Posts Tagged ‘Tax Planning’
IRS Announces Jan. 27 Start to 2025 Tax Filing Season
The 2025 tax filing season starts on Monday, Jan. 27, 2025 for Form 1040 filers, and will feature expanded and enhanced tools to help taxpayers as a result of the agency’s historic modernization efforts. These improvements include: Expanding Direct File to 25 states. More in-person help. High levels of service on main taxpayer phone lines.…
Read MoreTax Breaks To Suggest to Rental Property Owners
Rental properties are an excellent and ongoing investment but are even better when the owner of the property understands the number of tax credits and other breaks they can apply for. Let your rental property clients know about the following ways to increase their return on investment. If they’ve borrowed money from you this is…
Read MoreWhat to Expect When Prepping Your Businesses Taxes
Prepping your small business taxes is never fun. The first time you try to do it, the experience can also be overwhelming. If you thought filing personal taxes was challenging, you’re sure not going to enjoy the mess of forms and other documents awaiting you. It doesn’t have to be an unmitigated nightmare. By keeping…
Read More2024 Tax Planning: A Guide For CPAs, CFOs, & Business Owners
Tax year planning for state and local taxes is a critical aspect of financial management for individuals and businesses alike. By mastering the complexities of state and local tax regulations, CPAs, CFOs, and business owners can optimize their tax strategies and minimize their tax liabilities. When it comes to tax year planning, there are several…
Read MoreDoes Your Business Need a Tax Attorney?
In today’s complex business environment, tax regulations can be a scary prospect for any enterprise. It doesn’t matter whether you’re a startup or a well-established organization. With the complexity of tax codes it’s no wonder many businesses seek professional assistance like tax attorneys. The question is, what do they do and does your business need…
Read MoreStartup 101: The Importance of Tax Planning
Whether you are a sole proprietor, or own a small business, tax planning can and will save you time, money, and many headaches leading up to the deadline. Sound tax planning ensures that all deductions can be properly made, all credits can be claimed, and ultimately substantial amounts of money can be kept in the…
Read MoreFile or Extend: A Complete List of 2020 Tax Deadlines
Understanding your tax requirements as a small business owner or individual is tricky and challenging at the best of times. There are so many moving pieces and requirements – all due on different days – that it can be hard to keep it all straight! However, there are few things more important for the long-term…
Read More9 Top Tax-Saving Strategies for Your Business
As a business owner, you know first-hand that taxes can take a big chunk out of your pocket. No matter how small your business is or how large you grow, you’ll always be on the hook for some kind of taxes. However, the tax code is such that there is always room for strategic tax…
Read MoreHow Cutting SALT Deductions Affects Your Taxes
As part of the new Tax Cuts and Jobs Act, Congress placed a $10,000 limit on deductions for state and local taxes, commonly called SALT. If you typically pay less SALT than that, then no problem, right? Many taxpayers in states with high income taxes, though, don’t see it that way. They feel the regulation…
Read MoreTax Planning for Pass-Through Business Entities After Tax Reform
Tax planning under the TCJA for pass through entities is a post for small business owners everywhere paying US income taxes. Now that the Tax Cuts and Jobs Act (TCJA) is in full swing, many of you have been clamoring for tax planning strategies. This post addresses some essential aspects of the Act and suggest some strategic…
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