by Mary Philipps | Oct 25, 2021 | Bookkeeping, CFO Services, Small Business, Taxes, What is Hot
Tax-Savvy Investment Strategies for Retirement AccountsWhile most people receive Social Security, a secure financial retirement depends on also having significant savings in a retirement account. Typically these savings must last nearly 20 years (assuming the average...
by Mary Philipps | Oct 21, 2021 | Bookkeeping, CFO Services, Small Business, Taxes, What is Hot
Tax Credits for Energy-Efficient Home RenovationsTwo federal income tax credits reward energy-efficient home improvements very differently. Which credit you use depends on the improvements you make. Under federal tax law, new energy-efficient windows and doors...
by Mary Philipps | Sep 19, 2021 | Bookkeeping, Small Business, Taxes, What is Hot
Many Americans have been working from home due to the pandemic, but only certain people will qualify to claim the home office deduction. This deduction allows qualifying taxpayers to deduct certain home expenses on their tax return when they file their 2021 tax return...
by Mary Philipps | Sep 17, 2021 | Small Business, Taxes
WASHINGTON — During National Small Business Week, the Internal Revenue Service reminds business owners that it’s critical to correctly determine whether the individuals providing services are employees or independent contractors. An employee is generally considered to...
by Mary Philipps | Sep 15, 2021 | Bookkeeping, CFO Services, Small Business, Taxes
End-of-the-Year Income Tax ChecklistEvery year we hear about the same old things we should do by Dec. 31 to save money on our taxes the following April. In this article, we’ll address some items you should think about prior to Dec. 31 and provide some...
by Mary Philipps | Sep 1, 2021 | Bookkeeping, CFO Services, Small Business, Taxes, What is Hot
Tax Tips Before Your Income Blows UpAs entrepreneurs, we dream of making it BIG. We hone our skills for years, and sometimes go through 2, 3, 4 or more iterations of our business before it starts gaining traction, all while dreaming of the day that we’ll make …Forbes...
by Mary Philipps | Aug 27, 2021 | Bookkeeping, CFO Services, Small Business, Taxes, What is Hot
Marriage? Give Me A (tax) BreakSo, I hear you got married. Congrats! And you’re filing your taxes jointly for the first time, and want to know more about how to do that! Is that right? Just so you know, you don’t have to file jointly, but those romantics at...
by Mary Philipps | Aug 18, 2021 | Bookkeeping, Small Business, What is Hot
Tax Breaks for Homeowners and Home BuyersOwning a home is part of the American Dream. Whether you fancy a log cabin in the middle of nowhere, a suburban Cape Cod with a white picket fence, or a downtown condo in the sky, there’s just something special about...
by Mary Philipps | Aug 11, 2021 | Bookkeeping, Small Business, Taxes, What is Hot
Ways to Prepare for Higher TaxesPresident Biden is pushing an agenda of raising taxes on corporations and the wealthy to help fund proposed bills for infrastructure and social safety net programs. Under his plans, the corporate tax rate could increase from …Kiplinger...
by Mary Philipps | Jul 27, 2021 | Taxes, What is Hot
Important changes to the Child Tax Credit will help many families get advance payments of the Child Tax Credit starting in the summer of 2021. Half the total credit amount will be paid in advance monthly payments and you will claim the other half when you file your...
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