The IRS is being awesome today! YAY!!!! For small businesses (assets less than $10mil or av gross revenues less than $10mil) we will not HAVE to file the form 3115! You will have the choice to file this form if…
Did you know! The IRS has implemented a change that will apply to ALL business owners or any other individuals that have property or equipment that has depreciation on it! Did you know that this change will take your CPA…
Do you want to get an accurate record of your mileage so that you can confidently claim the deduction and put money back in your pocket? If the answer is yes, I highly recommend the MileIQ Mobile App. It’s an…
Why and when should I think about taxes? There are 3 main areas you should be considering during the year that have tax/security impacts on you and most likely the largest expense you have each year (your tax bill!). 1) Take…
Shauna Wekherlien, our owner, founder, and head Tax Goddess was given the honor of presenting to a room full of CPAs at this years' Arizona Society of CPAs annual meeting. This was the first event of it's kind across the…
Shauna, our Tax Goddess, was invited by WeGrowOurs.com to chat on their amazing podcast (which you can find here). If you've never checked into their site, WeGrowOurs.com are a great resource for being self-sufficient and saving the planet one garden…
Hi Everyone, Can you believe that almost half of the year has almost gone by? Summer is here and a lot you may already be planning your vacation. For all of us at Tax Loopholes, we want to make sure…
Don't worry! The IRS won't be knocking at your door. Hopefully you filed an extension (federal form 4868) but, if you didn't, don't fret! Here are the steps to take if you didn't file your extension by 4/15/14 @12 midnight:…
So, you and your spouse combined make over $250,000. Did you get a surprise when you went to file your taxes this year? Did all of a sudden you now owe a TON of extra $? You got hit by…
Refunds totaling almost $760 million may be waiting for an estimated 918,600 taxpayers who did not file a federal income tax return for 2010, the Internal Revenue Service announced today. However, to collect the money, a return for 2010 must…
Did you know that one of the most important features of QB 2012 or higher is that you can "data trim" your information? This is especially important if you ever find yourself in an audit situation. This way, using data…
Today we hosted an amazing webinar with Chris Brown and Mark Hunter from www.easyaca.com . They gave us some interesting news that even I didn't know! Did you know that it may be better to REMOVE your company health plan if…
As you scramble to prepare for next years taxes coming (un hungh, sure, yeah right Tax Goddess!!!), take a moment to reflect on how once upon a time taxes were way crazier. Here's a short list of five taxes that…
Financial life isn't great for many right now, and tax deadlines are rapidly approaching. If you find that you can't pay your taxes on time, the Federal Trade Commission can help. Here's what they suggest: Read your notices from the…
If you owe back taxes, you may be tempted to turn to companies that claim they can reduce or eliminate your tax debts and stop back-tax collection by applying for IRS hardship programs. The truth is that most people don’t…