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Tax Tips

The US government is announcing numerous endeavors to provide relief from the effects of the Coronavirus pandemic. As tax and business announcements become codified we will post them.<
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As part of our COVID-19 response, we are asking clients to submit tax information digitally, when possible, via our Document Access Portal, and are making extensive use video or telephone conferences in lue of appointments.<
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If you do not have a personal portal setup please use: Document Upload<

Below is a listing of our content based on your selected topic, click on the titles below for more information. If the term is unfamiliar, see the Term Glossary<.

Know The Benefits of Being Your Own Boss

There are many benefits that come from being your own boss. If you work for yourself, as an independent contractor, or you carry on a trade or business as a sole proprietor, you are generally considered to be self-employed. See our special list of tax tips< for the self employed or those who wish to be<.

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Reduce The Amount of Junk Mail, Telemarketer Calls, & Spam You Receive

Perhaps less of a Tax Tip, and more a suggestion for your personal sanity, but here are a listing of ways to limit the "noise" so you can focus on what is important:

Do Not Call List<

Stop telemarketers from calling you at home: www.donotcall.gov<

Direct Marketing Association<

Reduce physical junk mail & email spam: www.dmachoice.org<

www.OptOutPrescreen.com<

Reduce credit card and insurance offers by opting out online: www.OptOutPrescreen.com< or by calling (888) 567-8688.

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Tax Tips on Dependents and Exemptions

Even though every tax return is different, some tax rules affect every person who may have to file a federal income tax return. These rules include those covering dependents and exemptions. The IRS has issued important facts about dependents and exemptions, and reminds parents of the tax benefits for children.

Exemptions reduce your taxable income.<

There are two types of exemptions: personal exemptions and exemptions for dependents. For each exemption you can deduct $3,700 on your 2011 tax return.

Your spouse is never considered your dependent.<

On a joint return, you may claim one exemption for yourself and one for your spouse. If you're filing a separate return, you may claim the exemption for your spouse only if they had no gross income, are not filing a joint return, and were not the dependent of another taxpayer.

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Ten Things Businesses Mistakenly Forget To Discuss with Their CPA

  • A Change in Amount of Business
  • A Change in Nature of Business
  • Large Purchases or Sales
  • A Change in Ownership
  • Desire to Move or Open New Location
  • Seeking Financing
  • Communication from IRS or State Department of Revenue
  • Theft
  • Lawsuit
  • New Legislation
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Understand How Dependents Save You Tax

The IRS has issued important facts about dependents and exemptions, and reminds parents of the tax benefits for children.

Reviewing this information< can help ensure that you only pay the taxes that you should.

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