Tax

17 10, 2017

What You Need to Know About the Possible Tax Reform

By | 2017-10-17T20:44:01+00:00 October 17th, 2017|Business Advice, Financial, For CPA's, Tax, The Tax GAB|0 Comments

The Republican members of Congress just released a proposal for their vision on tax reform. This is an issue we’ve been hearing about since Trump’s campaign, and  many of us may be wondering what it means this time around. Some issues have been addressed with more specificity than before, but some issues are still lacking [...]

4 07, 2017

Are You Ignoring the Household Employee Payroll Rules?

By | 2017-08-14T15:42:57+00:00 July 4th, 2017|Blog, Business Advice, Financial, Hiring, Monthly GAB, New employees, Small Business GAB, Tax|Comments Off on Are You Ignoring the Household Employee Payroll Rules?

  If you hire a domestic worker to provide services in or around your home, you probably have a tax liability that you don’t know about – or one that you do know about but are ignoring. Either situation can come back to bite you. When the worker is your employee, your liability includes both [...]

24 05, 2017

Why Do Small Businesses Fail, and How Can I Prevent This?

By | 2017-05-24T14:08:25+00:00 May 24th, 2017|Blog, new business owner, Starting a new business, Tax|Comments Off on Why Do Small Businesses Fail, and How Can I Prevent This?

Many people dream of starting a small business. This is a dream that can become a reality, or—as happens to about 33% of prospective business owners, according to the Small Business Administration – it can result in dismal failure within two years. There’s no magic-bullet solution to ensure a successful business, but if you don’t [...]

27 04, 2017

Why Am I Paying so Much in Taxes? A Tax Professional Can Help You Avoid Common Mistakes

By | 2017-04-27T15:02:06+00:00 April 27th, 2017|Blog, Financial, Tax|1 Comment

If you've ever wondered why your small business pays so much in taxes, maybe it's because you need to hire a tax professional to help you avoid common mistakes. There are a number of mistakes businesses routinely make that cost them big money when paying taxes, such as not choosing the right entity type for [...]

20 04, 2017

Do You Really Need To Pay So Much in Taxes?

By | 2017-04-20T15:00:24+00:00 April 20th, 2017|Blog, Tax|Comments Off on Do You Really Need To Pay So Much in Taxes?

Tax season is coming to a close in the next few weeks or so. While many people have already completed their returns, there are others who are waiting until the last minute to get things done. Either they don't feel like filling out their taxes, or they're way too busy to get things done. Either [...]

19 04, 2017

Tax Implications of Crowdfunding

By | 2017-04-19T13:30:28+00:00 April 19th, 2017|Blog, Monthly GAB, Tax, The Tax GAB|Comments Off on Tax Implications of Crowdfunding

Raising money through Internet crowdfunding sites prompts questions about the taxability of the money raised. A number of sites host money-raising projects for fees ranging from 5 to 9%, including GoFundMe, Kickstarter, and Indiegogo. Each site specifies its own charges, limitations, and withdrawal processes. Whether the money raised is taxable depends upon the purpose of [...]

13 04, 2017

What’s The Difference Between Independent Contractors and Employees?

By | 2017-04-13T15:44:49+00:00 April 13th, 2017|Blog, Tax|Comments Off on What’s The Difference Between Independent Contractors and Employees?

As your business grows over time you will probably want to expand and hire people for different roles. Luckily there are many options available for companies who need to find talented workers. As an employer, there are two main types of workers: employees and independent contractors. What's the difference you ask? For a new business, [...]

7 04, 2017

Don’t Overlook Tax Deductions for Home Ownership

By | 2017-04-07T12:59:15+00:00 April 7th, 2017|Blog, Monthly GAB, Tax, The Tax GAB|Comments Off on Don’t Overlook Tax Deductions for Home Ownership

Whether you already own a home or are considering buying one, you should be aware of the many tax benefits that go along with home ownership. There are plenty of reasons for owning a home, including the potential for capital appreciation and the fact that many of the costs are tax deductible, while rent is [...]

7 04, 2017

Estimated Tax Payments Are Not Just for the Self-Employed

By | 2017-04-07T12:51:38+00:00 April 7th, 2017|Blog, Monthly GAB, Tax, The Tax GAB|Comments Off on Estimated Tax Payments Are Not Just for the Self-Employed

Unlike employees, who have income, Social Security, and Medicare taxes withheld from their wages, self-employed individuals must prepay their taxes by making quarterly estimated tax payments. These are referred to as estimated tax payments because the self-employed individual must estimate his or her net earnings for the year and pay taxes on a quarterly basis [...]

9 03, 2017

Why You’re Paying So Much in Taxes: Common Tax Mistakes

By | 2017-03-09T18:55:50+00:00 March 9th, 2017|Blog, Tax|Comments Off on Why You’re Paying So Much in Taxes: Common Tax Mistakes

Everyone knows that taxes and coming up, and unless they're getting a federal refund, taxes are something most people don't look forward to. Some people have already filed their taxes, while others will wait until the last minute to do so. For those who are self-employed, dealing with taxes is an even bigger issue, since [...]