by LittleOwlCPA Admin | May 13, 2022 | Individual Tax
Do you give money to your church? Do you get a tax benefit from those donations? How about your donations to other charities? Recent changes in the tax code have done much to destroy your benefits from church and other tax-deductible 501(c)(3) donations. But there’s a...
by LittleOwlCPA Admin | Apr 29, 2022 | Individual Tax
For parents and students trying to manage college bills and student loan payments, the federal government offers education-related tax benefits. The requirements for each are different, so here’s what you need to know. American Opportunity credit The...
by LittleOwlCPA Admin | Apr 15, 2022 | Individual Tax
Tax Day 2022 is Monday, April 18, 2022 for most individual taxpayers. Some taxpayers in certain natural disaster areas are allotted more time to file depending on the disaster. Tax Return Extension An extension of time to file a Federal individual return is...
by LittleOwlCPA Admin | Apr 1, 2022 | Small Business
When developing a succession plan for your business, you must make many decisions. Should you sell your business or give it away? Should you structure your plan to go into effect during your lifetime or at your death? Should you transfer your ownership interest to...
by LittleOwlCPA Admin | Mar 18, 2022 | Small Business
New business owners, especially those operating small businesses, may be helped by a tax provision allowing them to deduct up to $5,000 of the start-up expenses and $5,000 of organizational costs in the first year of the business’s operation. These type of expenses...
