News & Updates

How the Sharing Economy affects your Taxes If you've ever used--or provided services for-- Uber, Lyft, Airbnb, Etsy, Rover, or TaskRabbit. then you're a member of the sharing economy and it could affect your taxes. The good news is that if you've only used these...

Filing an Amended Tax Return: What you Need to Know What should you do if you already filed your federal tax return and then discover a mistake? First of all, don't worry. In most cases, all you have to do is file an amended tax return. But before you do that, here is...

Choosing a Legal Entity for your Business If you've decided to start a business, one of the most important decisions you'll need to make is choosing a legal entity. It's a decision that impacts many things--from the amount of taxes you pay to how much paperwork you...

Monday, April 15, 2019, was the tax deadline for most taxpayers to file their tax returns. If you haven't filed a 2018 tax return yet, it's not too late. First, gather any information related to income and deductions for the tax years for which a return is required to...

Tips for Getting Paid on Time Have you found that collecting on your accounts receivables has become more challenging? If so, strengthening your collection procedures may allow you to improve collection rates and shorten the aging days of your accounts receivables....

Identity Theft and Your Taxes Tax-related identity theft occurs when someone uses your stolen Social Security number to file a tax return claiming a fraudulent refund. It presents challenges to individuals, businesses, organizations and government agencies, including...

Credit for Plug-in Electric Vehicles Winds Down The tax credit available for purchasers of new General Motors plug-in electric vehicles begins phasing out on April 1, 2019. The phaseout was triggered because General Motors, LLC has sold more than 200,000 vehicles...

Six Tips for Last-Minute Tax Filers Earlier is better when it comes to working on your taxes but many people find preparing their tax return to be stressful and frustrating and wait until the last minute. Complicating matters this year is tax reform and the newly...

The Qualified Small Business Stock Exclusion As the driving force in today's economy, small businesses benefit from numerous tax breaks in the tax code. One of these, the Qualified Small Business Stock (QSBS), was made permanent by the PATH Act (Protecting Americans...

Refundable vs. Non-Refundable Tax Credits Tax credits can reduce your tax bill or give you a bigger refund, but not all tax credits are created equal. While most tax credits are refundable, some credits are nonrefundable, but before we take a look at the difference...