2024 Tax Deadlines
Click to read a quick list of important dates and deadlines for the 2024 tax year including payment deadlines, report filings, etc.
Accounting Articles
A Comprehensive Guide to Deductible Business Expenses: Unlocking Tax Savings
Introduction Understanding deductible business expenses is crucial for maximizing tax savings and boosting profitability as a business owner. By effectively identifying and categorizing deductible expenses, you can reduce your taxable income and potentially save a significant amount on taxes. In this blog post, we will explore the concept of deductible business expenses, highlight common categories, …
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Should I collect sales tax in Texas?
Did you recently start a business selling products or providing services in Texas? You may need to collect sales tax from your customers. Read this article to see if what you sell or provide is subject to sales tax in Texas.
Common bookkeeping mistakes
Bookkeeping is the organization of your entity’s financials to create a set of financial statements to give a business owner an accurate idea of a company’s health. Without knowing the current status of your company’s financial condition, how can a business owner run their business correctly? Below are a few commonly made mistakes and tips …
Did I accidentally work on Donald Trump’s Personal Tax Return?
If you’ve seen any major news outlet in the past week I’m sure you’ve seen the buzz about Donald Trump being asked to release copies of his personal tax return to the public. It has now become public that the CPA firm – BKM Sowan Horan LLP was the preparer of the former president’s tax …
Did I accidentally work on Donald Trump’s Personal Tax Return? Read More »
2023 Tax Deadlines
Click to read a quick list of important dates and deadlines for the 2022 tax year including payment deadlines, report filings, etc.
How to make an Estimated Tax Payment to the IRS
Click to read the quick step by step on how to make your estimated tax payment to the IRS online. Refer back to this page each time you need to make an estimated payment.
New 1099 Reporting Requirements for 2022 – what does it mean for you?
Starting in 2022 the IRS has issued new 1099 reporting requirements requiring Venmo, PayPal, Cash App to report business transactions of $600 or more to the IRS. What does this mean for the individual taxpayer? If I give money to my relatives over Chinese New Years does that mean I need to issue them a …
New 1099 Reporting Requirements for 2022 – what does it mean for you? Read More »
Auto Expense Deduction – Standard Mileage or Actual Expense?
What are the different types of auto expenses and how do I Know which one to take? The IRS gives you a choice to take actual or their standard mileage when it comes to the auto expense deduction on your tax returns. Booked financial always will go the extra mile and calculate the choice that …
Auto Expense Deduction – Standard Mileage or Actual Expense? Read More »
Business Tax Deductions That You May Be Missing
Common business deductions can be every day things you use within your home. Read more to see if there is money you are leaving on the table.