CinchTax – The NEW way to get your taxes done.
We know, you hate doing your taxes! We understand, we are like a mechanic when your car breaks down. You never want to see us, but have to. That’s why we made CinchTax! It makes your side of tax season a breeze. https://youtu.be/aS9LMctxA5w What is CinchTax? Well instead of setting up an appointment, fighting traffic to get to the office, and sitting through a 30 min drop off appointment and a...
Charitable Deductions, Clothing and Household to Salvation Army
Charitable Deductions, Clothing and Household to Salvation Army This might be overall one of the biggest questions we get each and every tax season. Well not questions, but certainly confusion. According to Pub 561, the items you donate must be in good used condition (if electronic or mechanical, working) and you must determine the item’s Fair Market Value. Sounds hard? This is probably why some...
How to Use a Television as a Business Deduction
How to Use a Television as a Business Deduction. Did you know that a television could qualify as a business deduction? What? That doesn’t make any sense. A television is clearly a personal expense that is not deductible as a business expense. Have you seen televisions in customer waiting rooms, or perhaps used at your job to show training videos. Is that deductible? Yes of course do you see the...
How to Benefit From Tax Credits When My Kid is Off to College
Today we will be talking about the trying times when your children go off to college. Not only are your kids gaining some independence in their living and education life, they gain independence with the IRS. Going off to college is one of those milestones that needs just a bit of planning when it comes to taxes. Just because they may be able to get a refund on their part-time job, does not mean...
Why would I want an IRA or a Roth IRA?
IRA’s are great tools to use for tax and retirement planning. You can contribute to a traditional IRA if your income fits within certain parameters. You may also be able to contribute even if you’re currently contribute to a 401k at work. With a traditional IRA you get a tax deduction directly off your gross income. If you’re not interested in a tax deduction then the Roth is the way to go....
What would you pay for professional help in filing your taxes?
National Society of Accountants says average charge for 2014 filing is $273. What are you paying for your taxes? Turning to a pro: Even if tax software can do the job of filling out our 1040s and all those associated forms, schedules and worksheets, lots of us still turn to paid preparers for help. Admit it. Yelling at your computer is just not as satisfying as getting an explanation from...
Snafu with 1095-a Reporting, Could Delay A Million Taxpayers.
1095-a Refund?. Photo courtesy of frankieleon(CC Attribution) Up To 1 Million Taxpayers Could See Delayed Refunds After Obamacare Snafu, 1095-a Despite threats from IRS that this might be a “miserable” filing season, things seemed to be going reasonably well. Until now. Today, the Obama administration announced that it sent out about 800,000 bad tax statements. The specific tax statement is form...
How to fall back in love with your business. Businesses need love too.
Businesses having feelings too. Clients perceive your company's culture and personality, they are a reflection of you and the people inside the company. Let’s set the scene: when you started your business there were fireworks, dreams of a bright future and endless promises of commitment. The honeymoon period might have lasted months, years even, but after a while it started to fizzle out. Before...
Affordable Care Act Q&A LIVE Feb 9th @ 6pm
In an hour long Q&A session, get your Obamacare Tax questions answered right from the comfort of your home. Join Us February 9th @ 6-7pm. Affordable Care Act. Photo courtesy of Death to the Stock PhotoJohn and Mike have learned much over the last years since the Patient Protection and Affordable Care Acts were implemented. A couple of things remain true, taxpayers are very confused and...
Taxes – Are you waiting to receive your Form 1099 tax statement?
Possible delays on forms mailings, may delay your filing.Are you waiting to receive your Form 1099 tax statement for investment funds? In an effort to limit the number of corrected forms typically mailed each year, the IRS has granted an extension for the mailing of these tax documents. As a result, your Form 1099 will be mailed by March 14.Photo courtesy of Alan Cleaver(CC...
