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Writing Off Your Start-Up Expenses

April 28th, 2015

Business owners – especially those operating small businesses – may be helped by a tax law allowing them to deduct up to $5,000 of the start-up expenses in the first year of the business’s operation. This is in lieu of amortizing the expenses over 180 months (15 years). Generally, start-up expenses include all expenses incurred […]

Are You Leaving Tax Money On The Table?

April 21st, 2015

Each year the IRS reports about $1 billion in unclaimed refunds for individuals who did not file a tax return. The IRS estimates that approximately half of the unclaimed refunds are for amounts greater than $600. You may not have filed, thinking that because you don’t itemize and your employer is withholding tax that you […]

Do I Have to File a Tax Return?

April 14th, 2015

This is a question many taxpayers ask during this time of year, and the question is far more complicated than people believe. To fully understand, we need to consider that there are times when individuals areREQUIRED to file a tax return, and then there are times when it is to individuals’ BENEFIT to file a return even if […]

President’s Budget Proposal

April 7th, 2015

The President’s Fiscal Year 2016 Budget Proposal was just released and includes a number of tax proposals that would increase the taxes on higher-income taxpayers and provide more tax breaks for low- to middle-income taxpayers. The following are some highlights of the budget proposal that would impact individuals and small businesses, but remember these are proposals […]

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