The best in accounting tips & advice
Discover advice for personal and business taxes. Follow this thread to get a variety of advice from tax professionals, accountants and attorneys. With these tips, you’re bound to save on your next tax return.
In the fast-paced world of digital marketing, every cent counts and it goes against your bottom line. Digital agencies are constantly seeking ways to maximize their profits and minimize their expenses (like most businesses). One area often overlooked where significant savings can be made is in managing taxes effectively. Here are some strategies that digital … Read more
Home remodeling is not just about enhancing your living space; it can also bring significant tax benefits. Understanding these benefits can make your next renovation project even more rewarding. Let’s explore how remodeling your home can provide financial advantages come tax season. Capital Improvements vs. Repairs The key to unlocking tax benefits lies in distinguishing … Read more
Churches, like other non-profit organizations, often host events to foster community, raise funds, or promote their mission. But when tax season rolls around, many church leaders wonder if they can write off the costs of these events. Let’s delve into the intricacies of church-sponsored events and their tax implications. 1. Understanding Church Tax-Exempt Status Most … Read more
Las Vegas, known for its vibrant nightlife and endless entertainment options, has much more to offer than just casinos and shows. In recent years, many individuals and businesses have been attracted to this city due to its considerable tax benefits. Let’s jump into the financial advantages that make Las Vegas an appealing destination for relocation. … Read more
If you are thinking about setting up a donor advised fund (DAF), it’s important to understand the tax implications. While DAFs offer many benefits, there are also some potential drawbacks to consider. Tax Deductions from Charitable Giving The biggest benefit of a DAF is the tax deduction you’ll receive for your charitable contributions. When you … Read more
With it being tax season, many people turn to Quickbooks and TurboTax to complete their personal and/or business taxes. However, questions often arise with these Intuit tools that usually require the assistance of someone in customer support. How to Reach Quickbooks & TurboTax Customer Support There are a few different ways to reach customer support … Read more
As a relatively new industry, many CBD providers have questions about how to account for certain products and how to report those products on year-end taxes. The good news is that the IRS has released specific guidance on how to tax CBD products. What Category Does CBD Fall Under? CBD oil and other CBD products … Read more
It’s somehow already tax season in the United States and based on how taxes were handled by the IRS in 2021, many people are wondering if tax deadlines will be pushed out. The IRS is reportedly making changes to how tax filings will take place this year and has already made several other changes that … Read more
A major part of establishing a business is deciding the right entity. Not only is this a requirement for most business licences and local government, different entities also lend themselves to different tax breaks. Let’s take a look at the 3 different business entities you should be familiar with. Sole Proprietorship Perhaps the most common … Read more