Tax Comp

As tax time approaches, here are some tax issues that taxpayers frequently overlook, ranging from obscure deductions to overlooked tax credits and benefits. These items can save you a significant amount of taxes.

The lucky winner of Friday's Mega Millions lottery drawing will be sharing their $1 billion jackpot with the federal government and the state of Michigan after the tax collector comes.

Tax Cuts and Jobs Act may impact your tax return!

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The recent COVID-related tax relief legislation, passed late in December, extends and enhances deductions for cash charitable contributions.

Congress has authorized a second draw for PPP loans. Watch this video for a short overview of what you can expect.

PPP loans, payroll tax deferrals, the CARES Act, remote work - all of these are major topics to keep in mind as you file your 2020 business tax return. Here's a full breakdown.

It's tax time, and if you are like most taxpayers, you are probably facing the ominous chore of compiling records in preparation for your tax return. The task is never easy, but the effort usually pays off in the extra taxes you save! When you are fully prepared for your appointment, you'll have more time to explore additional deductions and consider a tax plan for the future.

Attention small business owners: The SBA has extended the Economic Injury Disaster Loan (EIDL) application deadline through the end of 2021.

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A good goal to strive for: Make 2021 the year you stop living from paycheck to paycheck.

If you sold your home this year or might do so in the near future, you should be aware of the many tax-related issues that could apply to that sale so that you will be prepared at tax time and not have to deal with unpleasant surprises.

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If the average monthly cell phone bill has dropped 26% since 2008, then why aren't you seeing the savings? It may be because of wireless taxes.

COVID-19 has touched nearly every aspect of the lives of every American, including our financial health. There will be some tax implications that many people have not considered. Watch the following video for some possible tax consequences so you can be prepared when tax time comes.

Gambling is a recreational activity enjoyed by individuals. Nevertheless, there are far more tax issues related to gambling than you might expect. Watch this video for a quick overview.

Some would-be recipients of stimulus checks were when they checked the status of their payments via the IRS Get My Payment tool only to discover that they did not recognize the destination bank account. Here's why.

eBay has launched the Up & Running Grants, a program providing 50 merchants with a package of $8,000 in cash and $2,000 worth of eBay credits for a total of $10,000 in financial support.

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It seems hard to believe, but the holiday season is almost upon us, and that means that the tax preparation season for 2020 returns will soon follow. With the end of the tax year just weeks away, it may be appropriate (especially this year, in light of the financial havoc created by COVID-19) to review some year-end tax issues that might reduce your tax bite for 2020 or provide long-term tax benefits.

An individual must have compensation in order to contribute to an IRA, unless the individual is a non-working or low-earning spouse who is allowed to contribute to his or her own IRA based upon the compensation of the working spouse.

Looking back at all that's happened since the start of the pandemic, it's clear that tech has played a pivotal role. Here are 3 ways digital strategies transformed businesses during COVID-19.

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Here's a tricky question: How do you know when it's the right time to scale your business? Read on to learn five critical identifiers for scaling and how to get it done.

News on a potential stimulus package changes constantly. Here's the latest on whether a package has any chance of passing Congress before the election.

The IRS is on a roll with catching wealthy Americans hiding money offshore. Learn more about the latest here.

First, there was the usual April 15th deadline. Then, there was July 15th. If you filed for an extension, your deadline was October 15th - and now that date has come and gone. What happens now if you missed it?

Tax Comp - Some Friday tax knowledge for our friends and colleagues.

Operating a SMB is hard work - and it's vital to know the financial health of your business at any time. Whether you're assembling your financial reports yourself or have hired professional help (like us), here are 12 metrics that can help you monitor your success.

To say COVID-19 has made 2020 a disastrous year for just about everyone would be an understatement. However, 2020 has given rise to more than the usual tax-planning opportunities. Thus, you may find it appropriate to schedule a tax-planning appointment well before the close of the year to take advantage of the tax benefits and strategies available for 2020.

The Department of Justice has charged Robert Brockman, a Texas billionaire, with the biggest tax fraud case in U.S. history.

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Are you an investor in stocks, bonds, mutual funds, etc.? If so, when you sell those securities, you will undoubtedly want to minimize your gains or maximize your losses for tax purposes. To do that, you'll need to know your tax basis in the investment (asset), which makes it important to keep track of the basis in all your investments.