Featured Posts
Read our expert tax tips, business best practices and more.
Recent Insights
Business Succession Planning
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...
Writing Off Your Business Start-Up Expenses
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...
Thinking of Selling Your Home?
With near-record-low home mortgage interest rates, the housing market has been booming. September 2020 existing home sales were up 9.4% from August 2020 and 20.9% from 2019, according to the National Association of Realtors. If you sold your home this year or are...
How long should you keep your important documents?
As your paper and electronic documents begin to get overwhelming, you may wonder when you can destroy these items and what you should keep. It is critical to keep some documents while others can be destroyed after just a few years. Generally, you should retain all...
Preparing for Tax Season 2022
The IRS announced that the starting date for when it would accept and process 2021 tax-year returns was Monday, January 24, 2022. Tips for making filing easier To speed refunds and help with tax filing, the IRS suggests the following: Make sure you have...
Maximize Tax Benefits of Charitable Donations
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...