So, why do we think early tax planning is appropriate this year? Actually, with the prospect of major tax reform on the horizon, some strategies can be put into place before the end of the year that can substantially reduce your 2017 tax bill. That would be nice.
Do I have to file a tax return? This is a question many taxpayers ask during this time of year – tax time. The question is far more obsure than people believe. To fully understand, we need to consider that there are times when individuals are REQUIRED to file a tax return, and then there are times when it is to individuals’ BENEFIT to file a return (even if they are not “required” to file).
Childcare providers, did you know that the tax law provides you with special tax breaks. Daycare tax breaks are not limited to childcare providers only. They also include those who care for the disabled and eldercare providers as well. These daycare tax breaks include deductions for travel, capital purchases, supplies, children’s meals and the business use of your home.
Are you ready for your mid-year tax check up? No, we are not talking about at your doctor’s office. We are talking about at your tax preparer’s office. You would think July would give you some vacation time from tax deadlines. These tax due dates are fast approaching for July.
By: Cindy Toran, MBA, BA Have you ever thought of hiring your spouse? If you did, should you provide them with health insurance? There are potential advantages and disadvantages to formally hiring your spouse if you own a … Read More
by Alex Franch, Tax Specialist In 2013, the IRS implemented an optional simplified method of calculating the Home Office Deduction. The intention was to reduce the paperwork and record keeping burden on small businesses. Limited and … Read More