As with most things, there are pros and cons to filing an extension on your taxes. Let’s take a look at the pros of getting an extension to file first. Pros 1. You can avoid a late-filing penalty if you file an extension. The late-filing penalty is equal to 5...
Here are 4 easy steps I wanted to share with you for making it easy to have your 2016 taxes prepared: 1. Gather your forms. Be sure you know where your W-2, 1099, 1098 and other forms are. It’s also important to understand what forms you will use to prepare...
As I have noted in the last three posts, business travel can be a great tax deduction, but there are rules for deducting these expenses properly. If you know the rules, you can take these deductions with confidence, all while enjoying some time away from home. In this...
In my last post, More on the Value of Deducting Travel Expenses, I outlined more reasons why learning the rules for deducting business travel can be a great way to save tax dollars. I mentioned at the end of that post that there are IRS requirements for what travel...
It is so simple to deduct your travel expenses, if you have a business activity of some kind. You must do a little planning in advance and keep good documentation but this will allow you to save taxes big-time! First, you need to think outside the W-2 box and decide...
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