One of the more common scenarios I see with new businesses clients is neglect of the first steps of starting a business. Failure to do first things first can have serious tax and legal implications downstream. It cannot be stressed enough; organizati

The simplified home office option took effect starting January 1, 2013. Use of this option allows the taxpayer who uses a home office for business to deduct the space without maintaining expense records. It is recommended by the IRS as a viable alter

Several states exempt active duty military pay from state taxes. Included are National Guard/Reserve units that have been deployed to active duty, as well as some National Guard active duty for training. If this applies to you, and you did not take t

One of the most misunderstood and neglected business deductions is the home office. Both tax professionals and clients oftentimes are reluctant to take this valuable deduction. It is unfortunate, because the home office deduction is both valuable and

This article is a sobering reminder of the financial challenges the typical American now faces. It also presents solutions. One can realize their retirement goals through a combination of tax and financial planning in conjunction with an early start

Depreciation is a valuable tax deduction. It is oftentimes not taken due to taxpayer misconceptions, including the belief that the taxpayer will be heavily taxed on the depreciation when the asset is sold. Any additional tax represents a small percen

  Issue Number:    IRS Tax Tip 2014-51   Inside This Issue   Do you have an uneasy feeling that you overpaid taxes in a previous year? If your gut feeling rings true, it is possible to file an amended tax return. You generally have

Washington, D.C. (April 15, 2014) By Roger Russell For taxpayers who owe taxes with their tax returns, the IRS has provided ten tips about how to pay: 1. Taxpayers should never send cash. 2. If taxpayers e-file, they can file and pay in a single st

Study Finds Link between Financial Planning and Happiness Milwaukee (April 18, 2014) By Michael Cohn, Editor-in-Chief, AccountingToday.com The more discipline an individual brings to their finances, the more financially secure he or she feels in the

Now that you have filed your taxes and expect a sizable refund, it is time to consider adjusting your withholding. While nobody enjoys writing a check to the IRS, one should also avoid giving Uncle Sam an interest-free loan. Withholding is adjusted b