because talking taxes shouldn't be taxing
because talking taxes shouldn't be taxing
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 […]
2019 Mileage Rates Updated by IRS 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 »
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 »
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 »
The start of a new school year is always an optimistic time for me. I remember being excited about the new classes and overly motivated to organize and be prepared. That motivation usually lapsed by October, but you get the drift. Use this initial motivation to get financially organized before you get too busy.
3 Financial Tips & 1 Tax Tip for College Students Read More »
If you need to confirm you have all your tax information, you need to get an IRS Wage & Income Transcript.
What is an IRS Wage and Income Transcript and why you need one? Read More »
The IRS has issued proposed regulations for Section 199A. This is my list of articles covering this new tax deduction for businesses.
Rundown on proposed regulations on Section 199A Deduction issued by the IRS Read More »