COVID-19 has caused millions of Americans to seek unemployment compensation, and some are receiving it for the first time. Just like any other type of income, unemployment benefits are subject to taxes—including unemployment compensation received as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Below is a brief guide to help you […]
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The New Year is here and already we can’t believe how fast it is going! We wanted to take a moment to share with you the latest mileage rates for 2020. These rates went into effect January 1, 2020 and are important for you to know if you keep track of your mileage. If you’re
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There are only a few days left in 2019. With that, you may be wondering what last-minute things you can do to help reduce your taxes. Here are a few things to consider: Donate to Charity Donating to charity is not only a great thing to do, it also may be a great tax benefit.
Last Minute End-of-the-Year Tax Planning Read More »
Tax day may still be several months away, but deductible expenses come up all throughout the year. It’s a good idea to keep track of which purchases you’ll be able to deduct and keep the receipts with your tax paperwork— this will help tax time go smoothly for you and make sure you save as
Educators – Find Out What You Can Deduct Read More »
Underwithholding or overwithholding taxes is a risk most people in the United States face, and if you work two or more jobs, there is an increased chance that your employers may not be withholding the right amount of tax from your paycheck. If you don’t catch any issues you may have, you will either not
Take Time to Do a Paycheck Checkup Read More »
Even a supposedly simple individual tax return can have its challenges, and with tax laws continually changing, it can be all too easy to make costly mistakes or to overlook deductions and credits you may be entitled to. If you want to make sure your taxes are filed correctly without taking on the burden of
Do I need a tax professional to handle my taxes? Read More »
If you keep track of your mileage for travel related to business, medical, or charitable purposes, you should be aware that the IRS has recently released new mileage rates for the upcoming year. These rates are determined through a study that includes the fixed and variable costs of operating a vehicle, and will take effect
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More Year Round Tax Tips! Welcome back! In our last post, we started the lengthy checklist for year round tax preparation for your Lancaster, PA business and individual returns. It’s important to keep documents and records organized, year round. It will eliminate stress for you when tax season rolls around. It will also help your
Year Round Tax Preparation Checklist, Continued Read More »
Tax preparation lasts all year long! Tax season is a stressful part of each year. Individuals and business owners must make sure that all documents and records are ready to turn in so that tax filing can proceed appropriately. Tax preparation, for your business or individual return, is an important part of filing taxes and
Tax Preparation Tips: Year Round Checklist Read More »
