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Year-End Tax Planning Strategies for Businesses There are a number of end of year tax planning strategies that businesses can use to reduce their tax burden for 2019. Here are a few of them: Deferring Income Businesses using the cash method of accounting can defer income into 2020 by...

Year-End Tax Planning for Individuals With the end of the year fast approaching, now is the time to take a closer look at tax planning strategies you can use to minimize your tax liability for 2019. General Tax planning Strategies General tax planning strategies for individuals include postponing income...

Tax Due Dates for November 2019 Anytime Employers – Income Tax Withholding. Ask employees whose withholding allowances will be different in 2020 to fill out a new Form W-4. The 2020 revision of Form W-4 will be available on the IRS website by mid-December. November 12 Employees who work for...

Creating Statement Charges in QuickBooks Depending on what kind of business you have, you probably have a preferred way of billing customers. If they walk into your shop and present a credit card or cash, you create sales receipts. If they order off your website, they might receive an...

Rental Real Estate Qualifies as a Business A safe harbor is now available for taxpayers seeking to claim the section 199A deduction with respect to a “rental real estate enterprise.” What this means is that certain interests in rental real estate – including interests in mixed-use property – are...

Expat Compliance With US Tax Filing Obligations Taxpayers who relinquish citizenship without complying with their U.S. tax obligations are subject to the significant tax consequences of the U.S. expatriation tax regime. If you’re an expat who has relinquished — or intends to relinquish — your US citizenship but still...

Employer Credit for Family and Medical Leave Thanks to the passage of the Tax Cuts and Jobs Act last year, there’s a new tax benefit for employers: the employer credit for paid family and medical leave. As the name implies, employers may claim the credit based on wages paid...

Far far away, behind the word mountains, far from the countries Vokalia and Consonantia, there live the blind texts. Separated they live in Bookmarksgrove right at the coast of the Semantics, a large language ocean. A small river named Duden flows by their place and supplies.

Be Prepared When Natural Disasters Strike While September and October are prime time for Atlantic hurricanes, natural disasters of any kind can strike at any time. As such, it’s a good idea for taxpayers to think about – and plan ahead for – what they can do to be...

File 2018 Tax Returns by Oct. 15 Extension Deadline Time is running short for taxpayers who requested an extra six months to file their 2019 tax return. As a reminder, Tuesday, October 15, 2019, is the extension deadline for most taxpayers. For taxpayers who have not yet filed, here...

Tax Advantages of S-Corporations As a small business owner, figuring out which form of business structure to use when you started was one of the most important decisions you had to make; however, it’s always a good idea to periodically revisit that decision as your business grows. For example,...

Small Business: Tips for Ensuring Financial Success Can you point your company in the direction of financial success, step on the gas, and then sit back and wait to arrive at your destination? While you may wish it was that easy, the truth is that you can’t let your...