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Early Filers Alert! Know whether you should file early

Mon, Feb 4th 2019
Tax filing season officially began on Monday, Jan. 28. With the new rules and a backlog of work due to the shutdown, it's more important than ever to get your tax records organized early. If any of the following situations pertain to you, consider filing your taxes as soon as possible. You’re worried about tax identity fraud. One of the most popular scams by identity thieves is to impersonate someone, file a return on their behalf, and steal their refund. But once you’ve filed, the window of... Read More »

Taking a Home Office Deduction

Mon, Jan 28th 2019
Cloud-based applications, extensive communication channels, and other new technologies make it easier to run your business out of your home. If you qualify, many home business expenses are deductible. Think you might qualify? You must first pass these tests. Trade or business use test. To qualify for business use of your home you must use part of your home for a qualified trade or business. This profit seeking activity must not be a hobby in the eyes of the IRS. Exclusive use test. You must use... Read More »

How to Build Your Savings Using Technology

Mon, Jan 21st 2019
According to a study by Cornell University, the human brain is wired to earn money more so than save it. As such, when we find we need more money in our lives, our instinct is to earn more and not spend less. In fact, this instinct tends to grow over time, and is one reason why people tend to spend more money when they receive a salary increase rather than save it. However, researchers believe that by being cognizant of this fact, we can take proactive measures to develop effective savings... Read More »

Reminder: Fourth Quarter Estimated Taxes Now Due

Mon, Jan 14th 2019
If you have not already done so, now is the time to review your tax situation and make an estimated quarterly tax payment using Form 1040-ES. The 2018 fourth-quarter due date is now here. Normal due date: Tuesday, January 15, 2019 Remember you are required to withhold at least 90 percent of your current tax obligation or 100 percent of last year’s federal tax obligation.* A quick look at last year’s tax return and a projection of this year’s obligation can help determine if a payment is... Read More »

5 things to START doing in the new year

Mon, Jan 7th 2019
New Year’s resolutions usually involve stopping things like eating, drinking and spending too much – and so on. You know the drill. However, according to U.S. News & World Report, 80 percent of New Year’s resolutions fail by the second week in February. Why not switch things up this year? Instead of setting yourself up for disappointment by attempting to abolish negative behavior, why not start doing some positive things? You’ll improve your quality of life and maybe even help the world.... Read More »