Educating Business Owners about Tax Deductions.
Understand deductible start up costs for your new business
During this time of Great Resignation, we are getting a lot of calls from taxpayers who are starting new businesses. Start up costs have some unusual tax deduction strategies. Please know what you can and cannot deduct before incurring expenses only to find out there...
Memorial Day Weekend – Dont forget your RECEIPTS
Memorial Day for me is the official start of summer. I feel happier, lighter and more free. I do also notice that my email box has been lighter the last two weeks which leads me to believe that many of you have started your summer work hours also. We switch to 4 day...
IRS increases interest rates again
Hello there taxpayers Good news and bad news - The Internal Revenue Service today announced that interest rates will increase for the calendar quarter beginning July 1, 2022. The rates will be: 5% for overpayments (4% in the case of a corporation). 2.5% for the...
What is “Per Diem” for business tax deductions?
I often get asked by taxpayers - "Is it better to use Per Diem rates for business travel deductions?" and with all things business and taxes, my answer is, "it depends". Per diem refers to a fixed daily allowance the IRS allows to a taxpayer for business travel. The...
Income Tax Payment Plans do not affect your credit score
True! If you are on a payment plan with the IRS, this will not affect your credit score. There are millions and millions of Americans on payment plans with the IRS. Now I must say, if you can avoid a payment plan and pay your taxes timely, that is ofcourse the very...
Tax Deductible Travel Plans?
Well taxpayers, it seems the theme of tax deductible holiday plans is everywhere I look. I was reading Kiplinger's June magazine issue and I found results of a survey they had done. The survey showed: 30% of all travelers plan to work remotely during their vacation...
International travel has specific tax deduction requirements
There are different travel deduction rules when traveling outside the US. Yes! Did you know that? For those of you who want to take advantage of all these deductions, I highly recommend you take my 8 hour That's deductible program. I will make sure that you leave...
Get AHEAD with your 2022 Taxes
I am honored to have worked with Maryalene LaPonsie and Jennifer Ortiz on this article which appeared on USA News today. We were talking about how taxpayers can get ahead in their 2022 income taxes. One choice is to throw money at the problem by signing up for...
IRS opens Taxper Assistance Centers this Saturday, May 14th
If you'd been struggling with an IRS issue and unable to reach anyone on the phone, this may JUST be the solution for you......the IRS is opening their Taxpayer Assistance Centers - these are their local in person offices, this Saturday, May 14th from 9am to 4pm. Go...
Digital Nomads – Can you deduct your Travel expenses?
Even in the aftermath of COVID, digital nomads are still growing as a community. Anyone working remotely without a permanent residence is now a digital nomad. Is that you? One may guess that all travel expenses are deductible for digital nomads as they travel around...