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Ringing Out 2016 in QuickBooks

By Joaquin On November 26, 2016 · Add Comment
Ringing Out 2016 in QuickBooks 2017 is just around the corner. Now’s the time to do your end-of-year QuickBooks tasks. Since early January of this year, you’ve been faithfully creating new records, entering transactions, and recording payments. You’ve run basic reports. You’ve done your collection duties. You may have paid employees and submitted payroll taxes. [...]
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Time to Start Thinking About Year-End Tax Moves

By Joaquin On November 26, 2016 · Add Comment
Time to Start Thinking About Year-End Tax Moves Article Highlights: Maximize Education Tax Credits Roth IRA Conversions Minimum Required Distribution Advance Charitable Deductions Maximize Health Savings Account Contributions Prepay Taxes Pay Tax-deductible Medical Expenses Take Advantage of the Annual Gift Tax Exemption Avoid Underpayment Penalties With year-end just around the corner, it is time to [...]
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De Minimis Expense Election Required Before Year End

By Joaquin On November 26, 2016 · Add Comment
De Minimis Expense Election Required Before Year End Article Highlights: Accounting Procedure $2,500 De Minimis Expensing Annual Election Small businesses can adopt an accounting procedure that allows them to expense, rather than to capitalize, the purchase (cost) of tangible business property. Generally, the maximum that can be expensed under this provision is whatever amount the [...]
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Year-End Investment Moves

By Joaquin On November 26, 2016 · Add Comment
Year-End Investment Moves Article Highlights: Zero Capital Gains Rate Offset Gains With Losses Wash Sales If you invest in publicly traded securities, here are a couple of tax-saving possibilities you shouldn’t forget to consider before year-end. Zero Capital Gains Rate – If you are having a low-income year, there may be a way for you [...]
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Liberal Expensing Limits Can Create Major Year-End Tax Savings

By Joaquin On November 26, 2016 · Add Comment
Liberal Expensing Limits Can Create Major Year-End Tax Savings Businesses seeking to increase deductions by acquiring machinery and equipment before year-end have an impressive array of tools to work with: Generous, up to $500,000, expensing under IRC Sec. 179, A liberal, up to $2,500, expensing safe harbor for small businesses, and First year 50% bonus [...]
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2016 TAX DEDUCTION FINDER & PROBLEM SOLVER

By Joaquin On November 26, 2016 · Add Comment
2016 TAX DEDUCTION FINDER & PROBLEM SOLVER Our 2016 Tax Organizer is designed to help you identify missing tax deductions and get more organized before your appointment. We update the tax organizer annually to make sure you are in compliance with the latest tax law changes. The tax organizer currently posted below is primarily for [...]
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Having a Low Taxable Income Year? Ways to Take Advantage of It

By Joaquin On November 26, 2016 · Add Comment
Having a Low Taxable Income Year? Ways to Take Advantage of It Article Highlights: Taxable Income Graduated Individual Tax Rates Take IRA Distributions Defer Deductions Convert Traditional IRA Funds into a Roth IRA Zero Capital Gains Rate Business Expenses Being unemployed, having had an accident that’s kept you from earning income, incurring a net operating [...]
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Habits That Threaten Your Identity and Pocketbook

By Joaquin On November 2, 2016 · Add Comment
Habits That Threaten Your Identity and Pocketbook Article Highlights What’s in Your Wallet or Purse Your Fear of the IRS Using Public Internet Connections Not Screening Your E-Mails E-Mailing and Texting Sensitive Information Being Free and Easy with Passwords Using Identical Passwords They’re just old habits. You likely to do them without even thinking. But [...]
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Accounting 101: How to Read an Income Statement

By Joaquin On October 28, 2016 · Add Comment
Accounting 101: How to Read an Income Statement Your income statement is one of the most important documents your company produces. However, if you are the owner of a new business, or if you aren’t familiar with this type of statement, preparing and interpreting it can be challenging. To read your income statement accurately, consult [...]
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Tips for Holiday Charity Giving

By Joaquin On October 28, 2016 · Add Comment
Tips for Holiday Charity Giving Article Highlights: Holiday Season Charity Gifts Long-form Itemization Required Documentation for Taxes Monetary Donations Property Donations Charity Scams Qualified Charities Only Disaster Scams ID Thieves The holiday season is the favorite time of the year for charities to solicit donations. It is also the time of year when scammers show [...]
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  • D&J Accounting & Tax Services, Ltd. • 4950 N. Harlem Avenue • Harwood Heights, IL 60706 • T 773-237-7400 F 773-237-2822 mówimy po polsku
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