As the initial 2015 tax filing season comes to a close in about four weeks, I wanted to address a few miscellaneous tax questions that are often asked of me and my staff during the course of meeting with clients and … Continued
Many tax strategies share the goal of reducing revenue and increasing expenses in order to reduce the ultimate net income of the company. This is good tax planning and we strive to accomplish this with each of our business owner … Continued
I hope that your new year has gotten off to a great start and that your holidays were very enjoyable. Having said that, it is now tax filing season! How exciting! I’m certain that your joyful anticipation of the best … Continued
With the holidays upon us, I want to be very brief related to my blogpost this month. I want to thank each of you who are clients of ours for your friendship and your patronage. We enjoy the work we … Continued
Because the majority of our clients live in Arizona, I have chosen this month to discuss the merits of contributions to charities that qualify as Arizona tax credits. Since these contributions qualify not only as dollar for dollar credits on … Continued
For many of our tax clients, especially those who own a business, year-end tax planning can pay handsome dividends when the tax return is completed early the next year. The refrain I cringe at hearing or using when it is … Continued
Per IRS guidelines, estimated tax payments are required when you receive income that isn’t subject to withholding. Examples are independent contractor income, investment income and prizes won or certain gambling winnings. Since income tax withholding doesn’t take place when these … Continued
United States House of Representatives bill HR 3236 cleared both houses of Congress and was subsequently signed by the President on July 31st. The purpose of the bill was “To provide an extension of Federal-aid highway, highway safety, motor carrier … Continued
Many taxpayers work for someone else and receive a W-2 at year-end. Reporting that income (and withholding) is fairly straight-forward each year. For someone who works for themselves and/or receives 1099 income as an independent contractor, proper tax reporting is … Continued
I’m sure you have heard the old adage that if you fail to plan, then you plan to fail. Well, that concept rings true with running a business as well. If you don’t know or care where you are going, … Continued