How meals and entertainment expenses will be taxed in 2018?

The Tax Cuts and Jobs act has newer rules for deducting business meals and entertainment expenses. According to prior 2017 tax law, most meals and entertainment expenses were 50% deductible for tax purposes. We have received many questions about how meals and entertainment expenses will be taxed and impact on your businesses. In general, mostRead more about How meals and entertainment expenses will be taxed in 2018?[…]

25 Mar

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Where is my tax refund?

Where is my tax refund? You can get information about your refund within 72 hours after an acknowledgment has been sent by the IRS to you. Most refunds are processed within 21 days. Filing online & electronically is the fastest way to receive status on your tax refunds. You will require the following informationRead more about Where is my tax refund?[…]

04 Mar

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Happy to receive a big tax refund, think again…

Happy and excited to receive a big tax refund check, think again… That’s because receiving a big tax refund is actually a bad thing… A big tax refund indicates you are paying too much in taxes…. The # 1 mistake which most taxpayers make is overpaying taxes. A big tax refund signals unplannedRead more about Happy to receive a big tax refund, think again…[…]

18 Feb

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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)[…]

17 Feb

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Who can you claim as a dependent on your tax return?

Who can you claim as a dependent on your tax return? This is the most important question on every taxpayer’s mind at the time of tax filing. So, below are few basic rules for adding dependents on your tax returns : There are 2 types of dependents who may be claimed on your taxRead more about Who can you claim as a dependent on your tax return?[…]

21 Jan

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Ten questions to ask when choosing a tax preparer

Ten questions to ask when choosing a tax preparer It’s the time of the year when many of you are searching for a tax professional to help file your taxes. It is extremely important to choose your tax professional wisely. As a taxpayer, you are responsible for all the information on the taxRead more about Ten questions to ask when choosing a tax preparer[…]