Don't wait until last minute to get your taxes completed! You can always depend on us to return any messages or phone calls in a timely fashion!
When does a tax benefit not become a tax benefit? When you assume you no longer need to keep track of something. This is the case with the home gain exclusion.
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The Lost Art of Tracking Home Improvements - How a tax law makes us sloppy and creates a tax risk
All too often taxpayers take action that will cost them dearly when they file their tax return. With a little planning, however, the IRS can still receive its fair share but not a dollar more. Here's what you need to know.
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Don't Run the Risk of a High Tax Bill! - Know when you should ask for professional help.
Did your paycheck seem a little higher? If so, it could be a tax time bomb.
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Is a Tax Time Bomb Lurking in Your Paycheck?
Here's the best way for a small business to fight embezzlement. Also read about how to better take care of your employees in the midst of the economic uncertainty everyone has been facing this year.
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Tax & Business Newsletter: September 2020
If you have not already done so, please plan to make your second quarter estimated tax payment. The due date is Tuesday, September 15th.
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Reminder: Third Quarter Estimated Taxes Due - Now is the time to make your estimated tax payment
Having your tax return reviewed by the IRS is never fun. Here are suggestions to ensure you come out on the right side of an audit.
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Tax Planning Insights: October 2020
If you recently changed your name due to marriage or divorce, do not get caught in the nightmare of a rejected or changed tax return by the IRS.
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Avoid Name Mismatch Audits
Find out if a tax trap is lurking in your paycheck and what to do with your 401(k) when switching jobs. Also read about business website mistakes and fascinating facts about your favorite fall gourd.
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Client Update Newsletter: October 2020
The Social Security Administration recently announced their 2021 Cost-of-Living Adjustment (COLA) changes. Here is what you need to know.
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2021 Social Security Changes Announced
Oops! You find an error or omission on last year's tax return. What should you do? Is it always a good idea to file an amended tax return? Here are some things to consider.
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To Amend or Not Amend? - Is it always a good idea to amend your tax return if you find an error?
Bolster your business's credit rating to make it easier to borrow cash when you need it. Also read about how applying for forgiveness for your Paycheck Protection Program loan just got a lot easier.
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Tax & Business Newsletter: October 2020
If you own a home you probably itemize your deductions on your tax return. But what if you do not itemize? Can someone using the standard deduction still get a tax break?
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Tax Savings for Non-Itemizers - Can't itemize? There are still tax breaks for you
There is a financial trap hidden within your estate that could cost you thousands. Here is what you need to know.
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Tax Planning Insights: November 2020
Looking for some ideas to make filing your taxes less cumbersome? Here are some tips.
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Tips to Organize Your Tax Records - Creating order out of chaos
More income is subject to Social Security in 2021 and new benefit amounts have been announced. Plus lots of great ideas to save you, your family and your business money is in this month's letter.
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Client Update Newsletter: November 2020
Get your business in shape with an internal audit. Also find out how to increase your business's cash flow by curbing excessive spending in these four areas.
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Tax & Business Newsletter: November 2020
Looking to plan ahead? Here are initial figures from the IRS regarding the upcoming, 2021 tax year.
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IRS Releases Key 2021 Tax Information
As Congress debates tax law changes, and we watch the give and take like its a bad soap opera the clock keeps ticking towards the end of the tax year. So what can you do? Here are some time tested tax reduction ideas.
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Lower Your Taxes THIS YEAR! - Here are 6 ideas that most people can use
The tax code is filled with age triggers. Some are beneficial, while others can create a tax increase surprise. Outlined here are some of the important age triggers everyone should know.
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Age (not death!) and Taxes - Age does matter, when it comes to tax obligations
Here are 15 ideas that may reduce your tax bite for this year. But act soon as the year-end is fast approaching.
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15 Year-End Tax Tips
Turn your home office into a tax deduction. Also read about common IRS surprises, how to use depreciation to manage your business's profit margin and ideas to help your kids with virtual learning.
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Client Update Newsletter: December 2020
With the setting of contribution limits to qualified retirement plans for 2021, now is a good time to plan for your upcoming retirement contributions.
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Plan Your 2021 Retirement Contributions
As 2020 is coming to a close, here are four tax planning moves you should consider.
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Tax Planning Insights: December 2020
Unlike fishing, phishing has no limits and can hurt anyone it touches. As one of the top 12 IRS tax scams, you do not want to take this bait. Here is what you need to know.
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Gone Phishing?
Save money and get ready for tax season with these year-end small business tax tips. Also read how to make cold calling a key part of your business development toolbox.
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Tax & Business Newsletter: December 2020
Are you capturing all the tax benefits built into homeownership? Here are the most common.
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Your Home. A Bundle of Tax Benefits.
Here are the standard mileage rates for 2021.
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2021 Mileage Rates are Here! - New mileage rates announced by the IRS
Plan now to make your 4th quarter estimated tax payment.
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Reminder: Fourth Quarter Estimated Taxes Now Due - Now is the time to make your estimated tax payment
More stimulus payments are on the way! Also ready about the latest PPP loan update, find out how much you can contribute to your retirement fund in 2021 and see Uncle Sam's New Year's resolutions.
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Client Update Newsletter: January 2021
A recent voter initiative in California overrules the state's desire to make all Uber and Lyft drivers employees. This puts a spotlight on all workers to know the difference.
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Are You a Contractor or Employee? - Knowing the difference is very important
Another round of stimulus payments will greet many of you in January thanks to a new COVID relief package enacted by Congress in December. Here's what you need to know about the new legislation.
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Tax Planning Insights: January 2021
There is more money available for a new round of PPP loans courtesy of the Emergency Coronavirus Relief Act of 2020. Here's who qualifies to receive funds from this new round of funding.
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More PPP Loan Funds Available For Small Businesses
Business expenses paid with money from forgiven PPP loans are now deductible. Here's what you need to know.
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PPP Loan Expenses Are Now Tax Deductible
Be on your guard as the IRS identity theft season starts in late January. Here's what you need to know.
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IRS Identity Theft Season Begins Now
You can now deduct expenses paid with PPP loans on your tax return. There's also a new round of funding for additional PPP loans if your business is struggling. Read about what it means for you.
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Tax & Business Newsletter: January 2021
Lots of tax law changes this year! Read on to find out more.
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What's New in 2021
Learn about a new tool to protect your tax return from would-be thieves. Plus find out how you are giving away the most valuable thing you own!
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Client Update Newsletter: February 2021
So many 1099's. How do you keep them all straight? Here is a quick review of the most common 1099's to help you prepare to file your tax return.
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Alert: Look for New 1099 NEC - Your 1099's are coming soon
After a long pilot program, the IRS is making its identity theft PIN program available to all taxpayers. Here is what you need to know.
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IRS Identity Theft Program NOW OPEN! - New one-time use PIN option available for all
There are a few areas within the tax code that can cause an unpleasant surprise when encountered. Thankfully they do not happen too often. Here are six you should know about.
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Oops! I Wish I Knew That.
Read about three time-tested steps you can take to start implementing your 2021 tax planning strategy. Here's what you need to know.
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Tax Planning Insights: February 2021
The IRS often sees the transfer of funds as a loan, whether there is a loan agreement or not. This also means there is an implied term and interest payment. When the IRS says a transaction is a loan, what interest rate do they use? Enter AFRs. Here is what you need to know.
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Understanding Tax Terms: AFRs
As tax season gets underway, here are several new business-related tax provisions that could help cut your tax bill in 2020. Also read about the pros and cons about starting a business with a friend.
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Tax & Business Newsletter: February 2021
Now is the time for taxes AND reviewing your Social Security earnings report.
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Review Your Social Security Earnings Report
Get answers to common tax questions and read about the new world of bank reconciliations. And why not have some fun with a resurgence of these classic or newly popular board games.
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Client Update Newsletter: March 2021
Major life changes can be stressful, not least because they often affect your taxes. Here are several ways that your tax situation can change due to major life events.
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Tax Planning Insights: March 2021
Fair market value is often one of the IRS's go-to items when auditing you. Here is what you need to know.
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Defending Fair Market Value
Prior to filing your tax return, take a moment to review it for accuracy. Here are some hints.
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Tax Return Review Hints
A surprise tax break for the unemployed is creating havoc on filing tax returns this year. Here is what you need to know.
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ALERT! 2020 Tax Date Delay AND Unemployment Income Now Tax Free - What you need to know
Should you hire a contractor or an employee? Read about getting your worker classification right to avoid trouble with the IRS. Also find out how to engage with your customers on social media.
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Tax & Business Newsletter: March 2021
Looking for tax-free income? Here is a list of the more common types.
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Income the IRS Can't Touch
Should you hire a contractor or an employee? Read about getting your worker classification right to avoid trouble with the IRS. Also find out how to engage with your customers on social media.
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Tax & Business Newsletter: March 2021
