Dealing with taxes is a fact of life for small business owners. Annual expenditures for taxes for most owners are likely their largest outlay each year, exceeding rent or mortgage payments, marketing costs, and vehicle expenses (the only possible larger expenditure is payroll). Beyond payments to the government for all of the taxes you pay—income...Read More

Finding out that you owe taxes can be a bit unnerving, especially if you owe more than what you expected. Don’t worry — it is not the end of the world if you’ve gone through the numbers and you’re left with a tax bill. Here are a few steps to take: Get Ahead of It You...Read More

Tax season is approaching. But for many businesses, managing taxes can be a yearlong undertaking. In fact, there are many different types of deadlines you should be aware of throughout the year. 2019 Tax Calendar Here are the most important tax dates for businesses to know in 2019. 1099 Mailing Deadline, January 31 If your business works...Read More

The Internal Revenue Service (IRS) might have your money. The tax agency has announced that more than $1.4 billion in outstanding refunds remain unclaimed from 2015. Yes, billion. That represents more than one million taxpayers who might have qualified for a refund but who did not file a federal income tax return for 2015. If you are...Read More

It’s my annual “Taxes from A to Z” series! This time, it’s Tax Cuts and Jobs Act (TCJA) style. If you’re wondering whether you can claim home office expenses or whether to deduct a capital loss under the new law, you won’t want to miss a single letter. C is for Credit for the Elderly...Read More

If you’re putting off doing your taxes until we’re closer to April 15, you might want to reconsider.  We have a fresh new Form 1040 to deal with.  Tax changes adopted by the 2017 Tax Cuts and Jobs Act (TCJA) are now in effect (2018 through 2025). Some changes will likely affect you. For one,...Read More

P is for practical. Hotly anticipating your tax refund? Before you splurge on that Jacuzzi you’ve always wanted or pile items into your virtual shopping cart, do yourself a favor: Hit pause, and consider finding a practical use for your money. What’s practical, of course, is relative to your circumstance, but mull over these ways to...Read More

The Internal Revenue Service (IRS) has announced the annual inflation adjustments for more than 60 tax provisions for the year 2019, including tax rate schedules, tax tables and cost-of-living adjustments. These are the numbers for the tax year 2019 beginning January 1, 2019. They are not the numbers and tables that you’ll use to prepare your 2018 tax returns in...Read More

  The best use of your tax refund is in the market. As tax season 2018 nears an end, tax refunds are arriving in millions of mailboxes and bank accounts. Most filers receive their refund within 21 days of filing, according to the IRS, and the average refund, as of March 9, was just over $3,000. “When...Read More

Many consumers want more of their electricity to come from clean energy sour1ces like wind and solar. And many regulated utilities have responded, adding a record number of renewable energy projects to their portfolios, relying, in part, on federal tax credits and advanced technology to reduce the cost of those projects. The recently enacted Tax...Read More