Projected Income Tax Brackets And Rates For 2017

The proportion of your personal income that goes to the government will be determined by the income tax rates and your income tax bracket. As a small business owner, you can use projections to assist you as you plan and budget for your taxes. How your business structure affects your income tax When it comes to taxation, the majority of businesses are flow-through entities. For sole proprietorships, LLCs [...]

By | 2017-12-13T14:00:48+00:00 December 6th, 2017|Business Services, CPA-Blog, IRS Representation, Tax Deductions, Tax Returns, Tax Services, Tax Tips|Comments Off on Projected Income Tax Brackets And Rates For 2017

What is The Difference Between Standard and Itemized Tax Deductions?

Taxpayers have the option of claiming the standard tax deduction or itemizing their deductions (listing them separately) by whichever reduces their tax liability the most.  Here is a breakdown of the two. Standard Deduction A standard deduction refers to a set dollar amount that can reduce your income tax bill. The deduction depends on your tax filing status. For the 2017 tax year, the applicable standard deduction is [...]

By | 2018-01-31T13:59:22+00:00 November 27th, 2017|Business Services, CPA-Blog, IRS Representation, Tax Deductions, Tax Services, Tax Tips|Comments Off on What is The Difference Between Standard and Itemized Tax Deductions?

Hurricane Preparedness Tips for Taxpayers

Don’t Forget to Update Emergency Plans Because a disaster can strike any time, be sure to review emergency plans annually. Personal and business situations change over time, as do preparedness needs. When employers hire new employees or when a company or organization changes functions, they should update plans accordingly and inform employees of the changes. Make plans ahead of time and be sure to practice them. Create Electronic [...]

By | 2017-11-21T13:11:11+00:00 May 20th, 2017|Tax Tips|Comments Off on Hurricane Preparedness Tips for Taxpayers