How to report your new address to the IRS and others
How to report your new address to the IRS and others to make sure you receive your annual tax documents.
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2019 Mileage Rates Updated by IRS
Well, it took them longer than usual but the IRS has updated the rates used to calculate your mileage deductions. As a reminder, there are different rates depending on what type of driving you are doing. The business mileage rate is applicable for business purposes. This would be for activities such as your sole proprietorship
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Is it time to harvest your tax losses?
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 »
Black Friday Shopping Tips
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
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We made it through the last tax deadline for calendar 2017!
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
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Most business meals are still deductible, subject to the 50% limitation
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
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Extended Corporate & Individual Tax Returns Due October 15, 2018
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,
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The business owner’s October checklist
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.
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Do you have a small business or a hobby?
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 »
Estimated Taxes and the Paycheck Checkup
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.
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