6 Reasons Why Business Owners Should Use A CPA For Taxes
Outsourcing your tax preparation services to a CPA is one of the best ways to ensure that your business is in compliance with tax laws and that your business’s accounting needs are being met. Using a CPA for taxes helps you not just during tax season, but all year-round, as you can rely on their expertise to plan appropriately and help grow your business. Here are some of the key reasons why business owners should use CPAs for taxes.
Read More →Tax Planning For Small Businesses: 6 Helpful Ways To Prepare For Your CPA Meeting
Before meeting with your CPA to start tax planning, you’ll want to ensure that you’re as prepared as possible so that your meeting goes smoothly. Here is a general checklist you can use when you’re ready to meet with a CPA about tax planning. If you have any questions about whether or not you have everything your CPA needs, you can give them a call.
Read More →Important Tax Changes For 2024 Taxes
While 2024 marks the start of a new tax year, tax season for the 2023 tax year begins January 29th. It’s important to be aware of tax changes that can impact you in order to ensure that you are filing your taxes correctly and that you’re taking advantage of all deductions and credits available to you. Fortunately, a CPA can enlighten you to every tax change that’s applicable to you so that you can rest assured that your taxes are done right.
Read More →2023 Year In Review: What’s Your Financial Wrap-Up?
Before planning your finances for the next year, it’s important to do a compilation and review of your past year to gain an accurate picture of the full-breadth of your financial situation. Annual reviews can be done any time of year, but with 2023 drawing to a close, it’s the perfect time to go over your financial wrap-up so you can step into the new year equipped with a plan for success.
Read More →Tax Deductible Donations: Effective Ways To Get Back While Giving Back
Whether you’re an individual or run a business, it’s important to know that not all deductions are treated equally. Working with a qualified CPA will ensure that you know how to properly handle charitable donations, as the rules can be quite complex.
Read More →Tax Preparation and Planning: Eliminate Surprises on Tax Day
Check back for our monthly posts on taxes, we’re Glendale tax accountants helping some of the best companies in Glendale. One of the most dreaded words for the average person is to hear “taxes”. The connotation is money that needs to be paid no matter what and a sneaking concern that there will be an amount owed. You will find taxpayers who would rather get large refunds then deal with the possibility of owing taxes at the time of filing even though this is not a good money management strategy. This post will try to help bring a rationale approach to getting ready for tax filing time and planning so there won’t be surprises. The first item that needs to be defined is what type of income are you going to need to report. There are three different categories that you will typically fall into: Employee, self-employed and passive income which is dividend, interest, and rental income as examples. Passive income from an income tax point of view is more limited then the list above but conceptually understanding this group as passive is the easiest way of think about it as you are not actively involved in the earning of that income as you would with a normal job.
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