Tax Tips

pIf there is one thing you as a taxpayer want to avoid, it is being audited by the IRS. While the chances of it are usually very slim, there are certain red flags that do get the attention of IRS officials now and then.

pWhen the time comes and you decide to hire someone to work for you as a housekeeper, nanny, caregiver, or similar job at your home, it’s vital that you understand the tax implications associated with such arrangements.  While some people who are employers in these situations don’t pay attention to the tax side of things, this is a mistake that may

pWith the recent coronavirus outbreak, discussions of paid leave, and states of emergency, more attention has been paid to sick time and paid time off than ever before. If you’re a small business owner with just a few employees, you might not have an official sick time policy.

pGetting a divorce can be one of the most stressful times in your life. In addition to the emotional toll, it costs, on a href=https://www.nolo.com/legal-encyclopedia/ctp/cost-of-divorce.htmlaverage, $15,500/a.

pDoes it sometimes feel like your accountant is speaking an alien language? You hired a CPA in the first place so you could benefit from their many years of experience and expertise. Obviously your CPA knows more than you do when it comes to taxes and taking advantage of the most beneficial financial strategies.

pTravel and entertainment are legitimate deductions, but few business owners take full advantage of them. One reason may be that they fear that the deduction will be challenged by the IRS and they’ll have to undergo the scrutiny of an audit.

p class=normalAs we get deeper into the 2019 tax season, some taxpayers are experiencing a delay in receiving their tax refunds.  The old adage that if you are expecting a refund you should file early seems to be coming under fire a bit in recent years, but none so much as the 2019 tax season.  But why?/pp class=normalThe delay has little to do wit

p class=normalTaxpayers know that there are tax deductions out there to be utilized to reduce the taxes paid on your income.  Most are aware of the common deductions, but there are many deductions that simply get overlooked by most taxpayers. /pp class=normalGifts to charity is a good place to start.  Most taxpayers know that when you give a gift o

pIn recent years, the economy has been having its share of ups and downs.  When businesses and private citizens want to secure financing from financial institutions to make large purchases, the economy can greatly influence the bank’s willingness to loan funds.  In an unknown or down-turned economy, the installment sale lends itself as a great alte

pFor most standard wage earners, preparing for your tax filing is fairly simple.  You receive a Form W2 in the mail and unless you have other rental properties or other complications, your return is relatively straightforward.  But for the freelancer, things aren’t quite as simple./ppWhen you are a sole proprietor, independent contractor, freelance