New IRS Filing Deadlines for Partnerships and C Corporations in 2017

The tax-filing deadlines for small business owners have traditionally remained the same for many years. More specifically, March 15 has been a longstanding date on the calendar for entrepreneurs who operate formal business entities across all fields. However, if you haven’t heard, the IRS has changed a few key due dates for certain business income…

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3 Vital Multi-State Tax Facts for SaaS Companies

Last week, we discussed various multi-state tax issues software companies often overlook. This week we look at another industry that often misses sales and use tax ramifications on their sales: Software-as-a-Service (SaaS). Many think that because it’s not a tangible product or even clearly defined as a service (at least according to traditional definitions), these companies…

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Don’t Make These 4 Common Tax Mistakes

As a business owner, one time of the year that you might not look forward to is tax time. After all, not only do you probably not want to have to pay in any taxes, but you might be a bit stressed out about the whole process of filling out and filing your tax forms.…

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Should I Use Form 1040, Form 1040A, or Form 1040EZ?

When you file a personal income tax return with the IRS by April 15, you have a choice of 3 basic tax forms to select from that are essentially designed to report similar tax and financial information. These personal income tax returns include: Form 1040 Form 1040A Form 1040EZ While they have similar intentions, each…

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Valuation of Your Business for Tax Planning

Few business owners relish spending money on something they don’t need. And for most owners, hiring an expert to estimate the value of their companies falls into that don’t-need category. So it is no surprise that owners typically respond to an exit planning advisor’s recommendation to get an estimate of value for the company with…

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3 Important Multi-State Tax Facts Companies Need to Know

What do software companies need to know about when it comes to multi-state tax issues? Last year we shared an overview of nuances many in the field don’t think about, but need to consider when it comes to their organization. As a large portion of the technology industry, it is important that software companies are…

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2017 Tax Law Changes That Could Affect You

After “Auld Lang Syne” plays to usher in a new calendar year, you can always bet on the government and the Internal Revenue Service making changes and adjustments to tax laws from the previous year. Some years see lots of changes, while others only endure minor adjustments to the federal tax code. Below is an…

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Standard Mileage Rate Falls Again for Tax Year 2017

Self-employed professionals who use a vehicle for business trips were likely not thrilled when the standard mileage rate on deducting business mileage plummeted from 57.5 cents per mile in 2015 to 54 cents per mile in 2016. While the rate for 2017 is not dropping as much, it is still lower than the 2016 rate…

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A Lowdown on the 2017 Tax Season

The Internal Revenue Service has officially announced when the opening bell for the 2017 tax season will ring, signaling the start of when the federal tax collection agency will begin processing federal income tax returns. There are also some other important changes of note. So, here is our preview of the 2017 tax season with…

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6 Tax Moves to Make Before the End of the Year

As the hectic holiday season approaches, most people are wondering how they’ll be able to save on holiday shopping rather than what they can do to save on taxes. So, let’s explore some tax moves you should consider making before the calendar turns to 2017 to help you reduce your tax bill from Uncle Sam.…

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