New 62.5 Cents Mileage Rate

Health Savings Accounts: The Ultimate Retirement Account

At any time during 2021, did you receive, sell, exchange, or otherwise dispose of any financial interest in any virtual currency?

Will the Inflation Reduction Act Affect Your Income Taxes?

Working from home has become much more commonplace in recent years. Does your home office qualify for a tax deduction?

If you have a home that you both rent out and use personally, you have a tax code-defined vacation home.

With a little knowledge, you may be able to turn those “commuting” miles into deductible Business Miles.

Not sure of the best way to track your business miles? Consider this…

Watch this short video to learn why real estate investors should consider issuing 1099s each year to their vendors.

The Client Portal, powered by Canopy Tax, provides a secure data-sharing environment to each of our clients. Access to your Client Portal is restricted to only those you wish to add and our Firm staff.

Small business entrepreneurs juggle a lot each day. So much energy is expended setting up operations, finding clients, managing those new clients, marketing, networking, actually doing the work, etc.…what small business owner has time to keep up with the bookkeeping?!

You, like many other small business owners, might be asking yourself, “Why in the world would I pay someone to manage my books when I can just do it myself?”

So you’re starting – or thinking about starting – a new business venture. Maybe you have an amazing business idea, but you’re not sure how to put it on paper. Here’s a quick look at a few of the most common business entity structures that small business owners select.

We are often asked about LLCs. Usually, the question sounds like “Would I pay fewer taxes if my small business were an LLC?” or something along those lines.

The hugely popular federal Payroll Protection Program (PPP) loan program that paid forgivable loans to millions of businesses ended on August 8 (although it could come back in revised form). However, you can still obtain a low-interest Emergency Income Disaster Loan (EIDL) of up to $150,000 from the Small Business Administration (SBA).

As you probably know, establishing a home office for a Schedule C or corporate business creates valuable tax deductions. But this deduction is not exclusive to sole-proprietorship, partnership, or corporate businesses. If you have rental properties, you can establish a home office to manage your rental properties and deduct the cost on your Schedule E.

As you read this, it’s likely that your lawmakers are working on the next Payroll Protection Program (PPP) package. And hopefully, in this next package, they will include a provision that allows you to deduct business expenses that you pay with your PPP money. Yes, you read that correctly…

The COVID-19 pandemic has upended all aspects of life around the world, including the world of business here in the U.S. If your business is struggling, you may be able to get some help from the federal Small Business Administration (SBA), which is authorized to provide loans to small businesses on an as-needed basis.

Bitcoin and other Cryptocurrencies are considered property in the eyes of the IRS. This means that anytime Cryptocurrency is sold or exchanged, the seller is going to have either a gain or a loss…

On Friday, December 22, 2017, President Donald Trump signed into law what is commonly referred to as the Tax Cuts and Jobs Act of 2017. This historic piece of legislation was the largest overhaul of the Internal Revenue Code since the Tax Reform Act of 1986 signed by then President Ronald Reagan.