A nondeductible expense is something you cannot claim when you file your taxes. Now, some people get confused as to what can and cannot be deducted, especially if they hope to get some money back. Some clients have incorrectly claimed something which resulted in issues including penalties and
The Benefits of Law Firm Accountants
A law firm needs a specialized CPA to ensure the legal practice can run smoothly. Law firm accountants are accustomed to the law firm's business structure, method of business, services, and highest risks. Having someone already well-versed in the field allows partners and attorneys to focus on their
Growing Small Businesses In Seattle
Seattle, Washington is a bustling Pacific Northwestern metropolis that's known for many things. The city is associated with friendly folks, (arguably) beautiful, rainy weather and coffeehouses galore. If you're thinking about making your mark in the Emerald City, then you should look into your
Major Companies That Don’t Owe Federal Taxes
Everyone dreads having to pay their fair share of federal taxes, but there are some multi-million dollar companies that do not pay a dime in taxes. Some of the wealthiest companies have not had to pay federal taxes in years, and 2018 was no exception. Some of the top companies, like Amazon, Alaska
How Would Universal Income Impact Taxes?
In the upcoming 2020 election, a debate topic is going to be the concept of universal income. If you're new to the idea, there's a myriad of different variations, but the core concept is the government would provide basic income for everyone to cover your finances (or most of your monthly finances).
4 Things Your 2018 Tax Return Taught You
Filing Your Taxes The deadline for filing taxes was April 15th, 2019 and most individuals have already filed their fees. The tax period is over and you can go back to handling your finances properly in preparation for the next tax season in 2020. Unfortunately, putting taxes at the back of your
What Is Considered Taxable Income?
Taxable income is anything that you cannot deduct, cannot shield from taxes, and was earned through a non-exempt job. There are a few things you need to talk to your accountant about during the tax season, and taxable income is perhaps the most important of all these things. 1. What Is Taxable
Should I File An Extension?
The deadline for filing taxes is quickly approaching. There are many reasons people miss the deadline for filing taxes and the IRS, in most cases, understands this; it's why they have the Form 4868 available. If a person is unable to complete their taxes by April 15 then they can request a six month