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Tax Benefits For Those 50 & Older
Once you turn 50, and especially after age 65, or are retired, you can qualify for tax benefits to help minimize your tax burden. If you or a loved one fall into these categories, here are seven of the most important tax deductions to use to your advantage: 1. Larger...
Qualified Business Income (QBI) Deduction
There is a lot of confusion surrounding the new Section 199A Qualified Business Income Deduction. Let’s try to shed light on this new rule. What is QBI? The qualified business income (QBI) deduction provides a significant opportunity for business owners to cut...
8 Ways the Tax Cuts & Jobs Act Could Affect You
The sweeping tax plan that Congress passed last December includes lower tax brackets and a nearly doubling of the standard deduction. But plenty of taxpayers who are starting their tax planning for 2018 are hitting complications, due to several provisions that remain...
A 12 Point Tax Planning Checklist
Beyond football season and fall festivities, it’s also a perfect time to take advantage of all the tax knowledge and tools at your disposal before December 31st. Pre-planning now will help you to estimate your income taxes, qualify for the right...
Should You Change Your 2018 Withholding?
Will Your Withholding Cover Your Taxes? According to the Government Accountability Office, 2 in 10 taxpayers will owe money to the IRS next year. That means that over 30 million people aren’t withholding enough or not paying enough in estimated...
7 Apps To Store Receipts & Tax Records
Tracking expenses is critical as you keep a handle on the financial pulse of your business financials. It is also required if you need to document your expenses to prepare an accurate tax return. Plus, if you’re audited by the IRS or state tax authorities, you may...
Federal Tax Filings Due
Due date for Tax Extensions for 2017 Federal Income Tax Returns. You can start preparing and efiling Your Extension mid-March 2018 on efile.com.
Estimated Taxes At A Glance
April 10, 2018 - If you are self-employed, or if you have income other than your salary, (from a business, alimony, stock sales, rent, dividends and other sources) you may need to pay estimated taxes each quarter to square your tax bill with the IRS. Estimated tax is...
Can’t File Your Taxes On Time? Here’s What To Do!
This year’s tax-filing deadline is Tuesday, April 17. Don’t procrastinate. If you feel as if you need more time to file your tax return, filing an extension may be your best option. Taxpayers needing more time can get an automatic six-month extension from the IRS....
Become More Tax Savvy In 2018
March 7, 2018 - Our tax code is massive, complex, and constantly evolving. Understanding the tax system seems daunting, but is essential for individuals and especially for every business owner. Many decisions we make have tax consequences that can affect our wallet....