Financial Planning In Your 20's


Graduating from college typically happens during your early twenties. In order to ensure that the future continues to remain bright and full of opportunity, it's essential for twenty-somethings to start planning for their financial well-being. Here are three tips that you can use as you prepare to graduate from college to ensure that you are prepared to face whatever financial obstacles may come your way in the future. 1. Continue living below your means.

20 December 2016

Three Ways Individuals With Home Based Businesses Can Save On Their Taxes


If you own your own business and work out of your home, it is easy to overlook valuable tax deductions. Deductions reduce your taxable income so that you have a lower income tax obligation. Check out a few ways you can reduce your tax payment. 1. Take Advantage of Your Home Office When tax time comes, it literally pays to have a dedicated space in your home for your home office.

8 November 2016

Deducting Meals As A Business Expense On A Personal Income Tax Return


Tax filers who travel for business purposes usually spend more money on meals when traveling than they normally spend on food. Employees and self-employed persons may deduct a portion of the cost of meals bought when traveling away from home on business. Before calculating the total cost of business meals, its important to make note of the fact that for most employees, the deduction itself is only 50 percent of the total expense.

29 September 2016

3 Reasons to Utilize a Tax-Preparation Service


One of the most important services that you can take advantage of when tax season rolls around is a tax-preparation service, mostly because of the many different ways in which they can help you. Listed below are just a few of the reasons to utilize a tax-preparation service. Maximize Return The most important reason to utilize a tax-preparation service is that it can help to greatly increase your tax return. The reason for this is that the preparation service will be more able to accurately determine if you are qualified for various tax breaks.

19 August 2016

3 Key Benefits Of Having IRS Representation Services Through Your Accountant


Hiring a bookkeeping company to handle your small business's books and tax preparation does not only offer the benefit of keeping your financial information organized and accurate, but it may also come with IRS representation services. IRS representation is vital for any type or size of company, and here are some of the reasons why this service is something you should have. Your accountant can be held responsible for the work

13 July 2016

Two Reasons Why You Should Let A Professional Complete Your Taxes


Due to the advances of the virtual age, it can be easy to think that you're capable of completing your taxes online.  There are a number of websites which boast to that all you'll have to do is input a few pieces of data in order to file your taxes.  However, there is simply no substitute for having a professional complete your taxes for you, and choosing to overlook their expertise could prove detrimental.

24 February 2016

3 Tax Tips For Your Small Business


Filing taxes for your small business can cause a lot of headaches if you don't have a background in accounting. If you have no real experience with keeping good financial records and do not have a strong mathematical background, it can cost you a lot of money if the government decides to audit your business. Sitting down with a professional accountant is the best way to get your financial affairs in order and get you the maximum return on your taxes.

29 January 2016

3 Ways To Reduce The Chance Your Returns Get Audited This Year


If you want to reduce the chance that your tax return will get audited this year and reviewed by the IRS with a fine tooth comb, make sure that you are not doing anything that will raise the suspicion of the IRS. Here are a few things you need to avoid on your tax returns this year so that they go through without a second glance.  Be Careful About What You Claim As A Business

21 January 2016

Filing An Income Tax Return As A Qualifying Widow Or Widower


There are only a few tax filing statuses, and each is subject to a separate tax rate. A widow or widower with a child may be able to continue receiving some of the tax benefits of marriage by filing as a qualifying widow or widower. Married individuals filing jointly generally receive the lowest income tax rates. A transitional filing status with the same low tax rate is available to certain widows and widowers.

7 January 2016