If you own a small business, consider the following strategies to minimize your tax bill for 2020. Net Operating Losses (NOLs). The CARES Act relaxed many NOL limitations that were […]
Here are some planning strategies that may lower your individual income tax bill for 2020. Take Advantage of Generous Standard Deduction Allowances. If your annual deductions will be close to […]
Lending to friends and relatives is a tricky business, and not only because of the stress it can place on your relationships. There are tax issues involved as well. If […]
If you are like millions of taxpayers in the service industry, you may receive tips. The tax code is clear; if you receive tips you must report them as income. […]
With the increased popularity of lotteries and casinos, more unsuspecting winners are experiencing a lucky payday only to end up with a huge tax head-ache when filing their income taxes. […]
Wouldn’t it be nice to have a source of nontaxable income? You may be more fortunate than you realize. Listed here are a number of income items that the IRS […]
Creating order out of chaos As important tax records start filling mailboxes, how can you make sure your tax preparation goes smoothly and efficiently this year? Here are some tips: […]
A great tip to stay out of the audit spotlight. One of the best audit tips available can be summed up in one simple word. Match. Spend a minute or […]
What recordkeeping should your business be doing, and how long should you keep records? There are several categories of records that are important to a business. Some for internal purposes […]
With the proliferation of cell phones, and the corresponding accessibility of you to your employer, most employees are receiving and making business calls on cell phones. So, how can you […]
