Posted By  |  March 8, 2019

The good news is that it’s not just businesses that can deduct vehicle-related expenses. Individuals also can deduct them in select circumstances. The bad news is the Tax Cuts and Jobs Act (TCJA) might reduce your deduction compared to what you claimed on your 2017 return. For 2017, miles driven for business, moving, medical and […]

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The March deadline applies to calendar-year partnerships, S-Corporations, and limited liability companies (LLCs) treated as partnerships or S-Corporations for tax purposes. March 15th is the federal income tax filing deadline for these “pass-through” entities. Updating the deadline Until the 2016 tax year, the filing deadline for partnerships was the same as that for individual taxpayers: […]

Posted By  |  January 4, 2019

As the 2018 tax season quickly approaches us – now is a great time to start gathering documentation and making an appointment to meet with your CPA. Once the tax year has ended, it is typically too late to apply any strategy to reduce your  2018 business tax. Therefore, as a business owner, shifting your […]

Posted By  |  November 15, 2018

As we near the end of 2018, now is a great time to analyze the mutual fund holdings in your taxable accounts and take steps to avoid potential tax snares. Here are some helpful ideas for you to keep in mind. Understand your capital gains Capital gains are unavoidable on mutual funds by merely holding […]

Posted By  |  April 24, 2018

Is your computer desktop filled with digital tax-related files that you do not know what to do with? Or are you finding your office filled with years’ worth of copies of tax returns, receipts, canceled checks and other financial records? Although you may be tempted to get rid of everything after filing your 2017 income […]

Posted By  |  April 18, 2018

Although we are coming to an end with the April 15th deadline (actually was moved to April 18th this year due to IRS system issues)  there are other key dates to keep in mind. Here is a list of general important tax-related forms, payments and other actions due. Please note that this list does not […]

Posted By  |  March 28, 2018

During the busy tax-filing season it can be easy to forget about other important tax-related deadlines for your business. It is critical to have either a personal accountant or a designated person that helps manage the business tax payments that are due quarterly through the year.  Staying up-to-date and making those estimated payments will help […]

Posted By  |  March 21, 2018

Home-related deductions are some of the most common savings on taxes each year. If you own a home, you are most likely eligible for several of these tax breaks when you file your 2017 return. Here’s how you should be taking advantage of these savings for the 2017 tax year. Home-related tax breaks for 2017 […]

Posted By  |  March 20, 2018

If you suffered damage to your home or personal property last year, you may be able to deduct these “casualty” losses on your 2017 federal income tax return. For 2018 through 2025, however, the Tax Cuts and Jobs Act suspends this deduction except for losses due to an event officially declared a disaster by the […]

Posted By  |  April 11, 2017

Because of a weekend and a Washington, D.C., holiday, the 2016 tax return filing deadline for individual taxpayers is Tuesday, April 18. The IRS considers a paper return that’s due April 18 to be timely filed if it’s postmarked by midnight. But dropping your return in a mailbox on the 18th may not be sufficient. […]