by LittleOwlCPA Admin | Mar 31, 2023 | Individual Tax, Tax Planning
As tax season approaches, many individuals and businesses are on the lookout for ways to lower their tax liability. One often-overlooked strategy is to take advantage of hidden tax deductions. These deductions may not be as well-known as others, but they can still...
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 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 Tabitha Regan, CPA | Dec 30, 2022 | Small Business, Tax Planning
Georgia has expanded a few tax credit programs beginning in 2023. Tax credits give you a “dollar for dollar” benefit which means a $1 tax credit is equivalent to paying $1 in Georgia taxes. Review our tax credit guide about the top Georgia tax credits available to...
by LittleOwlCPA Admin | Dec 23, 2022 | Individual Tax, Tax Planning
There are many ways to give to charity. You can make gifts during your lifetime or at your death. You can make gifts outright or use a trust. You can name a charity as a beneficiary in your will, or designate a charity as a beneficiary of your retirement plan or life...
