Many people dread filing their taxes, because they’re afraid of how much they’re going to owe. Oftentimes, this expense, added on top of your regular bills, can stretch an individual or a family to their financial limits. What if you really can’t afford to pay...
The tax deadline is fast approaching, but if you’re not yet ready to file, don’t let it cause you any undue stress. Filing a tax extension is a relatively simple process. However, there are a few things you need to know about the extension filing...
Filing a business return requires you to track every expense in order to get the maximum benefit on your return. And while keeping a spreadsheet or tracking those expenses in QuickBooks is highly recommended, this data must be accompanied by an accurate paper trail if...
Tax season is a busy time for accountants, but we’re not the only ones who are often working overtime at this time of year. Scammers and identity thieves often put in a lot of extra effort during tax season, attempting to get ahold or your...
The work you do for your business is not always done in the office. In fact, a great deal of the work you do will be in other locations as you network with other business owners, visit customers’ offices, and meet with suppliers. The miles...
Charitable contributions are a major part of most of our clients’ taxes here at The Accounting Guys. Many people seem to think that any donation given to any person or organization can be listed on your tax return. And while any donation is certainly a...
Small businesses can fall under many different designations, each with its own set of laws, regulations, and tax liabilities. While the designation you choose for your small business may depend on a number of factors, at The Accounting Guys, we often recommend that small-business owners...
Qualifying deductions for your business expenses are changing for 2018 and future tax years. Do you know what entertainment expenses are still deductible? This blog will address the meals and entertainment expense for business tax deductions, explaining the changes between 2017 and 2018 tax returns....
Your business’s growth often depends on ongoing research and development—for product improvements, new products or services, correction of any issues with products, and so on. This type of research is essential to many companies, and it comes at an expense. But too few small-business owners...
With the recent Republican tax act being signed into law, there will be some dramatic changes to tax laws and tax brackets going into effect this year. Do you know what bracket you will fall in, and what your new tax rate will be? This...
