the IRS are slim. In fact, unless you have a very high income, your odds are less than 1 percent. It can happen though, so it is better to be prepared and hold knowledge of your rights and how audits work.
Important Tax Deductions for Business Owners
November 8, 2018
We know you work hard as a small business owner. We also know that owning a small business can be complicated and stressful, especially during tax season. One way to reduce that stress, and your income tax bill, for the upcoming tax season is to claim all of your tax deductions. What does a tax deduction do for you? A tax deduction lowers your taxable income, which thus lowers your tax liability!
Avoiding Payroll Tax Penalties
October 22, 2018
If you are an employer, despite whether you have one employee or 500 employees, you are responsible for payroll taxes. Before we get into the nitty gritty, let’s first define exactly what payroll taxes are. Simply put, payroll taxes are the taxes that an employer is required by law to withhold from an employees’ paycheck to pay directly to government agencies. Missteps or withholding the money for payroll taxes can results in hefty penalties, and lead to an IRS audit or an IRS criminal tax investigation...
October 8, 2018
Did you know that identity theft is a crime that impacts more than 10 million consumers every single year? That means one out of 20 consumers is at risk. Unfortunately, identity theft is very real, and with the advancements in technology, it has become easier and easier for criminals to steal identities. Even more alarming, is it is no longer only consumers that are at risk. Although we most commonly associate identity theft with consumers, it is also a threat to businesses, as well....
October 1, 2018
Have you thought about your retirement savings lately? Do you know how much you will need to save for retirement in order to spend those years comfortably? Are you nearing your retirement and unprepared?
Whether you're already retired, soon to be retired, or just getting started in your career, it is never too early to start planning for your retirement...
September 15, 2018
To set your new business up for success, one of the first things you should consider is hiring a trusted accounting firm. Why is this so important? Because accounting is the pulse of any business. Expenses, cash flow, budgeting, income and more are all required functions for any size company in any industry....
