Tax

As an owner and operator of a small business, you wear many hats, and you are always on a tight schedule.  You are mired in day-to-day responsibilities of inventory management, product development, customer relations, and the list goes on.  So, when it comes time to prepare your taxes, you can either take on this ambitious…

You may need the services of a tax attorney if you are launching a new business, are confronted with a complicated tax picture, or the Internal Revenue Service (IRS) is investigating you.  For any of these circumstances, and more, it would be a good idea to hire a tax lawyer for your small business. What…

Being a dentist takes up a huge amount of time and energy.  There are the demanding duties related to dental services, as well as office administration, patient relations, some marketing, and overseeing the dental practice as a whole.  Just the idea of adding another responsibility, let alone managing your finances, might seem overwhelming and even…

You are probably an independent contractor if you are self-employed or a freelance worker. The IRS considers someone who performs work for someone else, and controlling the way that the work is done, as an independent contractor. Tax planning for an independent contractor could look a little different. In short, as an independent contractor, someone…

The year 2021 saw quite a few significant tax updates expected to prove quite beneficial to taxpayers. Among the changes that were implemented were increases to tax brackets and the standard deduction, in addition to extensions and expansions to some 2020 tax provisions, such as the expanded child tax credit. If you have yet to…

Here is an obvious statement: The U.S. tax code is complicated. Many people don’t mind paying their share of taxes, but the complexity of our tax system causes a multitude of problems. Federal estimates put the collective time spent on taxes at 6.08 billion hours in 2020. That is a lot of time to do taxes.…

If you are a doctor, you probably make a good income.  And because that is the case, you might assume you will owe more taxes to the government. Although your tax obligations are typically quite high, medical practices like yours have many legal tax strategies available to them. You might be surprised how much potential…

Now that we are in tax season, you want to make sure you do everything in your power to keep as much of your own money as possible.  One way to accomplish this endeavor is by searching for any and all tax deductions. You may be surprised to learn how many ways you can deduct…