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Ask An Accountant-End of the Year Deductions

Ask An Accountant-End of the Year Deductions

With the end of 2013 hours away, I thought I would offer a few last minute tax saving tips for the bloggers and other cash basis businesses. If you need any equipment (computer, laptop, printer, camera, software etc…) now is the time to purchase, but you do not need to pay for the item(s) up front.  You can finance these items and utilize a provision in the tax code that allows for 100% accelerated depreciation on … Read entire article »

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Nerf Walkie Talkies Only $10!

Nerf Walkie Talkies Only $10!

Oh my!  I am done with shopping but I know my boys would go NUTS about these Nerf Walkie Talkies! Right now you can get Nerf Walkie Talkiesfor only $10! These are normally $24 so you’re saving 60%! Set includes two walkie talkies Keep in touch within 1000 feet, Morse Code button on the front of each The rugged sports design makes it perfect for games, tag or other outdoor activities Side on and off button, built in belt clip on … Read entire article »

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Ask An Accountant-Claiming Home Office Space

Ask An Accountant-Claiming Home Office Space

Today’s question has got to be in the top 5 most asked questions my blogging friends have me ask my husband! It’s that time of the year to get your year end tax information organized. My “Ask An Accountant” series should help with many questions that may arise. Remember, if you have a tax question, email my husband who is an experienced accountant at cjwtaxpro@gmail.com Question: I work at home.  Can I claim home office as a business … Read entire article »

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Ask An Accountant: Military Tax Breaks

Ask An Accountant:  Military Tax Breaks

Believe it or not, tax season is right around the corner!  My “Ask An Accountant” series should help with many questions that may arise. Remember, if you have a tax question, email my husband who is an experienced accountant at cjwtaxpro@gmail.com. Question: I know there are tax breaks for military families but I can’t seem to find a comprehensive list.  Do you have one available? Answer: There are actually many of tax breaks for the military.  Here are ten … Read entire article »

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Ask An Accountant: A Tax Lesson for Students

Ask An Accountant:  A Tax Lesson for Students

Even though it’s not tax season, you should never ignore your tax situation throughout the year!  My “Ask An Accountant” series should help with many questions that may arise. Remember, if you have a tax question, email my husband who is an experienced accountant at cjwtaxpro@gmail.com.  We don’t have a question to answer this week but thought that this IRS website information would be perfect for some of your teenagers! A Tax Lesson for Students Starting … Read entire article »

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Ask An Accountant: Estimated Taxes-Do I Need to Pay Them?

Ask An Accountant:  Estimated Taxes-Do I Need to Pay Them?

It’s tax time! My “Ask An Accountant” series should help with many questions that may arise. Remember, if you have a tax question, email my husband who is an experienced accountant at cjwtaxpro@gmail.com. Question: Do I need to pay estimated taxes? Answer: You may need to pay estimated taxes to the IRS during the year if you have income that is not subject to withholding. This depends on what you do for a living and the types of income … Read entire article »

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Ask An Accountant: Last Minute Way to Slash Your Tax Bill

Ask An Accountant: Last Minute Way to Slash Your Tax Bill

It’s tax time! My “Ask An Accountant” series should help with many questions that may arise. Remember, if you have a tax question, email my husband who is an experienced accountant at cjwtaxpro@gmail.com.   Please keep in mind this post is for informational purposes only and answers given are very general. Do not rely on this column for definite tax answers as many things depend on individual circumstances. Please contact your personal accountant or financial advisor for … Read entire article »

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Ask An Accountant-Charitable Contributions

Ask An Accountant-Charitable Contributions

It’s tax time! My “Ask An Accountant” series should help with many questions that may arise. Remember, if you have a tax question, email my husband who is an experienced accountant at cjwtaxpro@gmail.com. Charitable contributions can reduce your tax bill.  Here are some guidelines for making the contribution: 1. If your goal is a legitimate tax deduction, then you must be giving to a qualified organization. Also, you cannot deduct contributions made to specific individuals, political organizations … Read entire article »

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Ask An Accountant: Is My Insurance Check Taxable?

Ask An Accountant:  Is My Insurance Check Taxable?

It’s tax time! My “Ask An Accountant” series should help with many questions that may arise. Remember, if you have a tax question, email my husband who is an experienced accountant at cjwtaxpro@gmail.com. Question: I am getting a check from long term disability insurance. Is that taxable? Answer: … Read entire article »

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Ask An Accountant-Deducting Mileage For Delivery Drivers

Ask An Accountant-Deducting Mileage For Delivery Drivers

It’s tax time! My “Ask An Accountant” series should help with many questions that may arise. Remember, if you have a tax question, email my husband who is an experienced accountant at cjwtaxpro@gmail.com. Question:   I’ve got two sons, both deliver pizzas for Dominos.  Dominos gives the drivers around $1.85 per delivery. Most deliveries are at least 6 or 7 miles. If they document their mileage and their reimbursements, can they deduct the difference as unreimbursed business expenses?  Answer:  … Read entire article »

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Ask An Accountant-LLC/S-Corp Confusion

Ask An Accountant-LLC/S-Corp Confusion

It’s tax time! My “Ask An Accountant” series should help with many questions that may arise. Remember, if you have a tax question, email my husband who is an experienced accountant at cjwtaxpro@gmail.com. Instead of a question and answer this week, I’d like to attempt to clarify the confusion that seems to surround LLC/S-corp statuses and filing: … Read entire article »

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Where’s My Tax Refund?

Where’s My Tax Refund?

Have you filed your tax return already? I’m sure you’re wondering where your refund is so here is a helpful link that can help you find it! Where’s My Refund? Do not fret if your refund does not show up, the IRS has announced there is a problem with the database and some refunds are not showing when you enter your information.  You will need the following info before you go to the link: primary taxpayer Social Security … Read entire article »

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Ask An Accountant: Waiting On A 1099 Form

Ask An Accountant:  Waiting On A 1099 Form

It’s tax time! My “Ask An Accountant” series should help with many questions that may arise. Remember, if you have a tax question, email my husband who is an experienced accountant at cjwtaxpro@gmail.com. Question: What can I do if I am still waiting on a 1099 and have gotten no response from a company? Answer: … Read entire article »

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Ask An Accountant-Do I Claim Cash Back Rewards?

Ask An Accountant-Do I Claim Cash Back Rewards?

It’s tax time! My “Ask An Accountant” series should help with many questions that may arise. Remember, if you have a tax question, email my husband who is an experienced accountant at cjwtaxpro@gmail.com. Question: I have made quite a bit of cash from free gift cards sent to me by Discover.  Do I have to pay taxes on cash back rewards from credit cards? Answer: … Read entire article »

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Ask An Accountant: How Much Should I Put Away For Estimated Taxes?

Ask An Accountant:  How Much Should I Put Away For Estimated Taxes?

  It’s tax time! My “Ask An Accountant” series should help with many questions that may arise. Remember, if you have a tax question, email my husband who is an experienced accountant at cjwtaxpro@gmail.com. Question: Is there a specific amount I should be saving for taxes at the end of the year? Answer: … Read entire article »

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