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With the rush of the upcoming holidays and just weeks away from the New Year’s tax season officially getting underway, it is just about right time to consider your tax preparations. Tax season creeps upon millions of taxpayers every year as a recurring exercise. Instead of being caught off guard towards the end, one can actually follow few guidelines to start preparing for the upcoming 2018 filing season and gain an advantageous head start. 1. Read More

Small business owners often find themselves worrying when it comes to filing tax returns. It is generally considered cumbersome for small businesses to collect all financial and business transaction records at the end of every quarter/year and put it across to the CPA to prepare tax returns. Putting of tax preparations until the last minute can not only prove to be an expensive affair but also necessitate the recruiting of seasonal accountants and managing them Read More

Small business owners go through a great ordeal during tax preparations. Finding a way to strike a balance between operations to marketing of the product and finding time to do yearly small business tax preparation isn’t easy. Generally small businesses lack the resource to keep a tab on daily accounts. Overtime these accounts add up to a seemingly insurmountable task which would require the assistance of experience and expertise in the concerned arena. Here are 5 tips that can help small businesses be Read More

Planning, in general smoothens the course along every walk of life. And planning ahead provides the added advantage of forecasting possible scenarios down the road. Many perceive taxes as a once-in-a-year exercise, but it has all the elements of being a year round agenda. To exercise precaution, it is highly recommended that you keep receipts for all expenses and possible tax deductions that you consider claiming. Scanning and electronically filing for better accessibility will come Read More

As a consequence of the latest tax reform, there are going to be changes in Federal revenue tax charges for nearly all taxpayers. The charges of some of the taxpayers’ are likely to change greater than others. A closer look into the new tax rates and corresponding brackets will help shed some insight into the possible impact that will ensue. The following tables compare and contrast the changes in the Tax rates and brackets for Read More