April 5, 2018
Beginning in 2014, the Affordable Care Act, also known as Obamacare, imposed what a “share-responsibility payment” on taxpayers who did not sign up for minimum essential health coverage. This payment is essentially a penalty for not being insured.
April 4, 2018
If you trade cryptocurrencies like Bitcoin you are required to report the transactions for tax purposes.
The IRS wants its cut and you may not know it. Call our office for assistance. Learn more in the video below.
April 3, 2018
Just a reminder that the due date for 2017 tax returns is April 17, 2018! There is no penalty for filing late if you are receiving a refund. However, it is quite a different story...
March 29, 2018
The latest set of figures is for 2015 tax returns and provides some interesting statistics on the adjusted gross income of US taxpayers. See more
March 29, 2018
Article Highlights:
Note: This one of a series of articles explaining how the various tax...
March 27, 2018
Article Highlights
Note: This is one of a series of articles explaining how the various tax changes made by the GOP’s Tax Cuts & Jobs Act (referred...
March 27, 2018
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How much (if any) of your Social Security benefits are taxable depends on a number of issues. The following...
March 22, 2018
If you ever wanted proof that quality company leadership is critical to an organization's success, look no further than the old saying of "people don't quit their jobs. They quit their leaders." To that end, being an efficient CEO involves a lot more than just "having a vision" or "barking orders." It's not about commanding anyone to follow your lead - it's about showing, beyond a shadow of a...
March 22, 2018
April 1 - Last Day to Withdraw Required Minimum Distribution
Last day to withdraw 2017’s required minimum distribution from Traditional or SEP IRAs for taxpayers who turned 70½ in 2017. Failing to make a timely withdrawal may result in a penalty equal to 50% of the amount that should have been withdrawn. Taxpayers who became 70½ before 2017 were...
March 22, 2018
April 2 - Electronic Filing of Forms 1098, 1099 and W-2G
If you file Forms 1098, 1099 (other than 1099-MISC withan amount in box 7), or W-2G electronically with the IRS, this is the final due date. This due date applies only if you file electronically (not paper forms). Otherwise, January 31 or February 28 was the due date, depending on the form...
March 21, 2018
Are your customers slow about paying their invoices? QuickBooks can help accelerate your receivables.
Your company’s cash flow depends largely on how quickly your customers pay the invoices you’ve sent. And if you’re like most small businesses, those checks tend to dribble in close to—and after—the due date. If you operate on a slim margin, this often...
March 20, 2018
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If you aren’t one of those lucky Americans who gets a tax refund from the IRS you might be wondering about your options for paying off your tax...
March 19, 2018
April 17th is the due date this year, thanks to the 15th falling on a weekend and Emancipation Day in Washington DC observed on Monday the 16th.
Return not finished yet? Still waiting for some missing information?
Better consider filing an extension along with any tax due, giving you until October 15, to file.
March 16, 2018
If you don’t file it by April 17, 2018 you forfeit any refund you have coming.
March 16, 2018
Starting a new business can be an exciting and scary process. Here are 11 things you should think about before you take the plunge with your startup.
March 15, 2018
Article Highlights:
Note: This is one of a series of articles explaining how the various tax changes made by the GOP’s Tax Cuts & Jobs Act (referred to as the “Act” in the article),...
March 15, 2018
Article Highlights
If you have already filed your federal tax return and are due to receive a refund, you can check the status of your refund online.
March 13, 2018
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Ever wonder where your income puts you in comparison with the rest of the U.S. taxpayers? Each year the Internal Revenue Service publishes a Statistics of Income Bulletin. The latest set of figures is for...
March 13, 2018
The IRS has made great strides in cutting down on tax refund fraud and other IRS scams. But, taxpayers are still falling for some of the schemes. Here are three red flags of a scam.
March 8, 2018
Article Highlights:
Note: This is one of a series of articles explaining how the various tax changes made by the GOP’s Tax Cuts & Jobs Act (referred to as the “Act” in...
March 6, 2018
You should know the standard mileage rate for 2018 increased to 54.5 cents per mile.
The standard mileage rate for each year is based on vehicle operating costs in the prior year as determined in a cost study contracted by the IRS.
Tax reform has changed some of the tax rules. Watch below to learn more
March 6, 2018
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March 4, 2018
If you have income from a sole proprietorship, rental, farming or…
Flow-through income from partnerships, S-corporations or other flow-through business entities or…
REIT dividends, income from publicly traded partnerships or cooperative dividends…
You may qualify for the new Sec 199A deduction.
Learn more below or call this office for assistance.
March 1, 2018
Article Highlights:
Note: This is one of a series of articles...
February 22, 2018
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Note: This is one of a series of...
February 19, 2018
Article Highlights:
Note: This is one of a series of articles explaining how the various tax...
February 19, 2018
Previously, we learned about getting QuickBooks ready for time-tracking by activating it in Preferences. We also created a record for a service item. Now we’ll actually use that record in the two ways you’ll be using it in QuickBooks: to pay employees for their hourly work and to bill customers for services.
Recording Employee Hours...
February 19, 2018
If creating a start-up business were an easy thing to do, then a lot more people would be doing it. For those who make the decision to fulfill their dreams and go for it, success relies on being fully prepared. Some of the most common stressors encountered by entrepreneurs involve tax liabilities, whether business is booming or they’re struggling to keep their head above water. The best...
February 15, 2018
Article Highlights:
Note: This is one of a series of articles explaining how the various tax changes in the GOP’s Tax Cuts & Jobs Act (referred to as “the...
February 12, 2018
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February 9, 2018
Article Highlights:
Note: This is one of a series of articles explaining how the various tax changes in the GOP’s Tax...
February 7, 2018
Article Highlights:
Note: This is one of a series of articles explaining how the various tax changes in the GOP’s Tax Cuts & Jobs Act (referred to as...
February 6, 2018
Article Highlights:
Note: This is one of a series of articles explaining how the various tax changes in the GOP’s Tax Cuts...
February 1, 2018
The passing of tax reform brings many questions and tax planning opportunities. In this short video, we highlight some of the main issues.
February 1, 2018
Article Highlights:
Note: This is one of a series of articles explaining how the various tax changes in the GOP’s Tax Cuts & Jobs Act...
January 30, 2018
Article Highlights:
Note: This is one of a series of articles explaining...
January 29, 2018
Tax season officially started January 29, 2018. Watch our helpful video to learn how to prepare for your tax appointment. And most importantly, save on your taxes this year.
January 25, 2018
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As promised several months back, the IRS has begun to crack down on seriously delinquent taxpayers. A law passed on Dec. 4, 2015, requires the IRS to notify the U.S. State Department when someone has “seriously...
January 25, 2018
After over 30 years of little changes to the tax code, the “Tax Cuts and Jobs Act” (H.R. 1) delivered a major change to the law for 2018. The changes affect both individuals and business owners, so careful planning and analysis are needed to make the right financial choices. We have compiled the best coverage of the tax reform issues below. Feel free to bookmark this page as we...
January 24, 2018
Building a business is a process that requires careful attention to many individual points, all with the goal of increasing customers, improving products, and building profit. There are many elements that contribute to the ability of a company to grow. One key area to focus on is the budget. From the foundation of the business, a well-planned budget can create a financially sound business...
January 23, 2018
When you sell a product to a customer, you know it. It goes away, and your inventory count in QuickBooks is reduced by one. This tracking helps you know what’s selling and what’s not, and it signals when a reorder is due.
If your business provides services to customers, though, you’re selling your employees’ time and skills. There’s no...
January 23, 2018
Article Highlights:
Note: This...
January 16, 2018
Article Highlights:
Note: This is one of a series of articles explaining how the various tax changes in the GOP’s Tax Cuts & Jobs Act (referred to as...
January 11, 2018
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January 9, 2018
It has been a busy time for tax-related news and upcoming changes. We have compiled many of the tax changes, deductions and tax rates for easy reference year round. It is more important than ever to plan ahead and review your options to maximize your financial results. Also please visit our side-by-side comparison of 2017 tax law and and the recently enacted "Tax Cuts...
January 4, 2018
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If you’re like most taxpayers, you find yourself with an ominous stack of “homework” around TAX TIME! Pulling together the records for...
January 3, 2018
Article Highlights:
From time to time, an owner of a small business...
Beginning in 2014, the Affordable Care Act, also known as Obamacare, imposed what a “share-responsibility payment” on taxpayers who did not sign up for minimum essential health coverage. This payment is essentially a penalty for not being insured.
If you trade cryptocurrencies like Bitcoin you are required to report the transactions for tax purposes.
The IRS wants its cut and you may not know it. Call our office for assistance. Learn more in the video below.
Just a reminder that the due date for 2017 tax returns is April 17, 2018! There is no penalty for filing late if you are receiving a refund. However, it is quite a different story...
