Most small biz owners don’t have backgrounds in finance. However, that doesn’t mean they can afford to avoid the administrative tasks that come with running a company. We face massive variation in the cost of goods and services. A $100 million agency that sends $90 million out the door on projects can’t afford to pay $15 million in salaries. Rent, … Read More
Flower Mound Tax Help: What To Do With Your Refund
Refund season is here! Last year, nearly eight out of 10 people received a tax refund worth an average of $2,895, according to the IRS. If that average holds up this year, many taxpayers will once again get a nice check from Uncle Sam. CPA experts have some advice on how to spend your tax refund: 1: Start an emergency … Read More
Flower Mound Accounting: Last Minute Tax Tips
In case you weren’t aware, this year’s tax filing deadline is rapidly approaching. You have until April 17 to submit your 2017 return. If you’ve been procrastinating, it’s time to get moving. Here are some tips to help from experienced pros: 1. Decide whether you’ll be itemizing Though itemizing on a tax return is more involved than claiming the standard deduction, it … Read More
Dallas Tax Preparation: File Taxes Without A Hitch
With tax penalties in place that could be as much as 5% a month, filing your taxes late as a business owner can be costly. To make sure you meet the tax deadline this year and every year going forward, you need to stay organized and spend the time it takes to get your tax documents in order early on. This will … Read More
75028 CPAs: How To Stretch a Tax Refund
While it can be tempting to splurge money on something, saving some of it could be a smarter move over the long run. Here some ways that taxpayers with a household income of less than $75,000 can put that refund to good use. 1. Build up your rainy day fund Experts recommend having at least six months’ worth of savings … Read More
DFW CPA: Lower Taxes For Small Business
Minimizing taxes may be the difference between a profitable business and one that is just getting by. You all are probably thinking: “I don’t have extra time do deal with taxes.” Here are seven ways you can tame the stress of small business taxes and hopefully put a little (or a lot) more money back in your pockets. 1. Tax Software Is … Read More
Tax Preparation Help: Are You Getting All The Tax Breaks You Deserve?
Are you taking all the tax breaks you’re entitled to? CPAs say you might be able to reduce your tax bill by taking advantage of the many exemptions, deductions, and credits built into the tax code. (Tax Preparation Help: Are You Getting All The Tax Breaks You Deserve?) Tax exemptions, deductions, and credits are all things that can reduce how … Read More
Dallas Tax Pro: Tax Scams To Watch For This Year
Tax filing fraud could reach an all-time high this year, as a result of last year’s Equifax data breach. Millions of names, addresses and Social Security numbers may be compromised, and an identity thief armed with your personal information can file a tax return in your name, and collect a refund. But even if your identity wasn’t stolen, you could … Read More
Flower Mound Tax Help: These Tax Breaks Could Be Gone in 2018
If you haven’t filed your 2017 taxes yet, grab your shoebox of receipts and see if you qualify for these deductions. Flower Mound Tax Help: These Tax Breaks Could Be Gone in 2018 By now, you know that the Tax Cuts and Jobs Act has overhauled the tax code, including nearly doubling the standard deduction, doing away with personal exemptions and trimming … Read More
Flower Mound Business Advice: Freelancer Tax Tips
Now that tax season is in full swing, many workers will no doubt be scrambling to get their returns done. That also includes the self-employed. While filing taxes as a salaried employee often means copying down a number from a W-2 and calling it a day, there’s often a whole set of complication tacked on to the process for self-employed individuals. … Read More