Displaying: Tax Tips

Tax deductions for small business owners 

11 Tax Deductions for Small Business Owners  If you own a small business, you’re likely looking for ways to make every dollar stretch further. Given inflation, labor shortages, supply chain issues and the lingering effects of the COVID-19 crisis, you probably have…

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Tax relief for natural disasters: What you need to know 

Natural disasters that once seemed predictable and confined to certain regions are now striking everywhere. Property owners face questions of preparedness and recovery in communities that always seemed safe. While disaster victims turn to the Federal Emergency Management Agency (FEMA) and state…

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3 tips to help clients claim R&D tax credit 

Innovation is the lifeblood of any economy. Since Benjamin Franklin tied a key to a kite string, American entrepreneurs, inventors, researchers and tinkerers have probed the limits of science to discover new concepts and create new products.  That’s why research and development…

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How to avoid common mistakes made by tax preparers

“I’m only human,” the old song goes. “Born to make mistakes.”  And yes, for tax preparers, mistakes on taxes will happen. But errors can’t be accepted or expected. The rush of tax filings and documentation crossing your desk might make “efficiency” seem…

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5 tips for preparing your tax returns faster

Tax season is a stressful time for taxpayers and their accountants. However, there are ways to make it less, well, taxing for everyone involved. Prepare your clients for Tax Day by sharing the following five tax return tips for making the entire…

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What is tax-loss harvesting?

Investing always comes with some degree of risk, and the simple truth is that some investments don’t work out. While no one wants to take a loss, there is a benefit to a losing investment — at least when it comes to…

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4 types of cryptocurrency tax events

You’re a diligent tax preparer. To you, dollars and cents tell stories of tax brackets, reportable income, deductibles and refunds.   But now, a client who holds cryptocurrency walks in the door, and you have questions. Is it an asset? Is it income?…

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