I filed a tax extension – what now?

I filed a tax extension – what now?

Three tips on what to do after filing a tax extension If you weren’t done with your tax return in time to file by April 18, filing for a tax extension was a smart move. When you complete Form 4868, Application for Automatic Extension of Time to File, you get an extra...
Tax Extensions 2023

Tax Extensions 2023

Tax Extensions in 2023  For most individuals and small businesses, federal income tax returns for 2022 are due this Tuesday—April 18, 2023 (multi-member LLCs, S corps, and partnerships were due March 15). If you’re feeling stressed about meeting the deadline, we’ve...
What is a SEP IRA?

What is a SEP IRA?

What Is SEP IRA, and How Do They Work? A Simplified Employee Pension IRA, also known as a SEP IRA, is an individual retirement account (IRA) for people who are self-employed or own a small business. What is an IRA? An IRA is an individual retirement account that...
Section 179 Deductions: Business Vehicles

Section 179 Deductions: Business Vehicles

How to Write Off a Car For Your Business Section 179 Deductions for Buying a Business Vehicles If you purchase a new or used car or truck for your business, you can usually write off part or all of the purchase price by taking a section 179 deduction. Learn more about...
Depreciation 101

Depreciation 101

What Is Depreciation?  If you own your own business, you’ve probably heard the term depreciation before, but you might not understand exactly what it is, or how it’s calculated. When it comes to managing your business taxes, depreciation is an important concept, so...
Understanding Capital Gains

Understanding Capital Gains

Using Capital Gains Tax Treatment to Save on Taxes Understanding capital gains is important if you are trying to optimize your taxes and keep more of what you earn. Capital gains tax rates are typically lower than ordinary income tax rates, so using capital gains...