Choosing whether to lease or buy equipment depends on your situation. From how often you need to update equipment to your amount of capital, this decision certainly is on a case by case basis. In addition to your business situation, recent changes to federal tax law and business accounting guidelines could affect whether you decide […]
Not all tax credits are created equal. Some can give you a greater refund and some decrease what you owe to on your tax bill. Getting a better understanding of both types of credit, refundable and nonrefundable, can help you get a better grasp at what you may be receiving back in a tax refund.
Pros & Cons
If you’re a little late to the game this tax season, you may be considering a tax extension. Whether you are waiting for important tax documents to arrive in the mail or simply need more time to evaluate your deductions, extra time to file may help you. While obtaining an extension is relatively […]
Understanding This Year’s Missouri Tax Return Troubles
This tax season has gotten off to a rough start in the state of Missouri. Due to the error in Missouri’s Department of Revenue, taxpayers who normally expect to receive a refund may not receive one and those who normally do not expect a tax bill may end up […]
Qualified Opportunity Zones – Tax Preparer Springfield MO
A provision within the Tax Cuts and Jobs Act created “Qualified Opportunity Zones” (QOZ) in certain designated low-income communities. To spur investment and job creation, private investors in Qualified Opportunity Funds (QOFs) are allowed certain tax advantages for investing in these communities.
A QOF is, […]
Misunderstanding the complex regulations and guidelines set forth by tax codes for small businesses lead to costly mishaps. With constant change set forth by federal, state, and local agencies as well as widespread misinformation, it is completely understandable that problems arise. This can lead to your small business overpaying in taxes or even incurring tax penalties. Here are a […]
Seniors who enjoy not having to go to work every day might not enjoy the fixed income that comes with retirement. The IRS is sympathetic and allows tax breaks and special tax credits for seniors. Our CPA Firm in Missouri has a few suggestions for ways you can be saving money on your taxes as […]
With each new year comes new changes in the tax world. Your CPAs in Springfield Missouri know you can always expect changes to be made in both personal and business tax law, especially with the Tax Cuts and Jobs Act of 2017 (TCJA) provisions now coming into full effect in the year of 2019.
Standard Mileage […]
Is your 2019 new year’s resolution saving money? If so, the IRS just made it easy to save even more in your retirement account. After many years without adjustments, the Treasury Department has announced inflation-adjusted figures for retirement account savings for 2019.
The new contribution limits for those using pretax funds participating in 401(k) plans will be […]
Being a parent is an expensive business. Parents will spend an average of $233,610 to raise a child born in the year 2015, according to a 2017 report.
The U.S. tax code helps relieve parents’ financial burdens by offering several tax breaks. If you are a parent, you can potentially save on taxes by utilizing these tax […]