by LittleOwlCPA Admin | Mar 24, 2023 | Family, Individual Tax, Tax Planning
As the 2023 tax season is upon, it’s important to be aware of the various tax credits that may be available to individual taxpayers. Tax credits are valuable, as they can directly reduce the amount of taxes owed, dollar-for-dollar. Here are a few tax...
by LittleOwlCPA Admin | Mar 17, 2023 | Individual Tax, News, Small Business
The Secure 2.0 Act of 2022 was signed into law on December 29, 2022. The act is a continuation of the SECURE Act of 2019. The new law addresses retirement provisions and is designed to help taxpayers save more for retirement. Updates to Required Minimum...
by LittleOwlCPA Admin | Mar 10, 2023 | Individual Tax, Tax Planning
Over the last few years, investing in virtual currencies (“cryptocurrency” or “crypto”) has become very popular. The IRS defines a virtual currency as a form of property and refers to virtual currency as a medium of exchange. There are various types of transactions...
by LittleOwlCPA Admin | Feb 17, 2023 | Individual Tax, Small Business, Tax Planning
As a small business owner, you may be eligible to claim the home office deduction on your tax return. This deduction allows you to claim a portion of your home expenses as a business expense, which can lower your taxable income and save you money on your taxes. ...
by LittleOwlCPA Admin | Feb 10, 2023 | Individual Tax, Small Business
Tax season is here! It’s important to start preparing now and to know your deadlines to ensure a smooth and stress-free filing process in the months ahead. Know Your Deadlines It’s important to be aware of the various tax deadlines that apply to you...
