Tax season guide to small business expense deductions

 BUSINESSADVERTISER DISCLOSURE From the kind of expenses you can – and can’t – deduct to the right rewards card to use to pay for deductible expenses, here’s everything you should know. by Rebecca Lake March 9, 2020 see original article at Creditcards.com Summary Claiming deductions can save your business money on your tax return, but you…

Read More

Business Deduction or Entertainment?

Does the Tax Cuts and Jobs Act (TCJA) help you save money on your business deductions?  Many businesses were frustrated by changes in allowed dining and entertainment deductions.  Did you know there are proposed regulations addressing that elimination of deductions for entertainment, amusement or recreation activities related expenditures?  New guidance will be offered to determine whether…

Read More

Common Tax Mistakes to Avoid

AcctServices.org reminds you of several common taxpayer errors that can impact your refund, and possibly your taxes, this year and beyond.  A quick check before filing can save you much pain later.  Here’s the list from the IRS of frequently received tax filing mistakes: Missing or Wrong Social Security Numbers, or EIN numbers.  Unless this…

Read More

How Do You Find a Great, Affordable Tax Preparer?

Are you looking for a good tax preparer or do you want to prepare your own tax return?  Maybe you have concerns about your income or your expenses.  A professional tax preparer can help answer your questions and file on your behalf but how do you find a good preparer?  The IRS offers guidance on…

Read More

Tuesday Tax Tips

Did you know the IRS issued more than 111.8 million refunds, averaging over $2800 each,  for the 2018 tax year?   There are still ways you can boost your 2019 tax year refund.  Boost Retirement contributions.  You can contribute to an IRS until the April 15 tax deadline and it will still count toward the 2019…

Read More

Still Need Tax Answers?

If you got stuck on hold on the IRS tax help line…there’s still help.  President’s Day weekend is the busiest rush on IRS phones, and not everyone can get through to get the answers they need.  There is good news. IRS.gov is now offering tax tools online, so you get the answers you need when…

Read More

What Your Tax Preparer Needs to Calculate Your Business Taxes

If you love to hate taxes, maybe it will help to think about it this way:  Taxes impact all of us and fund our community structure.  Without taxes, we could not fund our roadways, our government, nor services like firefighters and police.  No roads means no product delivery and no customers. No police means security…

Read More