self employment and taxes - what do you do?

Posted on: 28 July 2015

As you grow your small business and your profits increase, so will your tax liabilities. If you aren't experienced in dealing with business taxes in general, you may not understand the various avenues available to you as an entrepreneur to capitalize on those profits while still minimizing your tax bill at the end of the tax cycle. Working with a CPA is often the best way to identify savings opportunities, but there are some tried-and-true options to consider. [Read More]

Posted on: 7 July 2015

Taxes. They're one of the only things in life that are certain. While nobody really enjoys the process of filing taxes (except maybe the people who are paid to do it), learning about and taking advantage of the deductions available to you can make the end result a little better. Many people often--and unknowingly--pay much more than they need to. When you begin your tax preparation, take some time to get informed, and make the process a little better by knowing you're getting everything you deserve. [Read More]

Posted on: 27 March 2015

You don't need to give all your money to the Internal Revenue Services to cover tax liabilities. If you were generous and gave to charity, the IRS rewards you with tax credits. You also get credit if you or a family member paid tuition for secondary education. Don't miss out on tax credits that might put money back in your pocket. Education Credits Education tax credits can significantly reduce your tax liability. [Read More]

Posted on: 25 March 2015

Does your accounting firm (such as Herman & Cormany) have a mobile app? It may seem unnecessary for those that have simpler tax forms to fill out, but it can actually make the process of tax preparation much easier. Accounting firms that have mobile apps tend to be more tech-friendly and can offer a variety of extra features for their clients. 1. You Can Send In Your Receipts and Documents Easily [Read More]