10 Business tax deductions not to miss this tax season (2017 tax year)

10 Business tax deductions not to miss this tax season (2017 tax year)

10 Business tax deductions not to miss this tax season   1)Business Startup expenses – Startup expenses that are up to $5,000 can qualify for a valid business deduction. This can be taken as a business deduction the same year. This covers legal and company formation fees paid in connection with creating/ acquiring another business. If costs exceed $5,000,Read more about 10 Business tax deductions not to miss this tax season (2017 tax year)[…]

What is your  consulting practice worth today?

What is your consulting practice worth today?

What is your consulting practice worth today? Overview of consulting businesses Consulting businesses are knowledge-based businesses.  Today, there are many consulting firms in niche industries eg: healthcare, government, information technology, human resources etc.  Consulting companies are service-based businesses. Therefore, they may be relatively easier to value as compared to other product based businesses. They also have relativelyRead more about What is your consulting practice worth today?[…]

Income tax refunds may get delayed until Mid-February for EITC and Child Tax Credit Returns

Income tax refunds may get delayed until Mid-February for EITC and Child Tax Credit Returns

Income tax refunds may get delayed until Mid-February for EITC and Child Tax Credit Returns   Income tax refunds may be delayed for taxpayers who are claiming Earned Income Tax Credit ( EITC ) and the Additional Child Tax Credit ( ACTC ). By law, IRS cannot issue refunds claiming the Earned income tax creditRead more about Income tax refunds may get delayed until Mid-February for EITC and Child Tax Credit Returns[…]

Here’s what you can do if you do not receive your W2 past February

Here’s what you can do if you do not receive your W2 past February

***The below guidelines are applicable if you have not yet received your original W2 or a corrected W2 has not yet been received by the tax filing deadline.   Most employers would have already mailed out W2 forms to their employees. If your employer is out of business or if you did not receive your W2Read more about Here’s what you can do if you do not receive your W2 past February[…]

Tax forms you should expect to receive by January 31st, 2018

Tax forms you should expect to receive by January 31st, 2018

Stock brokers, lenders and employers will start sending you the tax forms and statements by January 31st. The Internal revenue service (IRS) gives companies time until January 31st to mail out these statements. Many currently send it out electronically instead of postal mail. The following are the mostly common tax forms that you should expectRead more about Tax forms you should expect to receive by January 31st, 2018[…]