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2024 Tax Season Checklist
Social security numbers Bank account numbers Dates of birth Last year’s tax return W-2 forms IRA/Pension distributions (1099-R) Social Security benefits (SSA-1099) Contract work (1099-NEC) Interest income (1099-INT) Dividend Income (1099-DIV) Business income Rental...
Tax Dependents: Can You Claim Your Loved One?
Each year, many individual taxpayers are shocked at who can be claimed as a dependent – as well as who can’t. In other words, tax dependents are not just young kids! In 2023, there are more incentives for claiming dependents, especially while paying for their medical...
Filing Accelerated Depreciation: A Quick Guide
Our tax experts have gathered top tips for bonus depreciation, vehicle limits, special bonus depreciation allowance, and depreciable business purchases. Accelerated depreciation methods, including Section 179 expensing and bonus depreciation, offer valuable tax-saving...
Charitable Giving Strategies
Charitable giving allows you to make a positive impact on causes you care about and can also provide tax benefits. By implementing effective charitable giving strategies, you can optimize your donations and potentially reduce your tax liability. In this tax guide, we...
2023 Year-End Tax Planning Strategies
As the end of the year approaches, it's an opportune time to review your financial situation and implement tax planning strategies to minimize your tax liability. By taking proactive steps, you can maximize your tax savings and potentially optimize your overall...
S-Corporation Payroll: Understanding the Importance of Reasonable Compensation for Officers
As a small business owner running an S-Corporation, you may be familiar with the unique tax advantages this entity structure offers. S-Corporations provide pass-through taxation, allowing profits and losses to be passed directly to shareholders, avoiding double...