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Avoiding surprises as a business owner is crucial to ensure you have a successful business. The same goes for managing your personal finances. By subscribing to our blog and newsletter you get the latest updates on the world of finance and taxes. Additionally, by visiting our main topic categories below you can educate yourself on the various topics regarding tax education, personal finance, and business ownership. 

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Tax Preparation vs. Tax Planning

Posted by Scott Farnes on Nov 4, 2020 8:31:00 AM

Many people assume tax planning is the same as tax preparation, but the two are quite different. Let's take a closer look:

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Topics: Taxable Income, Business Ownership, Personal Finance, Taxes, Record Keeping, Managing Your Tax Liability, Tax Return, Tax Planning, Tax Preparation

Tax Breaks for Teachers and Educators

Posted by Taylor Bennett on Aug 26, 2020 8:11:00 AM

While many schools are switching to hybrid or remote learning models, teachers and other educators should remember that they can still deduct certain unreimbursed expenses such as classroom supplies, training, and travel. Deducting these expenses helps reduce the amount of tax owed when filing a tax return.

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Topics: Taxes, Record Keeping, Tax Deduction

What to Do If You Are Missing Important Tax Forms

Posted by Scott Farnes on Mar 11, 2020 8:38:00 AM

If you are ready to file your taxes but are missing important tax forms here's what you should do:

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Topics: Taxes, Record Keeping, Tax Return, Tax Preparation

Tax Treatment of Virtual Currency Transactions

Posted by Taylor Bennett on Nov 21, 2019 8:03:00 AM

If you've invested in Bitcoin and decide to sell you need to consider the impact of virtual currency transactions on your taxes. Here's what you should know:

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Topics: Taxable Income, Personal Finance, Taxes, Record Keeping, Tax Return

Tax Preparation vs. Tax Planning

Posted by Scott Farnes on Oct 10, 2019 8:23:00 AM

Many people assume tax planning is the same as tax preparation but the two are actually quite different. Let's take a closer look:

Read More

Topics: Business Ownership, Personal Finance, Taxes, Record Keeping, Managing Your Tax Liability, Tax Return, Tax Planning, Tax Preparation

Homeowner Records: What to Keep and How Long

Posted by Taylor Bennett on Sep 16, 2019 8:33:00 AM

Keeping full and accurate homeowner records is not only vital for claiming deductions on your tax return, but also for determining the basis or adjusted basis of your home. These records include your purchase contract and settlement papers if you bought the property, or other objective evidence if you acquired it by gift, inheritance, or similar means. You should also keep any receipts, canceled checks, and similar evidence for improvements or other additions to the basis.

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Topics: Personal Finance, Record Keeping