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taxes

Tis the Season to Be Giving!

November is when we all start thinking about charitable giving, especially if we haven’t done a lot of giving throughout the year. It’s the time of year when we all think about how to give back – how to help others in our community, our state, our world.  At this time of year, we usually […]

Education Tax Credits – What You Need to Know

What You Should Know about Changes in Education Provisions in the Tax Law The IRS has several provisions for helping families offset the cost of education through education tax credits. Are you making the most of tax benefits designed to offset some of the high costs of education?  The American Opportunity Tax Credit, extended through […]

Social Security: Your Divorce’s Upside?

Divorce is messy. Divorce and money is messier. There is one financial benefit you may qualify for, though, that won’t send your ex-spouse into a rage – social security (SS). Here are the basics: You are eligible to receive social security benefits based on your ex-spouse’s work record if you were married for 10 or more […]

How to Get Your Taxes Done ASAP in 2017

You sent your tax paperwork to your accountant weeks ago. The tax filing deadline is almost here. You contact your accountant to find out if your taxes are done yet. They tell you they are planning to file an extension because they can’t get your return done on time. Arrrgh! You go ballistic! That happened […]

5 Tips to Get You Ready for Tax Season

The holidays are upon us and that means it’s time to get your end-of-year ducks in a row for some smooth sailing through the upcoming tax season. Here are five tips to help you get organized so that your 2016 tax filing is as easy as floating down the lazy river: Small biz owners: Gather […]

6 Cool Ways to Participate in #GivingTuesday

Last year we told you all about #GivingTuesday and why we think it is a great day to give to charity. But did you know that giving to charity on #GivingTuesday doesn’t have to be all about money? Sure, cash is a sure-fire way to help a nonprofit, but you can also give your time, […]

Debunking Myths About Financial Gifts

Financial gifts are gifts of money to family, friends, or charity. With the giving season approaching, let’s debunk a few common myths about gifting money. Most taxpayers don’t ever need to worry about gift taxes because most financial gifts (including money) are not subject to a gift tax. However, sometimes questions do pop up about […]

4 Great Reasons to Take Payroll as an S-Corp Owner

As you probably know, October is tax planning month for us at Team Holly. We’ve already posted some blogs about what kinds of financial decisions might warrant a call to your CPA (so you can assess the tax impacts of your choices), and some investment tax planning strategies. So what do S-Corp payroll and tax […]