December is beginning, which means the year is ending. This also means it’s time to start your year-end tax planning. There are so many subjects that come under the year-end tax planning umbrella that I wanted to break it down into separate pieces. This post will focus on harvesting your losses.
Is it time to harvest your tax losses? Read More »
Well, today’s Thanksgiving and our turkey is in the smoker and our stuffing is in the oven. While we’re getting our dinner ready (it’s an all day affair), we periodically take breaks to skim through the advertisements that were included in the paper today. When you put them all together, they’re bigger than the whole
Black Friday Shopping Tips Read More »
Well, I just realized it’s been a while since I updated my blog. It’s been a crazy 6 weeks so this update is well overdue. Here’s a recap of what’s been going on in my world. To start, the first 15 days of October were really busy around here. Having the corporate tax return deadline
We made it through the last tax deadline for calendar 2017! Read More »
If you’ve been following the tax journals or related social media accounts, you no doubt saw that the Tax Cuts & Jobs Act (“TCJA”) removed the deduction for business related entertainment expenses. There was a lot of concern that the meals portion of “Meals & Entertainment” expenses would also be denied because of some related
Most business meals are still deductible, subject to the 50% limitation Read More »
This is your friendly reminder that the extended due date for most 2017 tax returns is coming up quickly. If you extended your 2017 Form 1120 Corporate Income Tax Return or your 2017 Form 1040 Individual Income Tax Return, the extended deadline is right around the corner. Both of these extended tax returns are due on Monday,
Extended Corporate & Individual Tax Returns Due October 15, 2018 Read More »
I love October. It’s the kick-off to the holiday season, there’s still enough time left in the year to make course corrections in my annual goals, and the world turns burnt orange. Business owners can use this time to evaluate where they are and what more they want to accomplish before the year is over.
The business owner’s October checklist Read More »
A lot of small businesses start out as hobbies. After time and growth, the entrepreneur slowly starts devoting more time to the endeavor and it gradually grows into a full fledged business. These are the success stories that motivate many people to strike out on their own.
Do you have a small business or a hobby? Read More »
The 3rd quarterly estimated tax payment is due on Monday, September 17, 2018.
Use this tax payment in conjunction with the #PaycheckCheckup to check your withholding.
Estimated Taxes and the Paycheck Checkup Read More »
Your personal expenses don’t become business expenses just because it’s paid for out of your business account. I know this seems obvious but I see it all the time so this is your friendly reminder about this subject. It’s currently only my mind this morning because I’m correcting a small partnership’s accounting to remove the owner’s personal expenses.Â
Small business owners & personal expenses Read More »
We finally made it through the long hot summer. For the first time in months there is no 100 degree day in our 10 day forecast. This means some big IRS deadlines are coming up, mostly for extended tax returns.
Major Fall 2018 US Income Tax Deadlines Read More »