Ahhh… the American Dream. Home ownership is a key element in the pursuit of the American Dream. It gives us stability, a place to plant our roots and be a part of a community. It’s also an investment. Paying a mortgage builds equity; paying rent just gives you a place to live for another month. But does buying a home help with taxes? Can buying…
If you’re a small business owner, you might be wondering if there’s some way you can combine your personal life and business life to maximize your self-employed tax deductions and probably feeling like you’re missing out on some tax write-offs as well. Unfortunately, you’re right. You probably are missing out on some of those deductions because many accountants will tell you no across the board….
If done properly, yes! You can most certainly write off a car for business. If you didn’t already know this, the IRS sucks! The average small business owner can expect to pay about 19% in taxes. That’s just your business and doesn’t even include your personal income taxes. Uncle Sam is greedy and will tax everything from your groceries to your property. And while we…
So, here we are, the end of the year, and you have a few extra dollars to spend hoping to save on taxes. You’re afraid the IRS is going to take it because, well, because the IRS sucks and you have income sitting in an account. But before you go buy a boat and write it off as a “business expense” to save on taxes,…
Why would you want to think about tax strategies when the years almost over? Year end planning is too often a missed opportunity to further improve your current tax situation and plan for maximized tax savings next year. That’s a lot of value for just one meeting with your accountant. Most of our clients think tax strategy boils down to deductions. That makes…
Can you write off your vehicle? The answer is yes… but there are some things you should know before learning how to deduct your vehicle. As a business owner it’s exciting to think about deducting all these expenses. However, the IRS is very good at making things complicated. It can be hard to know what specific expense can be deducted and what they…
Incite Tax & Accounting is a Certified Public Accountant (CPA) firm with offices in Draper, Utah. With over 10 years of experience handling business taxes for large and small Utah companies, Incite Tax is one of the most qualified business CPA firms in all of Utah. No matter your tax needs, Incite Tax is the firm for the job.
Incite Tax believes in sticking it to the IRS. If you’re looking to better your financial situation contact us!
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