by Lori Bowden | Feb 1, 2025 | Tax & Accounting
It’s time again to start thinking about getting your tax return prepared. Here are some quick tips you can use to help speed tax processing and avoid hassles. Gather all documents needed to prepare an accurate return, including W-2s, 1099 forms, statements of interest...
by Lori Bowden | Jan 4, 2025 | Tax & Accounting
Wouldn’t it be great if your employees worked as if they owned part of the company? An employee stock ownership plan (ESOP) could make that a reality. Under an ESOP, employee participants gain partial ownership of the business through a retirement savings arrangement....
by Lori Bowden | Jan 3, 2025 | Tax & Accounting
The IRS has issued the 2025 cents-per-mile rates that can be used to calculate tax-deductible vehicle operating costs. Effective Jan. 1, 2025, the standard mileage rate for the business use of a car, van, pickup truck or panel truck is 70 cents per mile. This is up...
by Lori Bowden | Jan 2, 2025 | Tax & Accounting
Right now, you may be more focused on what you’ll owe (or receive as a refund) when you file your 2024 tax return than on tax planning for the new year. However, as you work through your annual tax filing, you should familiarize yourself with amounts that may have...
by Lori Bowden | Jan 1, 2025 | Tax & Accounting
Filing joint tax returns generally results in the lowest tax bill for married couples. However, in some circumstances, they may pay less taxes if they file separately, such as when one spouse has large medical expenses. Medical expenses are deductible only to the...
by Lori Bowden | Dec 4, 2024 | Tax & Accounting
Having won control of the White House, the Senate and the House of Representatives, Republicans will have the opportunity to move forward their vision for federal taxes. What might this mean? First, many provisions in President-Elect Donald Trump’s signature tax...
