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How the Government Shut Down Affects Tax Season For You

Jan 9, 2019 10:28:32 AM / by Lee Goudzwaard-Vaught posted in taxes, small business, accounting, small business advice, small business resources

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The current government shutdown is affecting all kinds of nationally funded programs, but nowhere is it more evident than how it has shaped tax season this year. Already different because of the passage of the Tax Cut and Jobs Act, the real monkey wrench comes from the fact that 800,000 federal workers in nine different departments aren’t able to work. These departments include Agriculture, Commerce, Justice, Homeland Security, Housing and Urban Development, Interior, State, Transportation, and Treasury .

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‘Tis the Season: How the Tax Cuts and Jobs Act Changes the Deductions for Charitable Giving

Dec 26, 2018 12:23:00 PM / by Lee Goudzwaard-Vaught posted in taxes, resources, quick tip

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It’s the most wonderful time of the year, right? Sure, sort of. At the end of the year, charitable donations soar, as individuals scramble to get them in before the end of the tax season. Sure, it feels good to give (really, you should do this. Giving is its own reward.) it doesn’t hurt that in year’s past you’d also get a big fat deduction for doing the right thing.

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Tax Planning Vs Tax Reacting: How to Save Money by Taking Action Now

Dec 20, 2018 2:12:00 PM / by Lee Goudzwaard-Vaught posted in monthly accounting, taxes, accounting, accounting methods

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We know nobody really likes tax season. Here’s the thing, the work you do now could be the difference between saving money or spending money in March and April. We’re willing to bet that you don’t want to pay more in taxes, so why are you acting this way? Yes, it helps to have a good accountant, but if you wait until the last minute a tax accountant can only fill out your tax filings according to what’s already happened.

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The Three Biggest Changes to Tax Law in 2018 That Affect You Today

Nov 16, 2018 11:04:00 AM / by Lee Goudzwaard-Vaught posted in monthly accounting, taxes, small business advice, small business accounting

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Tax law isn’t static, it’s constantly changing. Deductions that were available last year aren’t available this year, the amount you can deduct changes, even changes in how dependents work for deductions. We’re asked all the time about this, so here’s what you need to know about the three biggest changes to tax deductions in 2018.

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How Too Much Profitability Can Hurt Your Business

Oct 30, 2018 11:12:00 AM / by Lee Goudzwaard-Vaught posted in monthly accounting, taxes, small business, bookkeeping, accounting, small business advice, small business accounting

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You’ve grown your business, take pride in a satisfied customer base, and have increased profitability year after year -- what’s the problem with that? As the poet Biggie Smalls once so eloquently rapped, “Mo money, mo problems.” While it’s obviously the goal to succeed as a business - and profitability is part of that equation - here’s how too much profitability can hurt your business -- and where you can get the help you need.

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