If you own a company and travel for business, you may wonder whether you can deduct all the costs of having your spouse accompany you on trips. It’s possible, but the rules are restrictive. Group of business people in the airport terminal on arrival or before departure First, your spouse must be your [...]
Give Your Forms a Professional, Uniform Look in QuickBooks Adding a logo is a good start. But there are numerous ways you can make your QuickBooks forms look better. You know how you react when you get a sloppy, unattractive invoice from a vendor. You may wonder if they are as careless with the creation [...]
In recent years, many people have pivoted to working from home, and that brings up tax questions. If you’re on of those people, you might wonder, “Can I claim the home office deduction on my 2022 tax return?” The short answer is: only if you’re self-employed. Employees can’t currently claim home office expenses, and [...]
If you run a business, you know that you need to support expenses with detailed records. To be deductible, every expense on your tax return might have to be defended if your company is subject to an audit. Plus, failing to operate in a businesslike manner, complete with good records, might lead the IRS to [...]
The IRS generally begins accepting the previous year’s individual tax returns in late Janu. Here are quick tips you can use to help speed tax processing and avoid hassles. For starters, contact us soon for your tax preparation appointment. Gather all documents needed to prepare an accurate return, including W-2s, 1099 forms, and statements of [...]
A Health Savings Account (HAS) coupled with a high-deductible health plan can be a powerful tool for funding medical expenses on a tax-advantaged basis. For 2022, individuals with self-only coverage can make tax-deductible contributions to an HAS of up to $3,650 ($7,300 for family coverage). These limits are increased by $1,000 for individuals aged 55 [...]