Great mines have great purpose, others have wishes. Little minds are tamed and subdued by misfortune; but great minds rise above them. Washington Irving
Quote of the Month – May 2013
He who says he can and he who says he can’t are both usually right. Confucius
Basic Rules for Paying Estimated Taxes
This is topic no one really wants to discuss because most people dislike paying the IRS on a quarterly basis. Who wants to take money from their earnings to pay Uncle Sam? To date, we have not found anyone that enjoys this process. But it is a necessary evil. Failing to pay estimates can lead to large tax bill at the end of the year including a significant amount of penalties. This blog reviews the basic rules for paying estimated taxes. Continue reading…
Home Office Deduction Alternative
Deducting your home office is usually a debated expense to take on your tax return. You may be reluctant to take this deduction because you did not keep good business records to claim the deduction. Recently, the IRS announced an optional safe harbor method for determining your home office deduction. If the safe harbor method is used, you are not required to keep records. Continue reading…
Pitfalls of Charitable Contribution Deduction Record Keeping
The charitable contribution deduction is one of the main deductions most individuals claim on his or her personal tax return. It is also a deduction some taxpayers and practitioners claim without supporting documentation. What are the proper record keeping rules for the charitable contribution deduction? Continue reading…
2014 and 2018 Tax Changes Due to Obamacare
In our previous blog, we reviewed the 2013 tax changes due to the Patient Protection and Affordable Care Act or in other words Obamacare. This blogs reviews the 2014 and 2018 tax changes. Continue reading…
2013 Tax Changes Due to Obamacare
We get quite a few questions and comments regarding the Patient Protection and Affordable Care Act or in other words Obamacare. This blogs reviews the 2013 tax changes.
Quote of the Month – April 2013
Only a life lived for others is a life worthwhile. Albert Einstein
New Website Video – Unfiled Tax Returns
I know I will get made fun of with how I said “One Call!” May be I was a little too serious on this one. New video for Unfiled Tax Returns page.
New Website Video – Offer in Compromise
I tried to have little fun with this one. This is a new video for the Offer in Compromise page.