Blog
Tax Deductible Business Expenses- Which ones can I write-off
Tax Deductible Business Expenses- Which ones can I write-off? We have the best instructors in the tax world. Check out this awesome post by one of our best - Mark Kohler. For more info check out Mark's latest update on deductions here. From Mark Kohler, Recently, I’ve had a lot of...
The IRS Begins to Modernize Its Processes
For decades, taxpayers and tax preparers alike have joked that the acronym for the Internal Revenue Service actually stands for “Is Really Slow.” But the IRS is looking to change both this long-held perception and the reality—that many taxpayers seeking advice or disputing an assessment will wait on hold for an...
Maximize the Tax Benefits of Renting Out Your Home
Taxpayers who live in a popular tourist destination or who are planning to be out of town for an extended period can enjoy both a steady rental income and tax benefits by renting out their home. Although there have always been some tax breaks available for rental owners, the Tax Cuts and Jobs Act (TCJA) has only...
IRS Reminds Small Business Owners About Their Tax Breaks
In honor of National Small Business Week, celebrated from May 5 through 11 this year, the Internal Revenue Service issued a press release highlighting the many tax benefits available to small business owners and investors. While some of these credits, deductions, and offsets have been available to small businesses...
Tax Cuts and Jobs Acts Drafting Error Slows Business Remodeling Plans
The effects of the sweeping changes enacted by 2017's Tax Cuts and Jobs Act (TCJA) were only recently illuminated during the 2018 tax season. And while many individual and corporate taxpayers were pleasantly surprised by a reduction in their total tax liability, others—especially those in the restaurant and grocery...