Business owners know that financial planning is a vital part of running any company. Financial decisions should never be made without careful thought and consideration. And yet, far too many business owners completely neglect the importance of tax planning. Professional tax planning should be a...
Deductions are an important factor when filing your tax return, and can significantly alter the amount you owe; in some cases, deductions can even offer you a refund, when you might otherwise have been making a payment to the IRS! This year is the first...
If you are an owner or partner in a business, filing your tax return is significantly more complex than it is for individuals filing only a personal return with W-2 earnings. There are numerous additional laws, deductions, and considerations that you must keep in mind...
If you owe the IRS for past-due taxes, you’re familiar with just how stressful the situation can be. The IRS can be quite persistent in their collection efforts, and they do not take failure to pay lightly. Plus, the longer you go without settling the...
High medical bills put a strain on many people’s finances, but the IRS offers some relief through a medical expenses tax deduction. If you’ve had unexpected medical expenses, or your or your dependent has a medical condition that requires expensive medical care, you might qualify...
Many people don’t begin looking around for an accountant until January rolls around and it’s time to file taxes. While you definitely need an accountant on your side for this time of year, accountants come in handy at other times of the year as well—not...
If you use a tax preparer to file your tax return for you, you give them a lot of delicate information. They know all about your finances, your marital status, your contact information, and they even have your Social Security number. So wouldn’t you want...
Whether you are yourself a student or you are paying the education costs of a spouse or child, paying for a post-secondary education can be expensive. However, the government offers two different tax credits for college students to help reduce some of the financial burden....
With so much that goes into planning a wedding, it’s not often that engaged couples take a moment to think about how their impending nuptials will impact their taxes. And while it’s far from the most important thing on your list, it is a good...
Last week, we talked about protecting your personal and financial data online. In a digital world, it is most often digital information that is stolen. However, it is still possible to have your financial information or even your identity stolen through other means. Here are...
