tax planning

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2020 IRS Refund Chart: When to Expect a Tax Refund

2020-01-27T21:53:38+00:00

One of the first and most frequent questions that tax preparers hear each year from their clients is: When will I get my tax refund from the IRS? We have the answer (estimated) in a simple chart below. The tax reform law that took effect in early 2018 will still have an effect on many Americans, with [...]

2020 IRS Refund Chart: When to Expect a Tax Refund2020-01-27T21:53:38+00:00

SMALL BUSINESS OWNERS: HAVE YOU EVER ASKED YOURSELF THE FOLLOWING QUESTIONS

2020-01-27T22:09:00+00:00

Small business owners, have you ever asked yourself the following questions: Should I Incorporate or form an LLC?  Should I form a C-Corp or an S-Corp? Which business structure will get me the most tax savings? And what about annual report filings? When and HOW do I file those? And how do I keep my company [...]

SMALL BUSINESS OWNERS: HAVE YOU EVER ASKED YOURSELF THE FOLLOWING QUESTIONS2020-01-27T22:09:00+00:00

INDEPENDENT CONTRACTORS: ARE YOU IN COMPLIANCE WITH WI DWD CLASSIFICATION?

2020-01-27T22:16:03+00:00

Recently the Wisconsin Department of Workforce Development posted the following statement concerning independent contractors: The integrity of the Trust Fund is important to the Department. A key to maintaining that integrity is ensuring all employers properly classify employees, report wages and pay their unemployment tax contributions as well as other state and federal employment taxes when [...]

INDEPENDENT CONTRACTORS: ARE YOU IN COMPLIANCE WITH WI DWD CLASSIFICATION?2020-01-27T22:16:03+00:00

FIXED ASSETS: SHOULD YOUR BUSINESS PURCHASE THEM THIS YEAR

2020-01-27T22:25:38+00:00

Fixed assets: should your business purchase them this year? Bonus depreciation is a tax incentive that allows small- to mid-sized businesses to take a first year-deduction on purchases of qualified business property in addition to other depreciation.   How bonus depreciation works Generally, the point of depreciation is to spread out the cost of fixed assets [...]

FIXED ASSETS: SHOULD YOUR BUSINESS PURCHASE THEM THIS YEAR2020-01-27T22:25:38+00:00

Tax Workshop Is In Session

2019-02-18T19:08:24+00:00

With the new tax laws claiming to be easier to prepare tax returns, do you think you are ready to prepare your own return?  If you answered yes, do you know where to start and which software you will need? If you want to file using one of the various free software’s available but not sure where [...]

Tax Workshop Is In Session2019-02-18T19:08:24+00:00

THE IRS IS NOT ALWAYS RIGHT

2018-12-15T21:07:22+00:00

THE IRS IS NOT ALWAYS RIGHT by Kimberly Wenzel, EA Everyone knows that the IRS sends out letters to taxpayers every year indicating that something was wrong with the tax return that was filed.  The most common is the CP2000 letter. These letters normally infer that there is a large tax balance due because of errors [...]

THE IRS IS NOT ALWAYS RIGHT2018-12-15T21:07:22+00:00

VEHICLE MILEAGE RATES FOR 2019 INCOME TAXES

2018-12-14T20:41:11+00:00

2019 Standard Mileage Rate by Michael M. Sargent The optional standard mileage rates for business use of a vehicle will increase significantly in 2019 per the IRS announcement of Dec 14, 2018. For business use of a car, van, pickup truck, or panel truck, the rate for 2019 will be 58 cents per mile up from 54.5 [...]

VEHICLE MILEAGE RATES FOR 2019 INCOME TAXES2018-12-14T20:41:11+00:00

2018 LAST MINUTE TAX PLANNING

2018-12-07T19:14:10+00:00

By: Debra Rogers, Tax Management & Financial Horizons Staff Several years ago, as I was entering W-2 data for a tax return of a single person, I noticed the withholding just didn’t look right. I didn’t say anything right away as I wanted to see how things would play out after entering deductions and credits. However, [...]

2018 LAST MINUTE TAX PLANNING2018-12-07T19:14:10+00:00