Saving money on taxes might be the most common question that a business owner has for their tax professional. But really, as a business owner, you should be asking how you can make the most of the current tax code, as it is written, and ensure your maximum refund. Unfortunately, most business owners are so busy [...]
Why do I have to pay taxes? Such a small, interesting question that opens the door for a barrage of follow-up. What are taxes? How are they used? Do we need those things? Are there better ways to pay for them? If you know the answers to these questions, then you might have a bright future [...]
A commonly overlooked step to protecting your personal tax and financial data is using strong passwords to protect online accounts and digital devices from data theft. The Internal Revenue Service, state tax agencies and tax industry remind taxpayers that using strong passwords and keeping them secure are critical steps to preventing thieves from stealing identities or [...]
Abacus CPAs, LLC, is partnering with the Internal Revenue Service, state tax agencies, the nation’s tax industry, and other partners to elevate awareness around basic security. Abacus CPAs, LLC, joins a nationwide campaign to mark the annual National Tax Security Awareness Week, calling on individuals to safeguard themselves against identity theft as the tax season approaches, [...]
If you read the Internal Revenue Code (and you probably don’t want to!), you may be surprised to find that most business expenses and deductions aren’t specifically listed. It doesn’t explicitly state that you can deduct office supplies and certain other expenses.Some expenses are detailed in the tax code, but the general rule is contained in [...]
