5 Benefits of Filing Taxes Early

It’s tax time again, your favorite time of the year! You are eager to gather all your tax documentation and giving it to your tax accountant. Ok, maybe this is not you. But, there are some benefits of filing your taxes early.

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Set Up a Business for Liability Protection

We get asked all the time. How do you set up a business? Do you need to file anything? Do you have to register the business? What type of business do you recommend? We will tackle these questions in a multi-part series reviewing the different business types: doing business as (DBA), limit liability company (LLC), and corporation.

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IRS Home Office Tax Deductions

Claiming IRS home office tax deductions increases your chances of an IRS audit. Is that true? In our experience, the answer is generally no. If you run your business out of your home and maintain a home office, then you should take your deductions. There is no reason to leave money on the table. Especially to the IRS!  The first step for claiming home office deductions is to understand the rules.

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