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Tax Record Keeping Tips for Individuals and Businesses

Posted by Taylor Bennett on Sep 16, 2020 8:13:00 AM

The key to avoiding headaches at tax time is keeping track of your receipts and other records throughout the year. Whether you use an excel spreadsheet, an app, an online system or keep your receipts organized in a folding file organized by month, good record-keeping will help you remember the various transactions you made during the year.

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

Tax Tips for Students With a Summer Job

Posted by Taylor Bennett on Jul 9, 2020 8:01:00 AM

Whether the goal is to gain experience or earn some spending money or help pay for college, summer is the prime job season for teens and college students. This year, however, with the coronavirus pandemic, the job situation has not been as easy - not to mention that it is starting later than usual. Nonetheless, if you are a high school or college student (or the parent of one) who has been lucky enough to find summer employment, here's what you should know about income earned during the summer months

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Topics: Taxable Income, Personal Finance, Taxes, Tax Planning

Estates and Trusts: Guidance for Itemizing Deductions

Posted by Missy Dennis on Jun 30, 2020 8:12:00 AM

The Tax Cuts and Jobs Act (TCJA) prohibits individual taxpayers from claiming miscellaneous itemized deductions for any taxable year beginning after December 31, 2017, and before January 1, 2026. However, proposed guidance has recently been issued clarifying that certain deductions of estates and non-grantor trusts are not miscellaneous itemized deductions and are allowable in figuring adjusted gross income, specifically:

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Topics: Personal Finance, Taxes, Managing Your Tax Liability, Tax Planning

Tax Planning Includes Keeping Good Records

Posted by Taylor Bennett on Jan 8, 2020 8:21:00 AM
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Topics: Taxes, Record Keeping, Tax Planning

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