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
DFW Tax Prep: Top Ten Tax Tips
Being a small business owner is expensive. Every penny counts when entrepreneurs are living on razor-thin margins. But owning and operating a small business is even more expensive when you pay more taxes than you owe. In a survey personal finance expert Garrett Gunderson conducted of his small business-owner clients, approximately 93 percent of them had overpaid over the past dozen years. … Read More
Tax Errors You Can Avoid This Year
Taxes are hard and stressful enough to do without making avoidable errors. Before clients file, they should double check to make sure they don’t make the following tax errors. We often hand out this checklist to clients to avoid mistakes in advance. Not signing the return (if you file paper copies) Number transposition and spelling errors Unchecked or unanswered questions … Read More
Last Minute Tax Expert Advice To Help This Year
With the tax filing deadline soon, many people are already scrambling to gather their paperwork and get their returns in before it’s too late. Here are some last minute tax expert advice for those of you filing your taxes. This tax expert advice from a certified public accountant can reduce what you owe the IRS and put more cash in … Read More
Tax Preparation Stress Doesn’t Have to Happen Every Year
Are you stressed about your business taxes and looking for a tax consultant? You are not alone. Tax season stress doesn’t have to be an annual occurrence. Here are some of the causes of the stress and the things you can do to cure your tax preparation stress: MONEY = STRESS Money is a major source of stress in people’s … Read More
New Tax Plan Changes
The goal of any tax policy should be pretty simple: raise the required revenue to pay for whatever government actually—minimally—needs to do. And the government should do those things as fairly and neutrally as possible. What do the new tax plan changes propose to do and what kind of trends could happen as a result? The Current Tax System Is … Read More
Why You Should File Early This Year
For an estimated 153 million Americans, January means the beginning of tax season. The official kickoff is Monday, January 23. If reminders about tax time make you want to hit the snooze button until spring, lend your ears. Putting off your taxes can make you a mess come April 18, which is this year’s filing deadline. The IRS encourages early … Read More
Tax Moves to Make Before New Year
As the end of the year gets closer, unfortunately it’s time to think about taxes and make some moves. The tax season may seem far off, but this is the time of year to get the ball rolling. Let’s look at some easy steps to take that could help you in the springtime: Deduct Contributing to charity is a great … Read More
Some IRS Changes for 2017
If you’re a business owner, don’t forget about the date January 31, 2017, the new due date for filing forms W-2. Under a new law, the Protecting Americans from Tax Hikes (PATH) Act, enacted last December, the new filing deadline for employers to submit forms W-2 to the Social Security Administration, is January 31. The new January 31 filing deadline also … Read More
Being a Parent Lowers Your Taxes
If you are a parent, you can lower your tax burden significantly. Eight different tax credits and deductions are out there that can help lower your tax burden: Dependents In most cases, a child can be claimed as a dependent in the year they were born. Be sure as a parent to state if your family size has increased … Read More