For most people, the IRS is the government agency that they want to work with the least. They want to take your money, they have many loopholes that could affect your financial situation, and an audit is the last thing anyone wants to go through. Just this month, a new law was enacted that will make working with […]
The Home Office Deduction can be extremely beneficial to help lower your total taxable income…. if you qualify for it.
Similar to the Bill of Rights we have as U.S. Citizens, we have a separate Bill of Rights as Taxpayers. Knowing your rights as a taxpayer can play a crucial role in any interaction with the IRS. Here are your rights as a taxpayer and how they can help you. 1. The Right to Be Informed Taxpayers have the right to know […]
If you have been through an audit, whether on personal or business, you know that it can be incredibly stressful and time-consuming. As small business owners, we all know that time is limited and time is money. Make sure that you are filing your taxes in a way that can help mitigate the chances of […]
What is an HSA An HSA is a government-regulated savings account that allows you to set aside income to cover health care costs that aren’t paid by your insurance. Health savings accounts are only available to people who have a qualifying, high-deductible insurance plan. HDIPs are defined differently from state to state, but generally, they […]
Let’s face it, there are thousands of CPA’s and tax firms out there that claim they are the best fit for your taxes, but the fact is, not everyone is qualified and understands your specific business and personal needs. There have been many tax changes that have taken effect over the last year that can […]
The Tax Reform – The Tax Cuts and Jobs Act, enacted in December 2017, affects nearly every business and individual in 2018 and the years ahead. As a small business or self-employed taxpayer, you should understand how the new tax law could affect your bottom line and how the changes for individuals relate to your business situation. Other than […]