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Six Things To Know Before You Start a Business

Posted on October 8th, 2021
Six Things To Know Before You Start a Business

Starting your own business is an exciting prospect, but there is more to it than simply writing a business plan. Understanding the tax responsibilities of starting a business venture can save taxpayers money and help set them up for success. That’s where a tax professional can help. Here is what you need to know before… Read More »


How to Track Inventory in Quickbooks

Posted on September 21st, 2021
How to Track Inventory in Quickbooks

If your company sells physical products, you know how important it is to always be aware of your stock levels. You have to know what’s selling and what’s not, and you need to get a head start on ordering new inventory when yours is running low. The tricky part is always having enough available to… Read More »


What Is a Designated Roth Account?

Posted on September 17th, 2021
What Is a Designated Roth Account?

Many 401(k) plans allow taxpayers to make Roth contributions as long as the plan has a designated Roth account. Your plan may also allow you to transfer amounts to the designated Roth account in the plan or borrow money.   Check with your employer to find out if your 401(k), 403(b) or 457 governmental plan… Read More »


Tax Relief for Those Affected by Natural Disasters

Posted on September 13th, 2021
Tax Relief for Those Affected by Natural Disasters

Recovery efforts after natural disasters can be costly. With floods, tornadoes, hurricanes, earthquakes, and other natural disasters affecting so many people throughout the U.S. this year, many have been left wondering how they’re going to pay for the cleanup or when their businesses will be able to reopen. The good news is that there is… Read More »


Keeping Good Tax Records Is Essential

Posted on August 26th, 2021
Keeping Good Tax Records Is Essential

An important part of tax planning is keeping good records. Having an organized recordkeeping system makes it easier to file a tax return or understand a letter from the IRS. Here are some tips: Good Recordkeeping Helps Taxpayers: Identify sources of income. Taxpayers may receive money or property from a variety of sources. The records can… Read More »


Which Educator Expenses Are Tax Deductible?

Posted on August 26th, 2021
Which Educator Expenses Are Tax Deductible?

Teachers and other educators should remember that they can deduct certain unreimbursed expenses such as classroom supplies, training, and travel – even when schools switched to hybrid or remote learning models during the pandemic last spring. Deducting these expenses helps reduce the amount of tax owed when filing a tax return. To qualify for the… Read More »


Know Where You Stand: Use Quickbooks Reports

Posted on August 19th, 2021
Know Where You Stand: Use Quickbooks Reports

If you’re currently using QuickBooks, you know how it’s transformed your daily bookkeeping practices. You can create sales forms like invoices quickly and find them when you need them. Your customer and vendor records are organized and stored neatly for fast retrieval. You can accept online payments, track your inventory, and record your billable time.… Read More »


Key Tax Changes Could Affect Your Tax Situation in 2021

Posted on August 13th, 2021
Key Tax Changes Could Affect Your Tax Situation in 2021

Key tax provisions in the American Rescue Plan Act of 2021 could affect your tax situation. Here’s what you need to know: Child and Dependent Care Credit Increased for 2021 Only The new tax law affected taxpayers in several ways. First, it increased the dollar amount of the credit and the amount of eligible expenses… Read More »


Opting Out of the Monthly Child Tax Credit Payment

Posted on August 5th, 2021
Opting Out of the Monthly Child Tax Credit Payment

Thanks to the advance payments of the Child Tax Credit, approximately 60 million children received $15 billion in July, according to the Department of Treasury and the IRS. While many of these families will benefit from the extra money deposited into their bank accounts, some families may want to opt-out and instead take the credit… Read More »


Six Steps to Protect Against Taxpayer ID Theft

Posted on July 29th, 2021
Six Steps to Protect Against Taxpayer ID Theft

Tax-related identity theft occurs when someone uses a taxpayer’s stolen personal information, such as a Social Security number, to file a tax return claiming a false refund. Thieves are actively working to steal taxpayer information and identities, and everyone should do everything they can to prevent identity theft. Here are six ways to help taxpayers… Read More »


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