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Posted by: Charles P Myrick CPA Posted on: Mar 13 2018

Do You Pay More Than You Should At Tax Time?

 

Taxes. If you are self-employed, the myriad tax rules that apply to your income may dampen your entrepreneurial spirit. Especially when you are preparing to file your return. But, taxes don’t have to be such a burden. Take advantage of the immediacy of your situation - what better time to do some planning than while everything is fresh in your mind. Here's some advice on how to get an early start on tax planning strategies for this year: 

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Posted by: Charles P Myrick CPA Posted on: Dec 12 2017

Boost Your Tax Savings in 2017 With Year-End Planning

The end of the year is always a busy time for business owners. While juggling holiday planning, you also have to take care of some important business duties so you will have a successful year when the calendar flips over. As 2017 draws to a close, the possibility of major tax legislation makes tax planning more important than in previous years. This year, good tax planning has to acccount for what may happen in the near future.  

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Posted by: Charles P Myrick CPA Posted on: Sep 19 2017

Can You Save on Taxes With a Home Office Deduction?

Do you use your home as an office? If so, it's worth considering whether or not you are eligible to take a tax deduction for your home office. The benefit can be significant. The home office deduction is one key way to reduce your tax bill. Here's some guidance from the IRS on how to determine your eligibility. 

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Posted by: Charles P Myrick CPA Posted on: Mar 21 2017

Tax Saving Strategies: Roth or Traditional IRA?

There are a few differences between a traditional IRA and a Roth IRA, and it is important that you understand these distinctions when you are choosing your retirement savings platform. Both types of retirement savings accounts can be beneficial, and you should talk with an accountant or qualified financial advisor to make the decision based on the best tax savings strategies for your individual needs. 

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Posted by: Charles P Myrick CPA Posted on: Mar 14 2017

Individual Tax Saving Strategies

No question. Today’s tax laws are complicated. Many individuals are confused about which credits and deductions they can claim on the 2016 return. Even if you use professional tax preparation services, it’s a good idea to be familiar with the types of tax breaks for which you many be eligible. 

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Posted by: Charles P Myrick CPA Posted on: Mar 07 2017

How to Prepare Your Business Travel Expenses for a Tax Audit

If you intend to deduct business travel expenses on your income tax return, you need to keep organized and adequate records. In the event of a tax audit, having proper documentation will ensure that you will be able to substantiate your deductions and get the tax savings for which you are eligible.

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Posted by: Charles P Myrick CPA Posted on: Mar 02 2017

Are You Eligible for the Home Office Deduction?

It's tax season, and most of us are focused on preparing and filing tax returns. You may file your return yourself or hire a tax preparation firm that provides small business accounting services. Either way, make sure you consider one key way to reduce your tax bill: the home office deduction. 

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Posted by: Charles P Myrick CPA Posted on: Feb 07 2017

Rental Property Tax Deductions: Don't Miss Out

You wouldn’t spend more than necessary on utilities for your rental properties, would you? Then why would you spend more on taxes than you have to? Every year, landlords lose money because they overpay on their taxes, missing important and easy deductions that could put cash into their pockets.

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Posted by: Charles P Myrick CPA Posted on: Dec 20 2016

Why Consult a Business Advisor for Year-End Tax Planning?

The end of the year is a busy time. You have the holidays to plan for, family to see, and gifts to buy. You also have to take care of some important business duties so you will have a successful year when the calendar flips over. Year-end tax planning is one of the most important tasks you can take on at the end of the year. 

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Posted by: Charles P Myrick CPA Posted on: Oct 04 2016

Tax Planning Strategies for Entrepreneurs

 

Taxes. If you are self-employed, the myriad tax rules that apply to your income may dampen your entrepreneurial spirit. Especially as the tax year comes to an end. But, taxes don’t have to be such a burden. We’re here to give you some advice on how you can take advantage of tax planning strategies this year. 

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