How Can Business Owners Lower Last Year’s Tax Bill?

How Can Business Owners Lower Last Year’s Tax Bill?

Feb 18, 2021 | Blog, Tax

Good news! Business taxpayers may still be able to take actions to lower their federal income tax liabilities for 2020, as well as for future years. Consider these ideas before you file last year’s return. Claim 100% First-Year Bonus Depreciation — Or Maybe Not For...
The Six Most Overlooked Tax Deductions

The Six Most Overlooked Tax Deductions

Feb 17, 2021 | Blog, Tax

Who among us wants to pay the IRS more taxes than we have to? While few may raise their hands, Americans regularly overpay because they fail to take all eligible tax deductions. The following provides a quick look at the six most overlooked opportunities to manage...
5 Valuable Tax Credits for 2020 Individual Returns

5 Valuable Tax Credits for 2020 Individual Returns

Feb 15, 2021 | Blog, Tax

Individuals eligible for federal income tax credits can significantly lower their tax obligations. Tax credits usually provide greater tax savings than deductions, because credits reduce your tax bill dollar for dollar. A deduction reduces only the amount of income...