Tax & Business Tips Blog

Understanding the Types of Businesses

Understanding the Types of Businesses

Get to Know Your Business Type Different types of businesses are held to different laws and regulations. Each business type has different regulations regarding, license, taxes, and even how you are to pay and compensate employees. For many small businesses, the best initial ownership structure is either a sole proprietorship or — if more than oneRead more about Understanding the Types of Businesses[…]

New Tax Exemption for the 2016 Filing Year

New Tax Exemption for the 2016 Filing Year

A tax exemption is an allowable deduction for each person within your household that is considered to be an allowable exemption. That would mean, yourself, your spouse and each dependent child, or qualifying relative. An exemption allows you to reduce the amount of tax owed. This year, for the 2016 filing season, this tax exemption amountRead more about New Tax Exemption for the 2016 Filing Year[…]

To File Jointly or Not to File Jointly, What is Your best Filing Status?

To File Jointly or Not to File Jointly, What is Your best Filing Status?

Knowing which filing status is the right option for your tax filing is the first thing you’ll need to decide when filing your returns. Filing status is determined by a specific set of requirements within the tax codes. But many people are confused by which filing status they can file, and which make most sense.Read more about To File Jointly or Not to File Jointly, What is Your best Filing Status?[…]

Do you know why Filing Early is Best when Filing Taxes?

Do you know why Filing Early is Best when Filing Taxes?

Everyone knows that tax season has begun. There are those who rush to get their documents filed so they can get their returns as quickly as possible. Then, there are those who choose to wait taking their time to gather their papers, documents, receipts, etc. considering that the deadline isn’t until April 18, they tend toRead more about Do you know why Filing Early is Best when Filing Taxes?[…]