The presents are open, your in-laws are gone, and the tree is out at the curb. Have you forgotten anything? Yes. It’s time to focus on the fine points of end of year tax planning, such as how your existing vehicle can produce last-minute. Would you like 2023 tax deductions with one of these five strategies on both business AND personal vehicles. Is your child or spouse driving your old… Read More
Should I Invest in Art? Can I deduct it?
For anyone expecting a big return on the signed print they bought online, know that a mere one percent of all artists generates more than half of all artworks sold globally. While there is no way to ascertain the next big thing in art, and no guarantee of a positive return, many high-net-worth individuals enjoy the status and satisfaction they receive for supporting the art world. The Pros: Art investment… Read More
How to make Recreational Gambling Less of a Gamble
You’ve heard the expression “the house always wins” when it comes to gambling, and usually the IRS wins more often than it loses as well. If you’re a gambler, particularly if you’re a high roller, you need to We can help you use every deduction you’re entitled to with a free Discovery Session. Just visit New Client Application or https://calendly.com/d/46r-49m-93k/10-minute-intro-call. become a gambling bookkeeper. For non- professional gamblers, winnings are “above-the-line” taxable…. Read More
Important Tasks For Your Atlanta Business’s Year-End Payroll
The end of the year, that is. That means that for your Atlanta business’s financial reporting, this is go time. Now that we’re into December, time is short to take care of your year-end accounting. This is something we specialize in so be sure to get on our calendar to set up your EOY bookkeeping clean-up:https://calendly.com/d/46r-49m-93k/10-minute-intro-call Making time to look at your books before January 1 allows us to help… Read More
Mark Perlberg’s Believe it or Not: Strange Tax Laws
⦁ At Kansas Amusement Parks, boarding a hot air balloon that’s still attached to the ground is subject to an ironically named “amusement tax.” If the balloon is released, the ride is tax free. ⦁ New York takes a shmear out of your wallet adding an 8-cent tax for slicing, spreads or other additions, while not taxing a plain uncut bagel. Go figure! ⦁ Colorado is no place for klutzes!… Read More
The Best Strategies for Proving Business Travel Expenses
Whether you are a business owner claiming travel costs for a corporation or proprietorship, the rules governing receipts, business reasons, and canceled checks are the same. Keep your sanity intact by staying on top of things as you go along instead of leaving everything until April 14. Don’t overlook smaller travel expenses like the costs of baggage and shipping of business items needed at your travel destination; tips to waitstaff;… Read More