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Tax Tips

How to Get Tax Credits for Business Research and Development

Research and development is an important part of starting and growing a successful business. Recently, the Internal Revenue Service (IRS) announced that qualified small business startups are able to apply a portion of the business research credit toward either a payroll tax credit or toward the employer’s portion of employees’ social security taxes, instead of […]

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Tax Documents: What to Keep and What to Shred

 As you check “file tax return” off your spring to-do list, you may be staring at another item you’ve been meaning to get to for some time – spring cleaning. Filing your annual tax return often requires gathering a lot of documents like receipts, W2s and 1099s, expense reports and more. Your desk and filing […]

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What Happens if I Don’t File My Taxes on Time?

The deadline for filing your taxes is fast approaching — this year, thanks to a weekend and a holiday, the deadline is April 18, 2017. But, life can be busy! Maybe your taxes are particularly complicated this year, or maybe you just don’t have the time to sit down and sift through the paperwork. So, […]

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Virginia Offers 2017 Tax Amnesty Program

If you have been agonizing over back taxes owed and mounting interest and penalty fees adding up, there may be some relief on the horizon for you. The Commonwealth of Virginia recently announced that it will be offering a Tax Amnesty Period in 2017 that will allow qualifying residents and business owners to have a portion […]

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What to do if You Can’t Pay your Taxes

The April 18 deadline to file your tax return is fast approaching, which means taxpayers have two options: send out your 2016 return to the IRS by the deadline or file for an extension by that date. But what if you don’t have the funds to cover what you owe? What if you can’t pay […]

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Home Renovations, Moving and Your Taxes 

Improving or moving into a home are both big expenses, and people often ask us if there are tax breaks available to those who incur such costs. As with most tax issues, the answer is tricky. So here’s what you need to know if you’re thinking about renovating your house or moving into a new […]

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Taxes and the Gig Economy: What Can You Write Off?

The United States’ freelance economy is growing rapidly, with more and more workers choosing to strike out on their own fulltime or take on a side gig to supplement their income. According to a 2016 survey by Freelancers Union and Silicon Valley freelancing giant Upwork, the number of freelancers and contractors in America hit 55 […]

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Tips to Get Your Tax Refund Faster

Nobody wants to wait to get a tax refund. If you’re anticipating getting money back from the government, odds are you want those funds in your bank account as quickly as possible. Here are tips on how to get your tax refund faster. You can file your taxes as soon as your or your accountant […]

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Fall Check-Up: Are You Paying Enough in Taxes?

A lot of things can change in a year – including some events that can affect your taxes. If you received larger refund than you thought you would in April or ended up owing money to the IRS, it may be worthwhile to review your tax situation before the end of the year. The average […]

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Seasonal Employees, the Affordable Care Act, and Your Taxes

For small business owners, seasonal employees can be key to keeping things running smoothly through the winter holidays or the summer. But how seasonal workers affect an employer’s size, especially in respect to the Affordable Care Act, can be complicated. If your business has at least 50 full-time employees (including full-time equivalents, or FTEs), on […]

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