Tax/Accounting

People start a business for all kinds of different reasons. Some people do it because they are fulfilling a lifelong passion to create a new product or service. Others see a new business as a getaway from the grit and grind of corporate America to become their own boss. Still more see a business as…

With both the Republican and Democratic debates heating up now, it is probably a good time to attempt to separate fact from fiction when it comes to the future plans of the nominees on how they will change the tax code. With our national debt soaring to 19 trillion dollars, it is certain we will…

Nobody wants to be audited. But about 1 in 150 of us will experience some type of audit in our lifetime. That’s the bad news. The good news is that if you avoid these six potential red flags, you may be able reduce your chances of getting the dreaded audit notice in the future. 1.…

In the flurry of tax changes that happened for 2016, one of the most overlooked deductions by small business owners is the Section 179 tax deduction. This deduction was set up to allow business owners to deduct many different types of equipment used for their business. In fact, there were certain loopholes within this tax…

Tax season is upon us and you might be asking what can you still do that can potentially reduce your overall tax liability. Here are 5 BIG overlooked tax deductions that people often don’t ask about or overlook come tax time. 1. Charitable Mileage Most taxpayers are very good at keeping receipts of their cash…

During tax time, we often get questions from employees and business owners on how much of their auto mileage they can deduct on their tax return. This is one of the biggest questions where a slippery slope can occur without approaching this topic in the right manner. For most people including business owners, their automobile…