Here are five tried-and-true ways to reduce your tax liability at tax time. Pay no more than you owe, or even increase your tax refund.  While Americans may disagree on how their taxes are spent, at tax time, most of us are looking for ways to pay no more than we owe, or even boost […]

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A small business owner wears many hats—and one of them is usually an accountant’s. Deciding whether to do your taxes on your own or hire a professional is just one of the many decisions that you’ll need to make each year ahead of tax time. But either way, the time to start preparing for next […]

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From guard dogs to Las Vegas-style showgirl costumes, there’s no limit to what people will try to write off at tax time for the sake of their business. But where do you draw the line? Which write-offs you’re trying to write off go too far? We assembled a team of three leading tax attorneys to […]

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The Internal Revenue Service has announced initial plans for processing tax returns involving the Earned Income Tax Credit and Additional Child Tax Credit during the opening weeks of the 2017 filing season. The IRS is sharing the information now to help the tax community prepare for the 2017 season, and plans are being made for […]

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Possible Deductions for Taxes Consult this list of 75 possible tax deductions for business owners. It’s just a start and not every one of these items is always a legitimate deduction. For example, you may be able to deduct entertainment expenses, but only when entertaining a client, customer or employee, while also meeting particular IRS […]

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Twenty-four hours after first announcing that several of its tax processing systems and tools went down, the IRS said Thursday its programs were back up and running. “Our processing systems are back in business. Taxpayers should see little, if any, impact on their tax returns or refunds,” the agency said. “We apologize for the inconvenience […]

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No one enjoys paying Uncle Sam, but it’s possible you’re shelling out more in taxes than you should—to the tune of four Benjamin Franklins. An H&R Block study from 2014 found that one in five Americans who do their own taxes on average left $400 on the table by not claiming all the credits and […]

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Most people think of April 15 as the key deadline for taxes. Although that is the due date for filing your tax return, when it comes to minimizing taxes, the key date is December 31. To take advantage of most tax breaks—for retirement savings, charitable giving, and more—you need to act before year-end. If you […]

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