From the tax tips Tag

What are the Penalties For Early Retirement Plan Withdrawals?

If you have a question you would like featured on the blog, email Funds from any retirement account may be withdrawn early without a penalty if certain exceptions apply (like $10K for a […]

Tax FAQ Series: What’s The Difference Between a Pass-Through Entity and a Disregarded Entity?

There’s an important, but subtle difference between a Pass-Through entity and a Disregarded entity. An entity that has been organized under the laws of its applicable state can elect to be “disregarded” for tax […]

Tax FAQ Series: Who Qualifies As A Dependent?

If you have a question you would like featured on our TAX FAQ series, please email First, you should be aware that in 2018 the laws associated with dependents and related deductions changed […]

Tax FAQ Series: How Do I Pay My Taxes?

If you have a question you would like featured on our TAX FAQ series, please email A: If you owe federal tax, the IRS offers many easy ways to pay. Make sure you […]

Tax FAQ Series: How Do I Figure Out My Estimated Tax Payments?

Q: How do I figure out my estimated tax payments? Estimating taxes begins with estimating your income. Look at all potential sources of income you expect to receive during the year. Then determine all […]

Tax FAQ Series: Should I Lease or Purchase a Vehicle?

Q: Should I lease or purchase a vehicle? A: Do what makes the most sense for your business. There are lots of strategies, regulations and analyses involving the acquisition and depreciation of vehicles, but […]

What is the De Minimus Safe Harbor Election for small businesses?

The Revenue Code generally requires that taxpayers depreciate the costs of durable goods and equipment over the life of the item. Because it is a durable good, the IRS would say that a $10 […]

A Tax Planning Tip for the Small Business Owners

Year-end is approaching and now’s a great time to take a few fine-tuning steps to improve your tax situation. But be careful – many end-of-year tax planning “tips” really amount to giving away your […]

Identity Theft – It’s Hitting Tax Returns Too!

A taxpayer in California received a letter early this year notifying them that their 2013 tax return was being examined – but they hadn’t yet even filed their 2013 return. An Arizona couple was […]