Category Archives: Accounting Tips

Learn About This Year End Tax Strategy

Save Money with This Year End Tax Strategy 

Do you want to save money with a unique year-end tax strategy? Year-end is rapidly approaching and you only have a couple of months to utilize tax-saving strategies. The Tax Cuts and Jobs Act of 2017 substantially increased the standard deduction and made changes that affect itemized deductions. Continue reading

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KPI for Every Facet of Your Business

What is a KPI? How do you use KPI for every facet of your business?

KPI is an acronym for Key performance indicators. KPI is a metric or set of metrics companies use to measure performance. The use of KPI for every facet of your business is significant to upper level management decision making purposes. Continue reading

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How An Accounting Pro Can Help Your Small Business Boom

An Accounting Pro Can Make All the Difference in Your Business Success

It’s true, a professional accountant can provide powerful tax strategies with limited tax obigation, which results in saving money for your small business. One of the most positive qualities that many small business owners share is a burning desire – an insatiable willingness – to “do it all.” It’s what separates entrepreneurs from employees in the first place. An employee is more than willing to set out on the path that someone else has carved for them. An entrepreneur has a need to carve a path for themselves. Continue reading

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Checking Refunds Are Fast, Easy When Using Direct Deposit

Checking refunds are Fast and Easy. Direct Deposit is even Faster

Checking refunds are fast and easy when you use direct deposit. Did you file your 2016 federal return? Are you due a refund? You can check the status of your refund online. Continue reading

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Teacher Expenses and Your Tax Return, Teacher Expense on Taxes

Are you a teacher, principal, counselor or aide for Kindergarten through Grade 12?

Teacher expenses on taxes are eligible, so you can deduct up to $250. Please note that for 900 hours or more that an educator works during the tax year and you spend your own money on classroom supplies or professional development costs, you qualify to deduct up to $250 of those costs “above-the-line” on Schedule AContinue reading

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529 Plan: Higher Education, Learning the Hard Way

Suppose you have tried to be a good parent and saved diligently into a 529 plan so your kid could pay for college. The big day has arrived and you laughed off that tuition bill because you had plenty of 529 plan money and were able to pay it off. Two years have gone by and you can no longer remember what it was like to have a kid in the house when you get a CP 2000 notice from the IRS. Surprise, the IRS just sent you a proposed bill for $5,000 plus $1,000 penalty & interest for your 529 plan distribution. So what happened? The IRS had a surprise bill of their own. Let’s examine what just happened here. Continue reading

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Growing Pains, Growing Business in Massachusetts

Are you the owner of a growing business, chances are you have business growing pains. You know that you need to wear many hats. Imagine your business has grown to the point that you can expand your services beyond the boundaries of your home state, Massachusetts in our case. You may need to file tax returns in the states you are doing business in. Here are a few things to look out for. Continue reading

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