Tax Scams To Be On The Lookout For
Receiving contact from the IRS can be enough to make your heart drop but being contacted from someone claiming to be from the IRS and falling into a tax scam can sometimes be even worse. The sad thing is that tax scams can happen any time of the year and not just around the tax […]
6 Tax Refund Myths
As tax season comes to a close it’s important to understand and debunk the tax myths that are focused around tax refunds. There are many myths that are focused around your tax refund and it’s always best to consult with your local CPA to understand tax laws and better prepare yourself to avoid penalties and […]
Employer Credit For Paid Family And Medical Leave
A new Employer credit for Paid Family and Medical Leave, that has been enacted by the Tax Cuts and Job Act (TCJA) is imposed to help businesses reduce their taxes while employees are on paid leave from their job duties due to specified reasons. Employers are eligible to claim this credit based on the wages […]
How To Survive An Audit
Getting news from the IRS that you’ve been selected for an audit can be extremely worrisome and overwhelming, even if you believe that you haven’t done anything wrong. When getting a notice from the IRS regarding an audit it is most likely not for a return that you’ve just filed. Generally the IRS has three […]
Love and Taxes
About 10 percent of people in the United States that are currently married said it all began with a Valentine’s day proposal. The vast majority of taxes collected by the IRS each year comes from married couples. Love and taxes go hand in hand, so if you’re a newly married couple or are planning on […]
Tax Preparation Mistakes Every Business Should Avoid
Tax season can be a nightmare for most business owners. One small mistake can cause you to pay additional taxes, interest, penalties and fees. It’s not surprise that many taxpayers make some mistakes every year. However, for business owners, these mistakes can lead to hefty penalties and delay refunds. To make your tax season less […]
Standard Mileage Rates For 2019
The IRS has issued the standard mileage rates for 2019. Do keep in mind since the new Tax Cuts & Job Act (TCJA) there have been changes to claiming certain travel and moving expenses. Starting January 1st , 2019 the standard mileage rate for the use of a car, pickup, panel truck or van are […]
Important Tax Deadlines For 2019
Instead of scrambling when tax season rolls around, trying to figure out and gather all of your required tax forms that must be filed, be prepared and keep your eye on upcoming tax deadlines for the 2019 tax season. Gurian CPA has provided all the important tax deadlines for 2019 to keep you informed for […]
10 Tax Terms To Get You Through Tax Season
Just like with every other field of business, the tax field has it’s own lingo, which can add to the complication of understanding how to file your taxes. Gurian CPA has provided a list of 10 tax terms that will get you through tax season and help you identify and understand certain tax phrases.
How To Maximize Your Tax Refund
Everyone knows that the best part of tax season is receiving your tax refund after you’ve filed. Whether you’re using your tax refund to boost your saving, pay off debt, invest in the stock market or just buy yourself something nice! For the 2017 tax year the IRS collected more than $3.4 trillion, processed more […]
Filing Taxes For A Loved One That’s Passed Away
If a family member of someone close to you passes away, one of the last things on your mind is filing taxes on their behalf. Although, when someone passes away it is still necessary that their tax return be filed in the year that they passed away, as well as years prior that they might not have filed a return. Gurian CPA has provided some tips on filing a tax return on behalf of someone that has passed away before being able to file their taxes.
How to Avoid an Audit
One of many concerns you have while filing your tax return is raising a red flag to the IRS to be audited. You can’t 100 percent protect yourself from an audit because sometimes it’s just the luck of the draw, but you can lower your odds of being audited by following the provided tips below.
The 12 Tax Tips of Christmas
With Christmas in full view and tax season right around the corner, Gurian CPA has complied the 12 Tax Tips of Christmas to ensure that you’re fully prepared when it comes to filing your tax return for the upcoming tax season. This is an ongoing post with a Tax Tip of Christmas posted every business day until Christmas, so make sure that you stay tuned to make sure that you receive all 12 Tax Tips of Christmas!
Meal & Entertainment Deductibility After the TCJA
After the Tax Cuts and Job Act of 2017 (TCJA), business owners should consider consulting with a professional tax advisor when it comes to the deductibility of their meals and entertainment expenses. Congress has been skeptical of these types of deductions because business owners have been known to claim expenses for activities that are unrelated […]
Don’t Be A Turkey When It Comes To Taxes
Thanksgiving is tomorrow, and if that’s not exciting enough on its own, it’s also followed by two of the most popular days for all you shopaholics and bargain hunters. It’s that time of year where everyone has been purging the internet and local catalogs looking for the ultimate deals for their loved ones Christmas gifts. […]
2018 Tax Reform is Now in Affect for 2019 Tax Season
2018 is the year that the new tax law, imposed my President Donald Trump in December 2017, is now in affect. We’ve all had a year to prepare for the changes, however many still don’t know exactly how the 2018 Tax Reform will affect them for their 2019 tax season. The new tax law is […]
How to Keep Accounting Records for a Small Restaurant
by Devra Gartenstein Sales Totals A small restaurant should keep records of its sales revenue after each meal shift as well as totals for each day. Even relatively simple cash registers will print reports tracking food sales in different categories such as entrees, appetizers and beverages, as well as sales-tax totals and amounts that customers […]
IRS Tax Tips for Starting a Business
When you start a business, a key to your success is to know your tax obligations. You may not only need to know about income tax rules, but also about payroll tax rules. Here are five IRS tax tips that can help you get your business off to a good start. Business Structure. An early choice […]
Do beneficiaries of a trust pay taxes?
Beneficiaries of a trust typically pay taxes on distributions they receive from the trust’s income. However, they are not subject to taxes on distributions from the trust’s principal. When a trust makes a distribution, it deducts the income distributed on its own tax return and issues the beneficiary a tax form called a K-1. The […]
How Can American Expats Reduce their IRS Taxes?
Americans living abroad are still required to file US taxes. The US is the only country that requires its expats to file. It is because the US taxes based on citizenship rather than on residence. This leaves the millions of Americans who work abroad at risk of double taxation, paying taxes in both the country […]
