When you’re navigating the world of small business, there are many challenges to overcome and many rules to follow. The labyrinth of tax regulations can seem particularly daunting, but there’s one thing that’s crystal clear: tax evasion is a dangerous path that should never be taken. What is Tax Evasion? Tax evasion refers to the …
The Serious Implications of Tax Evasion for Small Businesses Read More »
How did you feel this year when you filed taxes? Stressed? Unprepared? As we dive into the halfway mark of the year, it’s the perfect time to reassess your financial situation and plan ahead for tax season. With June tax planning, you can take proactive steps to optimize your tax position, minimize liabilities, and maximize …
Get Ahead of the Tax Game: Top Tips for Mid-Year Read More »
The SALT (State and Local Taxes) deduction is a tax provision that allows taxpayers to deduct certain state and local taxes on their federal income tax returns. These taxes include state and local income, sales, and property taxes. The SALT deduction has been in place for many years, but its availability and limitations have been …
Maximize Your Savings: Unleash the Power of SALT Deductions Read More »
Do you know your filing deadlines for this year? Filing late if you owe tax payments can result in significant penalties that quickly add up. It’s important to note that if the deadline falls on a weekend or a holiday, the due date is usually extended to the next business day. This year, April 15 …
Unusual Tax Filing Deadline Dates for 2022 Returns Read More »
How do you determine if you’re eligible to claim a home office deduction? If you’re self-employed and use part of your home exclusively for business use, you may qualify for the IRS Home Office Tax Deduction for 2022. You must meet these requirements to qualify: There are two methods to choose from when calculating your …
Are You Qualified to Claim a Home Office Deduction? Read More »
