Virtual bookkeeping and tax business created to assist individuals and small to medium size companies with their bookkeeping and taxation needs
10/27/2023
Do you know the benefits of municipal bonds? Here is what you should know.
Time to Reconsider Municipal Bonds With the rise in interest rates, it is time once again to consider investment alternatives versus parking your money in a low interest savings account or in higher risk stocks. Here is a summary of the tax benefits of municipal bonds.
10/20/2023
Consider withdrawing money from tax-deferred retirement accounts as soon as you turn 59 to reduce future tax risk on your Social Security benefits.
Tax Efficient Retirement Requires Planning - Large retirement account balances can cause tax problems A big surprise can occur when you see your Social Security Retirement Benefits being subject to income tax. This additional tax is often triggered by Retirement Account distributions. Are you prepared for this?
10/13/2023
$8,400 more of your income is subject to Social Security taxes in 2024. Here are the details.
Hike in Social Security Benefits Announced for 2024 - How much you pay and checks received are all going up! 2024 Cost-of-Living Adjustment (COLA) changes are here. This is what you need to know.
10/06/2023
You can start receiving Social Security benefits when you turn 62, but you can give yourself a raise of 8% per year if you put it off.
How to Maximize Your Social Security - What every taxpayer should know When you decide to start taking your Social Security Benefit can have a big impact on the monthly amount you receive. Plan now to maximize your payments.
10/04/2023
The IRS is NOT always right. Here are tips to help defend yourself in an audit. Plus great tips from recent tax court cases!
Client Update Newsletter: October 2023 Powerful. Always right. Intimidating. These are some of the descriptions used to describe our nation's tax collection agency, the IRS. But believe it or not, the IRS is wrong more often than you think. In this month's newsletter, read about several recent tax court cases, including one where the IRS...
09/29/2023
Take advantage of all tax-free ideas. Many of them come from your employer. Here are a few to consider.
Employee Tax-Free Income Not everything is taxed. This is especially true of many employee benefits. Here is what you should know.
09/22/2023
Here's an area of the tax code that surprises many with a larger tax bill.
Understanding Tax Terms: Depreciation Recapture Too many taxpayers using a home office or having rental property are surprised by their tax bill when they sell their property. A little understood area of the tax code called depreciation recapture is often the culprit.
09/15/2023
Did you know that business meals are deductible but business entertainment isn't? Make sure you keep a detailed expense log distinguishing the two.
Deduct Business Meals the Right Way If you own your own business, are self-employed or run a side business, can you deduct the cost of client meals? The answer is not so clear after the passage of the Tax Cuts and Jobs Act. Here are some tips to stay on the right side of the new rules.
09/08/2023
Reminder: 3Q estimated taxes are due Friday, September 15. Here are some things to consider.
Reminder: Third Quarter Estimated Taxes Due - Now is the time to make your estimated tax payment If you have not already done so, please plan to make your third quarter estimated tax payment. The due date is Friday, September 15th.
08/25/2023
Oops. You donated too much to your IRA. What do you do. Follow these tips.
Oops. An IRA Contribution Error The IRS is beginning to tackle the problem of taxpayers contributing too much to their IRA accounts each year. Here is what you need to know.