An unexpected casualty can wreak havoc emotionally and financially. An itemized tax deduction may help ease the financial burden if your home, vehicle, or other personal property has been damaged or destroyed by an unforeseen disaster. Typically, you claim a casualty...
As your business grows, you may want to consider the benefits of incorporating. Many start a new venture with no thought about the legal structure for their business. The IRS considers “sole proprietor” to be the default structure in which your business profits are...
As we progress through 2017, be aware of major changes to the IRS Collection Policy. According to accountingtoday.com “During the past five years, new laws and IRS administrative changes to collection policy have been frequent, and can be hard for taxpayers and...
Are you anticipating a big refund this year? Since getting a large refund actually costs you money, you may want to do some tax planning each year in order to minimize the amount you get back. If you are among the millions of taxpayers who receive a refund each year...
It’s not a trick question, there is a difference between your tax bracket and your tax rate. Your tax rate indicates your tax liability in relation to your total income but for planning purposes, you will also want to be aware of your tax bracket. As an...
There are State and Local Government economic incentives that are often missed by growing new businesses because they do not apply early enough. Or companies think their project was not large enough or important enough to warrant said incentives. There are specific...